SACGASCO LIMITED(SGC)

name changed to Australian Oil Company Limited

The suspension of trading in the securities of Sacgasco Limited will be lifted immediately, following the release by SGC of an announcement regarding a resource report on the Borba 1-7 well.

Borba 1"7 well to spud this week. Maiden Independent Prospective Resource Assessment completed. Multiple stacked conventional sandstone objectives able to be tested with a single well with a Geological Chance of Success of 70%. Mean unrisked recoverable gas Prospective Resource for Borba of 141 BCF (100%). Low risk play"opening well to explore "Tcf"potential" geological trend. Sustained A$5/Mcf gas pricing on the US West Coast enhancing value.

The securities of Sacgasco Limited will be suspended from quotation immediately under Listing Rule 17.2, at the request of SGC, pending the release of an announcement regarding a resource report on the Borba 1-7 well.

The suspension of trading in the securities of Sacgasco Limited will be lifted from the commencement of trading on Friday, 29 January 2021, following the release by SGC of an announcement regarding an acquisition.

The company releases a notice of Proposed issue of Securities - SGC.

Acquiring a 20% working interest in 500 BOEPD (100%) from Reactivated Oil Fields in Alberta, Canada: Sweet Oil (86%) and Natural Gas (14%). Sweet Oil (86%) and Natural Gas (14%). Purchase Price: CAD 500,000 cash (~A$510,000) and 1.92 million SGC shares at an issue price of 7.3 cents each (A$140,000). Remaining Proved Reserves of 3.7 million BOE (100%) estimated by Independent Evaluator at 31 December 2019. To be Operated by efficient, low cost private Operator which provides local synergies. Acquisition funded from existing cash, with Effective date of 18 January 2021 with Closing Date prior to 10 March 2021. Drilling of Borba natural gas prospect is Sacgasco's key priority with preparations being finalized.

The securities of the company will be suspended from quotation immediately under Listing Rule 17.2, at the request of SGC, pending the release of an announceent regarding a material acquisition.

The suspension of trading in the securities of Sacgasco Limited will be lifted immediately, following the release by SGC of an announcement regarding an acquisition and a capital raising.

The company releases a notice of Proposed issue of Securities - SGC.

Acquiring 30% working interest in 1,000 BOPD from Producing Oil Fields in Alberta, Canada: Sweet light oil with an average oil quality of 39o API from Keg River Formation; Purchase Price: CAD 600,000 cash (~A$640,000) and 8.85 million SGC shares at an issue price of 4.0 cents each (~A$350,000): Purchase price metric: ~US$2,400 per flowing BOPD. Remaining proved reserves of 4.4 million BO (100%) estimated by Independent Auditor at 31 December 2019: Purchase price metric: ~US$0.55 per BO of Proved Reserves. Extensive Owned infrastructure. To be Operated by efficient, low cost private Operator which provides local synergies: Production is Cash Flow positive at current oil price; Potential to Grow Production and reduce OPEX through early operational activity; Exploration and Development Locations provide large upside. Acquisition fully funded through placement of $2,300,000 of SGC shares at 3.5c per share. Expected close by 31 January 2021, subject to Alberta Energy Regulator (AER) approval. Drilling of Borba Prospect remains the key priority for Sacgasco with preparations ongoing.

The securities of Sacgasco Limited will be suspended from quotation immediately under Listing Rule 17.2, at the request of SGC, pending the release of an announcement regarding an acquisition and a capital raising.

name changed from Australian Oil Company Limited