Australian Oil Advances Surat Basin Phase 1 Development with Emu Apple-1 Intervention
Australian Oil Company (ASX:AOK) has kicked off Phase 1 development in Queensland's Surat Oil Basin, completing well interventions at Emu Apple-1 and revising plans for Riverslea-3 to boost production and exploration.
- Emu Apple-1 well intervention completed and shut in for optimisation
- Riverslea Field Later Development Plan revision underway for Riverslea-3 reinstatement
- Pumpjack infrastructure acquisition progressing for Phase 2 deployment
- Major Gas Field geological mapping and resource assessment near completion
- Exploration opportunities identified beyond Surat Basin with due diligence completed
Emu Apple-1 Intervention Marks Technical Milestone
Australian Oil Company Limited (ASX:AOK) has commenced key Phase 1 development initiatives in the Surat Oil Basin, Queensland, with a significant focus on its Emu Apple Oil Field. The company recently completed intervention operations on the Emu Apple-1 well, including back wash with condensate and additional treatments aimed at enhancing well productivity. The well is currently shut in to optimise these treatments before production resumes in the coming days. This marks a crucial technical step in the company’s strategy to increase recovery and production across the basin.
Riverslea Field Development Plan Under Revision
Alongside Emu Apple, Australian Oil is revising the Riverslea Field Later Development Plan, prioritising the reinstatement of the Riverslea-3 well. The company is taking further crude oil samples from Riverslea-3 for assay to support an offtake agreement. The revised plan focuses on bringing Riverslea-3 back into production via free flow initially, with artificial lift and additional well interventions to follow to maximise flow rates. This phased approach reflects a value-driven redevelopment strategy, with updated documentation being prepared for submission to Queensland’s regulatory authorities.
Pumpjack Infrastructure Acquisition and Deployment
To accelerate future development phases, Australian Oil is negotiating to acquire pumpjack infrastructure, commonly known as nodding donkeys, located within the basin. These assets are intended for deployment at the Emu Apple Oil Field as part of Phase 2 initiatives. This move aims to enhance operational efficiency and production capacity as the company advances its Surat development roadmap.
Major Gas Field Nears Geological and Commercial Milestones
The Major Gas Field, another key asset within the Surat portfolio, is approaching completion of geological mapping and resource assessment. These technical studies are feeding into ongoing commercial discussions regarding gas offtake through the Silver Springs Gas Plant. The field is earmarked for reinstatement as the next step in the company’s phased development sequencing, underpinning its broader Surat strategy.
Exploration Expansion and New Ventures
Beyond the Surat Basin, Australian Oil has completed due diligence on several high-impact domestic exploration opportunities. The company is exploring commercial avenues for farm-in or acquisition opportunities, consistent with its philosophy of securing new acreage on favourable terms. Meanwhile, geological mapping continues across the Greater Riverslea region to identify and de-risk drillable prospects, supporting future growth and aligning with the company’s longer-term objectives.
Bottom Line?
Australian Oil’s phased approach to Surat Basin development, combining technical interventions, infrastructure acquisition, and exploration maturation, sets a foundation for incremental production growth through 2026.
Questions in the middle?
- How soon will Emu Apple-1 return to sustained production following optimisation?
- What impact will pumpjack deployment have on production rates and operational costs?
- Will new exploration ventures outside Surat Basin translate into material resource additions?
