Australian Oil Co. has appointed experienced upstream oil and gas executive Tom Streitberg as Executive Chairman, securing an immediate AU$300,000 personal capital injection to bolster its domestic and international growth ambitions.
Streitberg assumes the role for a three-year term with immediate effect. He brings more than 25 years of corporate advisory, legal, and operational experience in the resources sector, including previous senior executive roles at ASX-listed producers ARC Energy and Buru Energy.
As part of his appointment, Streitberg will inject AU$300,000 into the company through a placement comprising 103,448,276 new fully paid ordinary shares at 0.29 cents per share, alongside 51,724,138 options exercisable at 0.6 cents per share on or before June 30, 2028.
Streitberg has agreed to receive 100 per cent of his executive remuneration and director’s fees in equity rather than cash. This structure preserves the company’s working capital to fund exploration and asset acquisition across Australian and international markets.
Australian Oil Managing Director Kane Marshall welcomed the appointment, describing it as part of the company’s ongoing program to revitalise the company into an operator of high-impact energy assets.
“Tom is not only intimately familiar with the Australian upstream oil and gas business but has been involved in a lot of the strategic thinking of the company for many months, making him a natural fit for our Australian ambitions,” Marshall said.
Streitberg highlighted the rising global focus on domestic energy security and shifting supply dynamics.
“The state of the world highlights the importance of local energy security for Australia. The company is steadily building a portfolio that helps to provide that security,” Streitberg said.
“At the same time, countries around the world are looking to diversify supply in an environment of increasing demand. This is opening the door for exploration in areas that might previously have been overlooked, providing the opportunity for significant value creation.”
The newly raised capital will directly fund operational development across the company’s existing assets while accelerating new venture evaluations.
