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How Australian Oil Seized Full Control of Key California Assets Without Spending Cash
8:41am on Monday 8th of December, 2025 AEDT
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Energy
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How Australian Oil Seized Full Control of Key California Assets Without Spending Cash
8:41am on Monday 8th of December, 2025 AEDT
Key Points
Acquisition of Xstate USA Corporation increases Australian Oil's working interests in Sacramento Basin
Deal completed with no additional cash outlay, offsetting purchase price against unpaid cash calls
Enhanced operational control expected to streamline exploration strategy
Regulatory changes in California now facilitate drilling permits in Kern County
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Australian Oil Company (ASX:AOK)
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