EXHIBIT 99.1
PRESS RELEASE
Agreement to Acquire Petroleum Exploration Permits in the Xxxxxxxxx Basin
Region, Offshore Northern Territory, Australia
Australian Oil & Gas Corporation (BB Code: AOGC) through its wholly owned
subsidiary Gascorp,Inc, has agreed to acquire all of the outstanding shares of
Nations Natural Gas Pty Ltd (Nations), a company incorporated in Australia.
Nations holds a 30% interest in the National Gas Consortium, which is the holder
of four permits (NT/P62, NT/P63, NT/P64 and NT/P65). The permits are located in
the eastern Timor Sea region of the Xxxxxxxxx Basin, offshore Northern
Territory.
The Xxxxxxxxx Gulf is a major emerging oil and gas province, with a developing
emphasis in gas processing for the export market. Discoveries made over the past
few years will lead to the area providing substantial gas production and
revenue, through value added gas projects covering a wide spectrum of gas to
liquids processes and technologies.
About AOGC
Australian Oil & Gas Corporation is a Delaware incorporated company seeking high
impact oil and gas exploration opportunities in the offshore waters within the
jurisdiction of Australia. The company's US office is located at 0000 Xxxxx
Xxxxxxx Xxx, Xxxxxxxx, Xxxxxxx, with the administrative operations based in
Australia, at Level 00, 000 Xxxxxxx Xxxxxx, Xxxxxxxxx, Xxxxxxxx.
Further information please contact:
Xxxx Xxxxxx
Australian Oil & Gas Corporation
(x00 0) 0000-0000
