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How Australian Oil Co. Is Revitalizing Gas Production and Forgiving $1M Debt
4:02pm on Thursday 31st of July, 2025 AEST
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Energy
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How Australian Oil Co. Is Revitalizing Gas Production and Forgiving $1M Debt
4:02pm on Thursday 31st of July, 2025 AEST
Key Points
Rec Board-7 and Rec Board-8 wells achieve sustained gas flows of ~200 mscf/d
Borba and Dempsey leases deemed commercially immaterial after technical review
Settlement agreement forgives $1 million loan with former director, issuing 36 million shares
Plans underway to reconnect VBC wells and restart production at Stoney Creek and Dempsey
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