U.S. SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
AMENDMENT NO. 1
to
FORM 10-QSB
[x] QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(D) OF THE
SECURITIES EXCHANGE ACT OF 1934
For the quarterly period ended: JUNE 30, 2003
[ ] TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(D) OF THE
SECURITIES EXCHANGE ACT OF 1934
For the transition period from ________ to _________
Commission file number 0-26721
AUSTRALIAN OIL & GAS CORPORATION
(Exact name of small business issuer
as specified in its charter)
DELAWARE 84-1379164
-------- ----------
(State or other jurisdiction (IRS Employer
of incorporation or organization) Identification No.)
2480 North Tolemac Way, Prescott, Arizona 86305
(928)778-1450
----------------------------------------------
(Issuer's address and telephone number)
Synergy Technologies Corporation
1689 Hawthorne Drive, Conroe, Texas 77301-3284
----------------------------------------------
(Former name, former address and former
fiscal year, if changed since last report)
Check whether the issuer (1) filed all reports required to be filed by Section
13 or 15(d) of the Exchange Act during the past 12 months (or for such shorter
period that the registrant was required to file such reports), and (2) has been
subject to such filing requirements for the past 90 days.
Yes X No
--- ---
State the number of shares outstanding of each of the issuer's classes of common
equity, as of the last practicable date:
27,300,550 shares of common stock, $0.001 par value, as of August 14, 2003.
Transitional Small Business Disclosure Format
(check one): Yes No X
--- ---
FORWARD-LOOKING STATEMENTS
Except for historical information, this report contains forward-looking
statements within the meaning of Section 21E of the Securities Exchange Act of
1934. Such forward-looking statements involve risks and uncertainties,
including, among other things, statements regarding our business strategy,
future revenues and anticipated costs and expenses. Such forward-looking
statements include, among others, those statements including the words
"expects," "anticipates," "intends," "believes" and similar language. Our actual
results may differ significantly from those projected in the forward-looking
statements. Factors that might cause or contribute to such differences include,
but are not limited to, those discussed in the section "Management's Discussion
and Analysis of Financial Condition and Results of Operations." You are
cautioned not to place undue reliance on the forward-looking statements, which
speak only as of the date of this report. We undertake no obligation to publicly
release any revisions to the forward-looking statements or reflect events or
circumstances taking place after the date of this document.
PART I -- FINANCIAL INFORMATION
ITEM 1. FINANCIAL STATEMENTS.
2
AUSTRALIAN OIL & GAS CORPORATION
AND SUBSIDIARIES
(A DEVELOPMENT STAGE COMPANY)
FINANCIAL STATEMENTS
(UNAUDITED)
PREPARED BY MANAGEMENT
JUNE 30, 2003
3
AUSTRALIAN OIL AND GAS CORPORATION
(FORMERLY SYNERGY TECHNOLOGIES CORPORATION)
AND SUBSIDIARIES
(A DEVELOPMENT STAGE COMPANY)
JUNE 30, 2003
CONTENTS
Page
----
Balance Sheet 1
Statements of Operations 2
Statements of Cash Flows 4
AUSTRALIAN OIL AND GAS CORPORATION
(FORMERLY SYNERGY TECHNOLOGIES CORPORATION)
AND SUBSIDIARIES
(A DEVELOPMENT STAGE COMPANY)
CONSOLIDATED BALANCE SHEETS
AS AT AS AT
JUNE 30, 2003 DECEMBER 31, 2002
(UNAUDITED) (AUDITED)
------------- -----------------
ASSETS
CURRENT ASSETS
