Australian Oil Company Limited (ASX:AOC) is a Perth-based energy company focused on conventional oil and gas exploration and development across its onshore assets in California.
AOC is targeting substantial gas production to supply the significant demand of the local Californian gas market and burgeoning LNG export market on the west coast of North America. The Company has an extensive portfolio of appraisal and exploration stage gas prospects, including a number of multi-Tcf opportunities in the proven Sacramento Basin.
The Sacramento Basin has significant development upside, with the underlying gas potential largely overlooked by local operating companies who are focused mainly on existing shallow producing petroleum systems.
Sacramento Basin - Massive underlying gas potential
Extensive pipeline infrastructure connected to the US interstate pipeline system
Produced over 9Tcf gas
The 3.5 Tcf Rio Vista field is the region's largest gas field
Has two on-structure wells with extensive gas shows in conventional reservoirs that demonstrate the existence of an additional working petroleum system
Has potential to host structures that could contain a number of Rio Vista sized (multi-Tcf) gas fields