Thanks for that Omega Man, certainly puts it into perspective...

Thanks for that Omega Man, certainly puts it into perspective now.

After re-reading page 2 of the CA I'm inclined to say this agreement presents multiple opportunities for AOC in a de-risked part of California

So in summary AOC are accessing oil from the Gatchell Sandstone in this new acreage as defined in the agreement as follows:

"rights to production from the Gatchell Sandstone outside of the Chevron owned and operated East Coalinga Extension Oil Field" .........that i estimate appx 700+ acres, refer to overlay-map in the CA. Key word being outside and we know this is an oil producing reservoir.

"rights to production from shallower sands over the entire 1433 acres",

"plus rights for production from zones deeper than the Gatchell over the entire 1433 acre block."

So this subsequent agreement offers the company the ability to in effect target 1 already known oil reservoir and 2 more potential reservoirs in an area that has been a wealth of revenue for the majors the likes of Chevron USA Inc.

I consider this as an excellent opportunity for our 12M market cap company, nothwithstanding that AOC have also identified 2 further independent prospects within the farm-in block.

glta
R