Cash $ 299,692 $ 17,898
Prepaid expenses 75,000 48,439
--------- ------------
TOTAL CURRENT ASSETS 374,692 66,337
INVESTMENTS
SynGen Technologies - 303,312
CPJ Technologies - 454,968
--------- ------------
TOTAL INVESTMENTS - 758,280
Office equipment and computers - 44,325
--------- ------------
TOTAL ASSETS $ 374,692 $ 868,942
========= ============
LIABILITIES AND STOCKHOLDERS' DEFICIT
CURRENT LIABILITIES
Accounts payable and Accrued expenses $ 299,692 $ 81,791
Payable to unsecured claims - 90,000
Notes payable - 257,960
Accrued interest on notes - 2,361
--------- ------------
TOTAL CURRENT LIABILITIES 299,692 342,112
LIABILITIES SUBJECT TO COMPROMISE
Accounts payable - 2,032,608
Convertible debentures - 1,259,100
Loans payable - 130,000
Accrued interest to November 12, 2002 - 21,220
--------- ------------
TOTAL LIABILITIES SUBJECT TO COMPROMISE - 3,442,928
TOTAL LIABILITIES - 3,785,040
STOCKHOLDERS' DEFICIT
Common stock, $0.001 par value, 75,000,000
shares authorized, 27,300,550 and 48,005,521
shares, respectively, issued and outstanding 27,501 96,992
Additional paid in capital 47,499 57,700,516
Deficit accumulated during development stage - (60,713,606)
--------- ------------
TOTAL STOCKHOLDERS' DEFICIT 75,000 (2,916,098)
--------- ------------
TOTAL LIABILITIES AND STOCKHOLDERS' DEFICIT $ 374,692 $ 868,942
========= ============
The accompanying notes are an integral part of these financial statements.
AUSTRALIAN OIL AND GAS CORPORATION
(FORMERLY SYNERGY TECHNOLOGIES CORPORATION)
AND SUBSIDIARIES
(A DEVELOPMENT STAGE COMPANY)
CONSOLIDATED STATEMENTS OF OPERATIONS
CUMULATIVE PERIOD
FOR THE SIX MONTHS FROM FEBRUARY 10, 1997
ENDED JUNE 30, (DATE OF INCEPTION)
2003 2002 TO JUNE 30, 2003
(UNAUDITED) (UNAUDITED) (UNAUDITED)
----------- ----------- -----------
OTHER INCOME
Interest income $ - $ 63 $ 35,880
CPJ testing income 25,000 - 25,000
Consulting income - - 8,927
Gain on sale of assets 1,343 - 1,343
------------ ------------ ------------
26,343 63 71,150
EXPENSES
General and administrative 238,386 1,708,410 8,435,498
Stock option compensation - 13,879 997,830
Compensation related to warrants - - 343,744
Technology development 105,627 293,189 3,845,361
Other technology costs - 415,200 1,025,000
Dry well expenses - - 722,210
------------ ------------ ------------
TOTAL EXPENSES 344,013 2,430,678 15,369,643
------------ ------------ ------------
LOSS FROM OPERATIONS (317,670) (2,430,615) (15,298,493)
------------ ------------ ------------
OTHER EXPENSES
Amortization of debt discount and offering costs - - (2,250,000)
Conversion inducement - (888,548) (888,548)
Accrued interest on notes payable 9,240 (131,689) (546,527)
Share of expenses incurred by joint venture - (33,980) (342,161)
Write-down of technology - - (42,414,508)
Gain on disposition - - 802,208
------------ ------------ ------------
(9,240) (1,054,217) (45,639,536)
------------ ------------ ------------
NET LOSS BEFORE REORGANIZATION ITEMS (326,910) (3,484,832) (60,959,638)
------------ ------------ ------------
REORGANIZATION ITEMS
Professional fees 191,120 - (293,607)
------------- ------------ ------------
NET LOSS $ (518,030) $ (3,484,832) $(61,231,636)
============= ============ ============
BASIC AND DILUTED LOSS PER COMMON SHARE $(0.01) $0.09
====== =====
WEIGHTED AVERAGE NUMBER OF COMMON SHARES
USED IN CALCULATION 48,005,521 38,288,807
============= ============
The accompanying notes are an integral part of these financial statements.
