Sacgasco Limited ( (AU:AOK) ) just unveiled an update.
Sacgasco Limited has successfully completed a pipeline acquisition agreement with Pacific Gas and Electric, enabling the resumption of gas production in the Rio Vista Field area. This strategic move, coupled with a gas sales agreement with California Resources Corporation, positions the company to significantly increase gas flow rates and achieve cash flow positivity, allowing for further exploration investments. The company aims to capitalize on rising gas prices in California and is exploring additional opportunities to expand its portfolio.
More about Sacgasco Limited
Australian Oil Company Limited, trading as Sacgasco Limited, operates in the oil and gas industry. The company focuses on exploration and production activities, primarily in the Sacramento Basin in California, through its wholly owned subsidiary, PEOCO LLC.
Technical Sentiment Signal: Sell
Current Market Cap: $1.28M
For detailed information about AOK stock, go to TipRanks’ Stock Analysis page.