AOC - Australian Oil Company

[moneymajix]

Up over 50% yesterday.

NOW up 28.571% today to 18c.

Hit 20c at one stage.


No announcements.

No speeding ticket.

?

[moneymajix]

Quarterly

http://www.aspectfinancial.com.au/do...A==&popup=true

[moneymajix]

14.5c, up 16%


AGM Presentation, 29 November

http://www.asx.com.au/asxpdf/2007112...zgy7dmylnh.pdf

[moneymajix]

Not sure what is going on but this is up 27% today. Moved up a bit over the last couple of days.
Tightly held stock.

Some good news would be nice!

19c.

Not much for sale.

[springhill]

AOC still running as an oil spec, not alot of cash left at the end of March ($515k) but they seem to run the company on the smell of an oily rag. 69m shares were on issue. JV's may be their modus operandi.
They then ran a small share placement.
Share Placement
The Company has placed 5,168,666 ordinary fully paid shares with Sophisticated Investors at 5 cents per share to raise $258,433. Funds raised will be used for general working capital.

​San Juaquin and Los Alamos information is current. The rest was taken from March quarterly, but no mention of progress in any other ASX announcements since then.

PROJECTS

SAN JUAQUIN BASIN - NEW VENTURE OIL PLAYS CALIFORNIA
 AOC, through its wholly owned subsidiary Sacgasco LLC, has executed a farm-in agreement to earn 32.81% working interest in 422 acres in the Coalinga area of the San Joaquin basin of California.
 NNG-Coalinga 1-24 exploration well will commence in early July and targets in excess of 20 mmbbls recoverable Prospective Resource.
Operations Update
http://www.asx.com.au/asxpdf/2012071...ld1qp5cfgx.pdf
SCU #1-24 Exploration Well
San Joaquin Basin, California
Australian Oil Company Limited (AOC) wishes to advise that its drilling contractor Paul Graham Drilling has had a slight delay completing operations for its current client and expects to mobilise Rig 5 to the SCU #1-24 well site early next week.



LOS ALAMOS OIL PROJECT CALIFORNIA
Los Alamos Oil LLC (LOA), a wholly owned subsidiary of AOC, has entered into a farmin agreement for approximately 3100 leased acres located in Los Alamos, Santa Barbara County, California. The terms of the farmin provide for LOA to pay 75% of the cost of a completed commercial well to earn a 75% interest in the total leased area which interest reduces after repayment of LOA's cost of drilling and completing the well to a 56.25% working interest. Excluded from the agreement are certain shallow existing producing wells on the leased acreage. Thereafter LOA will pay its working interest share of all ongoing costs.
The proposed well will be drilled to approximately 12000 feet positioned updip from an existing well drilled in 1986 by Sun Oil which encountered extensive oil shows and a thin oil column in the primary objective being the Monterey shale target. The Monterey Shale is the main producing oil reservoir in California.
LOA has an option to farmin into an additional adjacent leased area comprising approximately 1800 acres on similar terms.
Ongoing discussions with potential joint venture parties to provide partial funding for this well.
Well Planning and rig contract negotiations ongoing.

MANKINS RANCH OIL PROJECT CALIFORNIA
The final Environmental Impact Report released by the County of San Luis Obispo was voted against by
the Planning Commission.
An appeal against this ruling was lodged and will now be decided by the Board of Supervisors in mid
May 2012.

Nothing further has been mentioned of this.

PORTER RANCH OIL PROJECT CALIFORNIA
The Porter Ranch leases, comprising approximately 9000 acres, are held by Alamo Creek Oil LLC (Alamo) a Californian incorporated company, 45% owned and jointly operated by AOC and 45% by United Hunter Oil Gas Corp (UHO) and 10% owned by CALOG LLC.
Geological and Geophysical review nearing completion.

HOOD - FRANKLIN GAS PROJECT SACRAMENTO CALIFORNIA
Ongoing review of the economics of drilling an additional well.