AUSTRALIAN OIL AND GAS CORPORATION
(FORMERLY SYNERGY TECHNOLOGIES CORPORATION)
AND SUBSIDIARIES
(A DEVELOPMENT STAGE COMPANY)
CONSOLIDATED STATEMENTS OF OPERATIONS
CUMULATIVE PERIOD
FOR THE THREE MONTHS FROM FEBRUARY 10, 1997
ENDED JUNE 30, (DATE OF INCEPTION)
2003 2002 TO JUNE 30, 2003
(UNAUDITED) (UNAUDITED) (UNAUDITED)
----------- ----------- -----------
OTHER INCOME
Interest income $ - $ 7 $ 35,880
CPJ testing income - - 25,000
Consulting income - - 8,927
Gain on sale of assets 1,343 - 1,343
------------ ------------ ------------
1,343 7 71,150
EXPENSES
General and administrative 2,970 886,216 8,435,498
Stock option compensation - - 997,830
Compensation related to warrants - - 343,744
Technology development - 209,299 3,845,361
Other technology costs - 415,200 1,025,000
Dry well expenses - - 722,210
------------ ------------ ------------
TOTAL EXPENSES 2,970 1,510,715 15,3691,643
------------ ------------ ------------
LOSS FROM OPERATIONS ( 1,627) (1,510,708) (15,298,493)
OTHER EXPENSES
Amortization of debt discount and offering costs - - (2,250,000)
Conversion inducement - (888,548) (888,548)
Accrued interest on notes payable - (76,209) (546,527)
Share of expenses incurred by joint venture - (22,016) (342,161)
Write-down of technology - - (42,414,508)
Gain on disposition - - 802,208
------------ ------------ ------------
- (986,773) (45,639,536)
------------ ------------ ------------
NET LOSS BEFORE REORGANIZATION ITEMS AND TAXES (1,627) (2,497,481) (60,938,029)
------------ ------------ ------------
REORGANIZATION ITEMS
Professional fees (64,564) - (293,607)
------------ ------------ ------------
NET LOSS $ (66,191) $ (2,497,481) $(61,231,636)
============ ============ ============
BASIC AND DILUTED LOSS PER COMMON SHARE $(0.00) $(0.06)
====== ======
WEIGHTED AVERAGE NUMBER OF COMMON SHARES
USED IN CALCULATION 48,005,521 40,442,432
============ ============
The accompanying notes are an integral part of these financial statements.
AUSTRALIAN OIL AND GAS CORPORATION
(FORMERLY SYNERGY TECHNOLOGIES CORPORATION)
AND SUBSIDIARIES
(A DEVELOPMENT STAGE COMPANY)
CONSOLIDATED STATEMENTS OF CASH FLOW
CUMULATIVE PERIOD
FOR THE SIX MONTH PERIODS FROM FEBRUARY 10, 1997
ENDED JUNE 30, (DATE OF INCEPTION)
2003 2002 TO JUNE 30, 2003
(UNAUDITED) (UNAUDITED) (UNAUDITED)
----------- ----------- -----------
CASH FLOWS FROM OPERATING ACTIVITIES
Net loss $ (518,030) $(3,484,832) $(61,231,636)
Adjustments to reconcile net loss to net
cash from operations
Dry well expense - - 722,210
Depreciation, amortization and write-downs 5,717 35,228 46,649,126
Conversion inducement - 888,548 -
Accrued interest on notes payable 9,240 99,593 294,271
Issuance of shares for services - 1,176,725 2,538,251
Issuance of warrants for services - - 343,744
Settlement of debt and acquisition of CPJ - 357,529 357,529
Re-issue of founders shares - 38,500 145,000
Investment in joint ventures - 24,190 50,209
Exchange rate loss - 17,672 75,805
Loss on disposition of assets - - (684,239)
Changes in assets and liabilities
Accounts receivable - 14,017 -
Prepaid expenses and deposits (26,561) (38,629) (80,614)
Accounts payable 41,368 (227,287) 2,449,207
Accounts payable - related parties - - 153,088
Accrued expenses 379,499 -
----------- ----------- ------------
(488,266) (719,247) (8,218,049)
Operating cash flows from reorganization items:
Professional fees - accounts payable 131,306 - 131,306
Professional fees - accrued expenses 21,890 - 21,890
----------- ----------- ------------
NET CASH FLOWS FROM OPERATING ACTIVITIES (335,070) (719,247) (8,064,853)
CASH FLOWS FROM INVESTING ACTIVITIES
Acquisition of property and equipment - (20,770) (140,175)
