AUSTRALIAN OIL COMPANY LIMITED.

ASX:AOKEnergy

2.33B shares on issueASX (delayed) · snapshot 11 Sept 20262.68B fully diluted+15.2% if every option and right converts$0.003price · delayed$7.0Mmarket cap · indicative

Today’s holders own 86.8% of what they think they own, once every option and right converts.

Very high

Dilution risk

Runway under 2 quarters; share count grew 150% in 24 months; 3 cash raises in 24 months

Absolute levels — not a ranking against other companies.

Cash runway1.4 quarters of funding

Share-count growth (24m)149.6%

Raise cadence (24m)3 cash raises

Options & rights overhang15.2% of shares

In-the-money supply0.0% of shares

Pending proposed issuesnone

AUSTRALIAN OIL COMPANY LIMITED.'s ordinary share count grew 149.6% between September 2024 and August 2026, reaching 2.33B shares. The company raised capital three times in the past 24 months, totalling A$3.0M, with the most recent capital raise being a A$155K Share Purchase Plan in May 2026. Options and rights on issue represent 353M potential new shares, or 15.2% of the current share count, with the nearest expiry in December 2027. The company reported A$1.1M in available cash for the June 2026 quarter, sufficient for approximately 1.4 quarters of operations. There are no proposed securities issues pending.

AI-generated summary of this page's cited filings · updated 9 Sept 2026

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15.2%

Options & rights overhang

0.0%

In-the-money supply

Raises · last 12 months

1.4 qtrs

Cash cover · under 2 quarters

Shares on issue — last 2 years

Ordinary shares on issue

Weekly counts from ASX records. Dots mark cash capital raises. Latest count 2.33B per ASX (delayed) (snapshot 11 Sept 2026).

Cash runway

1.4 qtrs

Less than two quarters of funding at the recent spend rate — near-term funding pressure.

Funds operations to about Oct 2026 at the reported spend rate.

$1.1M cash after burn from the quarter ended 30 June 2026 · Runway is computed from Appendix 4C/5B filings and announced raise proceeds. Filed with the quarterly report: $624k cash at quarter end (item 4.6), 0.8 qtrs of funding on the company’s own estimate. Our figure above carries the filed quarter-end balance forward at the reported spend rate and adds announced raise proceeds.

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8 quarters on record — Cash runway history

Quarterly cash, net spend and cover trend from every Appendix 4C/5B on record up to 30 June 2026.

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Issuance timeline

Latest 5 filings (Appendix 2A quoted issues, 3G unquoted, 3H cancellations)

Date	Form	Security	On issue, per this filing	Source
14 Aug 2026	3G · unquoted	AOK : ORDINARY FULLY PAID	2.33B	Appendix 3G
14 Aug 2026	3G · unquoted	AOK : ORDINARY FULLY PAID	2.33B	Appendix 3G
14 Aug 2026	3G · unquoted	AOK : ORDINARY FULLY PAID	2.33B	Appendix 3G
14 Aug 2026	3G · unquoted	AOK : ORDINARY FULLY PAID	2.33B	Appendix 3G
14 Aug 2026	3G · unquoted	AOK : ORDINARY FULLY PAID	2.33B	Appendix 3G

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25 filings on record — Full issuance history

Every quoted and unquoted issue and cancellation on record, plus unquoted securities (Appendix 4.2).

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Capital raises

3 cash raises in the last 24 months · 3 in the last 12 months

every 3.5 monthsaverage gap between raises

3.7 monthssince the most recent

20 Oct 2025 – 22 May 2026first to most recent in this window

$155k

Share Purchase Plan

22 May 2026 COMPLETE

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6 raises on record — Full raise history

Issue price, shares issued, brokers and stated purpose for every raise on record.

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Forward supply

Every dated event on record that could add securities to the register — option expiries to their stated dates and proposed issues over the next 18 months, on one timeline.

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5 dated events on record — Forward supply calendar

Option expiries and proposed issues on one forward timeline, with the securities each could add.

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Placement capacity

How much stock a company can place without asking holders. Listing Rule 7.1 allows 15% of ordinary securities in any 12 months, and every Appendix 3B states how much of it an issue uses.

About 43% of the 15% placement capacity left — about 57% used by Appendix 3B filings in the last 12 months (estimate, as at 2026-09-12). The company has also placed under the additional 10% (Listing Rule 7.1A), which is not counted in this figure. One filing in the window states more under 7.1 than the whole allowance and is not counted, so usage may be higher than this. Holder-approved issues and any later ratification are not deducted, so the true headroom can be higher.

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Placement capacity — LR 7.1 / 7.1A

The filings behind the figure: every Appendix 3B in the window with what it says was issued under 7.1 and 7.1A, each row linked to its filing, and how many shares are left.

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Pending proposed issues

No proposed issues (Appendix 3B) currently pending.

Options & convertible securities

15.2%

Options & rights overhang · of current shares

0.0%

In-the-money supply · at current price

353.2M

Potential new shares

Dec 2027

Nearest expiry

What a price move would switch on

At $0.0030 today, 0 securities are in the money (0.0% of shares on issue). No more priced supply until 1.5× today’s price, which takes it to 296.4M (12.7% of shares).

Priced supply in the money at the price on the axis — the curve, and the only thing on it. Ten prices, sampled: between two of them the true figure lies between the two.
20.0M more carries an exercise price above ten times today’s — off the right of this axis, and in every total on this page.

Code	Security	Type	Exercise price	Expiry	On issue	Source
AOKAC	Options	Price-triggered	$0.004	22 Dec 2027	296.4M	Filing
—	Options	Price-triggered	$0.006	30 June 2028	26.7M	Filing
AOKAD	Options	Price-triggered	$0.025	30 Apr 2029	10.0M	Filing
AOKAE	Options	Price-triggered	$0.035	30 Apr 2029	10.0M	Filing
AOKAF	Options	Price-triggered	$0.045	30 Apr 2029	10.0M	Filing

“Nil” is a stated nil exercise price: nothing is paid to convert. An em dash means the filing names no exercise price at all. Security is read from the filing’s own class description; an em dash there means the description is not one this table labels. One row is one security class, at the number stated in the most recent quotation application that restated it — linked, and dated, in the last column.

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5 option lines on record — In-the-money value & price ladder

What each line is worth in the money today, the price ladder to the next tranche that converts, and the filing description behind every code.

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Director dealings

Date	Director	Type	Shares	Options	Other	Value	Source
14 Aug 2026	John Lloyd Kane Marshall	Other	5.2M	—	155.8M	—	3Y notice
14 Aug 2026	William Ashby	Other incentive	—	3.4M	51.8M	—	3Y notice
6 Aug 2026	John Lloyd Kane Marshall	Buy placement	6.9M	—	—	$20k	3Y notice
6 Aug 2026	William Ashby	Other placement	3.4M	—	—	$10k	3Y notice