PEL 182
COOPER BASIN SOUTH AUSTRALIA
AOC’s 7.5% interest is subject to a farmout and assignment to Dome Petroleum however there are unresolved issues with Dome which is preventing the completion of this transaction which when finalized will result in AOC having no ongoing interest in this permit.

EP 435
EXMOUTH SUB BASIN WESTERN AUSTRALIA
No activity during the quarter.

ONSHORE EAST TIMOR
At this time there is no legislation in place in East Timor regarding onshore oil exploration and it is not possible to predict when any application for licenses may take place.

[Anmar]

AOC has announced that the well being drilled in California, San Joaquin, has entered an oil bearing structure.
The share price jumped from $0.005 to $0.135 at which point the company entered a Trading Halt until Friday 10th
August

[springhill]

Nice pick up Anmar!

Not a leak beforehand either!

[Anmar]

AOC Announcement:
Australian Oil Company (ASX:AOC) is pleased to report encouraging results from wireline log analysis of the oil shows encountered in exploration well SCU #1-24 in the San Joaquin Basin, California.
The well has been drilled to total depth and the Joint Venture has decided to commence the running of production casing with a view to undertake a production test in order to determine whether oil can be produced from the well and if so, to gain information about reservoir performance.
It is planned to run the production casing over the next 24 hours then release the current drilling rig and re-enter the well with a smaller workover rig to conduct a flow testing programme. It is anticipated that this flow testing will commence in the next 2-3 weeks.
Graham Drilling

[Chasero]

AOC Announcement:
Australian Oil Company (ASX:AOC) is pleased to report encouraging results from wireline log analysis of the oil shows encountered in exploration well SCU #1-24 in the San Joaquin Basin, California.
The well has been drilled to total depth and the Joint Venture has decided to commence the running of production casing with a view to undertake a production test in order to determine whether oil can be produced from the well and if so, to gain information about reservoir performance.
It is planned to run the production casing over the next 24 hours then release the current drilling rig and re-enter the well with a smaller workover rig to conduct a flow testing programme. It is anticipated that this flow testing will commence in the next 2-3 weeks.
Graham Drilling

anyone can post the VWAP for today? How do you check?

[skc]

anyone can post the VWAP for today? How do you check?

VWAP 20.09.

You can check by doing the sums yourself. I see it on Iress.

[Anmar]

PM 9th Aug - AOC closed at $0.180 with no obvious news on an oil find, a 291% increase in a couple of days.

Why does an Australian Oil Company get such a terrific increase in value without a definite result when two Australian companies with definite oil finds in Australia cannot get their share value above $0.20. I am refering to CTP and EGO.

Anmar

[skc]

PM 9th Aug - AOC closed at $0.180 with no obvious news on an oil find, a 291% increase in a couple of days.

Why does an Australian Oil Company get such a terrific increase in value without a definite result when two Australian companies with definite oil finds in Australia cannot get their share value above $0.20. I am refering to CTP and EGO.

Anmar

CTP and EGO are valued way above AOC...

CTP, 1.38B shares on issue, market cap $145m.
EGO, 4.75B shares on issue, market cap $76m.
AOC, 74m shares on issue, market cap $13.4m.

[Anmar]

I would have expected that CTP and EGO shares would be in the low $0.20's considering both have sales agreements in place for oil and condensate, and EGO has a gas sales agreement for providing gas to Alcoa Alumina
from Q3 when connected to the main gas pipeline. The share price for both has hardly moved upwards in the past six months.

[Clansman]

Both companies you mention, and particularly in the case of EGO have far too many shares on issue?
AOC has a tiny registry, hence the rapid value adding.

[kingink]

Ouch! 50% or so downslide today?

The well they were hoping to get oil out of didnt turn out any good

I've been watching this stock for the last few weeks, waiting to see what happened with it.

I'm a novice investor, do you think now would be a nice time to jump in?

TBH I haven't even looked at their money info hahaha.

Such a big hit taken just from 1 bad well? Is this like 1 of 2 wells or something haha?