Disposition of assets (Supplemental Information) 298,642 - 298,642
Other - - (788,188)
----------- ----------- ------------
NET CASH FLOWS FROM INVESTING ACTIVITIES 298,642 (20,770) (629,721)
CASH FLOWS FROM FINANCING ACTIVITIES
Proceeds from notes payable - related parties - - 531,933
Proceeds from (payment to) notes payable 243,222 (55,223) 1,319,478
Net proceeds from convertible debt - - 2,137,500
Sales of common stock - 779,550 4,603,660
Advance received in anticipation of common
stock sale 75,000 - 75,000
Other - - 402,500
----------- ----------- ------------
NET CASH FLOWS FROM FINANCING ACTIVITIES 318,222 724,327 9,070,071
EFFECT OF EXCHANGE RATE CHANGES ON CASH - (17,672) (75,805)
NET CHANGE IN CASH 281,794 (33,362) 299,692
CASH AT BEGINNING OF PERIOD 17,898 38,746 -
----------- ----------- ------------
CASH AT END OF PERIOD $ 299,692 $ 5,384 $ 299,692
=========== =========== ============
The accompanying notes are an integral part of these financial statements.
SUPPLEMENTAL CASH FLOWS INFORMATION
On March 12, 2003, substantially all the Company's assets were sold to a third
party for $300,000 in cash plus the forgiveness of $527,783 in debt and accrued
interest incurred subsequent to the Petition Date, and the Company ceased
operations. The $527,783 consists of loan advances during the fourth quarter of
2002 of $257,960, loan advances during the first quarter of 2003 of $243,222, a
third party payment to a vendor of $15,000 and interest on the loan advances of
$11,601.
Basis of presentation.
At July 30, 2003 the United States bankruptcy Court confirmed our plan of
reorganization. We were reorganized under the laws of the State of Delaware. As
of the effective date of the plan the authorized capital stock of the
reorganized Synergy will consist of 75,000,000 shares of new common stock, .001
par value. Also the name of the corporation was changed to Australian Oil & Gas
Corporation. All stock options, warrants, leases and executory contracts were
cancelled. Unsecured claims will receive 3,000,000 shares of common stock plus
payment of $90,000. Present equity holders will receive one share of new common
for each 10 old shares held for a total of 4,800,550 new shares. G. Albers will
purchase 19,500,000 new shares for $75,000. Accordingly, the accompanying
financials have been adjusted to reflect this transaction as of June 30, 2003.
ITEM 2. MANAGEMENT'S DISCUSSION AND ANALYSIS OR PLAN OF OPERATION
On November 13, 2002, Synergy Technologies Corporation ("Synergy")
filed for protection under Chapter 11 of the United States Bankruptcy Code (the
"Chapter 11 Filing") and sold substantially all of its assets in March 2003
under the auspices and with the approval of the Bankruptcy Court hearing its
petition (see NOTE 2 to the Financial Statements for a more complete description
of the bankruptcy). The Bankruptcy Court entered an Order confirming Synergy's
Plan of Reorganization (the "Plan") on July 30, 2003, which became effective on
August 11, 2003, that describes the manner in which (i) outstanding creditor
claims and shareholder interests will be resolved and (ii) the company will
operate after it emerges from bankruptcy. In accordance with the Plan, upon its
Effective Date, Synergy reincorporated as Australian Oil & Gas Corporation, a
Delaware corporation ("AOG", or the "Company") which is a successor to Synergy
for many purposes, including its reporting requirements under federal securities
laws. Among other things, the Plan provides that the entity which funded the
Plan is obligated to contribute $150,000 to the company's operations over the
next two years.
