Australian Oil Co Restores Emu Apple-1 Production and Advances Gas Field Restart
Australian Oil Company Limited has successfully reactivated its Emu Apple-1 well, restoring production to pre-intervention levels, while advancing preparations to restart gas production at Major-4 in the Surat Basin.
- Emu Apple-1 well acidized and production restored
- Riverslea-3 oil samples collected for sales agreement
- Evaporation pond remediation scheduled at Riverslea Oil Field
- Metering equipment installation underway at Major Gas Field
- Strategic focus on Surat Basin asset reactivation and exploration
Emu Apple-1 Well Back to Full Production
Australian Oil Company Limited (ASX:AOK) has marked a key operational milestone with the successful acidization and reactivation of its Emu Apple-1 well in the Surat Basin’s PL 264 licence. Production rates have returned to pre-intervention levels following careful management of pump strokes, signaling a robust recovery of this critical oil asset. The company plans to monitor fluid levels closely this week to assess reservoir communication, with early indications suggesting improved connectivity compared to pre-treatment.
Riverslea Field Progress Supports Restart Plans
In parallel, Australian Oil has collected additional oil samples from the Riverslea-3 well to support crude sales agreements necessary for the field’s restart. Field visits scheduled this week will focus on remediating evaporation ponds at the Riverslea Oil Field, a vital environmental and operational step before resuming production. The company’s ongoing mapping of prospects within PL 30 aims to identify new exploration targets, including previously untapped basal granite wash formations.
Major Gas Field Prepares for Production Restart
Preparations are advancing at the Major Gas Field (PL 512), where Australian Oil is coordinating with adjacent operators to install metering skids and ancillary equipment at the connection point to the Boxley pipeline. This infrastructure is essential for finalising a gas sales agreement and targeting production restart at the Major-4 well within the year. Once operational, this will diversify the company’s revenue streams and expand its Surat Basin production portfolio.
Strategic Outlook Focused on Growth and Operational Excellence
Managing Director Kane Marshall highlighted the acceleration of the Surat Basin reactivation campaign, noting the company’s commitment to operational integrity and delivering long-term shareholder value. The successful interventions and planned field activities underscore Australian Oil’s strategy to capitalise on favourable oil prices and exploration opportunities in the basin. Beyond Surat, the company remains alert to larger, higher-risk gas exploration ventures internationally, aiming to complement its core Australian assets.
Bottom Line?
Australian Oil’s recent operational wins in the Surat Basin set a foundation for increased production and revenue diversification, but assay results and gas sales finalisation remain critical upcoming milestones.
Questions in the middle?
- How will assay results from Riverslea-3 influence crude sales agreements and production timelines?
- What is the expected timeline for gas production to resume at Major-4 following metering installations?
- Could new exploration targets in the basal granite wash materially alter Australian Oil’s reserve base?