A discussion of the terms and salient features of the Plan appears
under Part II, Item 5, below.
ITEM 3. CONTROLS AND PROCEDURES
(a) Evaluation of disclosure controls and procedures
Within the 90 days prior to the date of this report, the Company
carried out an evaluation, under the supervision and with the participation of
the Company's management, including the Company's Chief Executive Officer, of
the effectiveness of the design and operation of the Company's disclosure
controls and procedures pursuant to Exchange Act Rule 13a-14. Based upon that
evaluation, the Chief Executive Officer concluded that the Company's disclosure
controls and procedures are effective in timely alerting management to material
information relating to the Company (including its consolidated subsidiaries)
required to be included in the Company's periodic SEC filings.
The Company's management does not expect that its disclosure controls
and procedures or its internal controls will prevent all error and all fraud. A
control system, no matter how well conceived and operated, provides reasonable,
not absolute, assurance that the objectives of the control system are met.
Because there are inherent limitations in all control systems, no evaluation of
controls can provide absolute assurance that all control issues and instances of
fraud, if any, within the Company have been or will be detected. These inherent
limitations include the realities that judgments in decision-making can be
faulty and that breakdowns occur because of simple error or mistake. Controls
can be circumvented by the individual acts of some persons or by collusion of
two or more people. The design of any system of controls is based in part upon
certain assumptions about the likelihood of future events. There can be no
assurance that any design will succeed in achieving its stated goals under all
potential future conditions; over time, controls may become inadequate because
of changes in conditions or deterioration in the degree of compliance with the
policies or procedures. Because of the inherent limitations in a cost-effective
control system, misstatements due to error or fraud may occur and not be
detected.
(b) Changes in internal controls.
There have been no significant changes in the Company's internal
controls or, to its knowledge, in other factors that could significantly affect
internal controls subsequent to the date the Company carried out its evaluation.
5
PART II -- OTHER INFORMATION
ITEM 1. LEGAL PROCEEDINGS
N/A
ITEM 2. CHANGES IN SECURITIES
(a) N/A
(b) N/A
(c) Recent Sales of Unregistered Securities; Use of Proceeds from Registered
Securities
N/A
ITEM 3. DEFAULTS UPON SENIOR SECURITIES
N/A
ITEM 4. SUBMISSION OF MATTERS TO A VOTE OF SECURITY HOLDERS
N/A
ITEM 5. OTHER INFORMATION
As previously reported, on November 13, 2002, Synergy Technologies
Corporation ("Synergy") filed a petition for relief under Chapter 11 ("Chapter
11 Filing") of the United States Bankruptcy Code in the United States Bankruptcy
Court for the Southern District of New York (the "Bankruptcy Court"). During
March 2003, Synergy sold substantially all of its assets to World Energy Systems
Corporation. On July 30, 2003, the Bankruptcy Court confirmed Synergy's Plan of
Reorganization, a copy of which is appended hereto as Exhibit 2.1 (the "Plan"),
as accepted by the corporation's creditors and equity interest holders in
accordance with the provisions of the Bankruptcy Code. The Plan became effective
on August 11, 2003 (the "Effective Date").
The Plan was funded by (i) net cash consideration of $300,000 from the
sale of substantially all of Synergy's assets to World Energy Systems
Corporation and (ii) the payment by the Plan funder of $75,000 in consideration
for 19,500,000 shares of AOG Common Stock and its agreement to contribute up to
$150,000 to AOG during the two-year period after the Effective Date of the Plan.
The Plan provides for, among other things,
o the reincorporation of Synergy in the State of Delaware under the name
Australian Oil & Gas Corporation ("AOG");
o the cancellation of all executory contracts and unexpired leases made
by Synergy prior to the Chapter 11 Filing;
o the payment of an aggregate of approximately $270,000 in full
satisfaction of amounts due to (i) holders administrative claims,
including actual and necessary costs and expenses of preserving
Synergy's business after the Chapter 11 Filing, compensation for legal
and other services and reimbursement of expenses allowed under the
Bankruptcy Code, and certain other specified fees and charges allowed
under the Bankruptcy Code; (ii) holders of priority tax claims,
including
6
unsecured claims of governmental units entitled to priority in payment
pursuant to the Bankruptcy Code, and (iii) the United States Trustee;
o the payment of an aggregate of approximately $90,000 shared pro rata
among all holders of general unsecured claims of creditors of Synergy
as approved by the Bankruptcy Court and the issuance of an aggregate of
3,000,000 shares of the common stock of AOG ("AOG Common Stock") to
such unsecured claim holders on the basis of .86299 of one share for
each dollar of the amount of allowed unsecured claims;
o the cancellation of all outstanding securities of Synergy and the
issuance of one (1) share of AOG Common Stock for every ten (10) shares
of the common stock of Synergy ("Synergy Common Stock") held by
stockholders of Synergy prior to the Chapter 11 Filing, which shall
result in the issuance of 4,800,550 shares of AOG Common Stock;
o the appointment of the following persons to serve as the directors of
the reorganized corporation:
Name Position
---- --------
Ernest Geoffrey Albers Chairman of the Board of Directors
William Ray Hill Director
David Bruce Hill Director
o the issuance of 19,500,000 shares of AOG Common Stock to Albers
Management and Consulting, a Division of Great Missenden Holdings Pty
Ltd. or its designees in consideration of supplying $75,000 for funding
the Plan (herein referred to as the "Plan Funder") and its agreement to
contribute up to $150,000 to AOG during the two-year period after the
effective date of the Plan; and
o the contribution by the Plan Funder of up to $150,000 in working
capital for the reorganized corporation's future operations.
Further, pursuant to the Plan, upon the Effective Date, all matters
provided for in the Plan that would otherwise require the approval of the
stockholders or directors of Synergy or Synergy as reorganized after the
Effective Date, including, without limitation, (i) the authorization to issue or
cause to be issued the common stock of AOG, (ii) the effectiveness of the
Certificate of Incorporation and By-Laws of AOG, (iii) all restructuring
transactions effectuated pursuant to the Plan, (iv) the election or appointment,
as the case may be, of directors and officers of AOG, and (v) the qualification
of AOG as a foreign corporation wherever the conduct of business by such
corporation requires such qualification, shall be deemed to have occurred and
shall be in effect from and after the Effective Date pursuant to the general
corporation law of Delaware and Colorado, without any requirement of further
action by the stockholders or directors of either such corporation.
AOG expects to issue the shares and deliver certificates evidencing the
shares of AOG common stock issuable under the Plan to stockholders within 21
days of the date of this report. As to those persons who held shares of Synergy
in "street name", that is through a broker, trustee or other nominee, and did
not possess a physical certificate, American Stock Transfer and Trust Company,
the stock disbursing agent under the Plan, will cause the appropriate number of
shares of AOG common stock to be delivered to each such person's account
electronically.
7
Under the Plan, all persons receiving shares of AOG common stock other
than directors, officers and "affiliates" [as such term is defined in the
Securities Act of 1933, as amended (the "Securities Act)] of AOG and persons
holding in excess of ten percent (10%) of the outstanding shares of AOG common
stock after giving effect to the issuance of AOG common stock as provided
herein, shall be entitled to sell, transfer, convey or assign their shares of
AOG common stock without restriction and shall receive certificates without any
restrictive legend. All directors, officers and "affiliates" of AOG and persons
holding in excess of ten percent (10%) of the outstanding shares of AOG common
stock after giving effect to the issuance of AOG common stock as provided herein
shall receive "restricted securities" as such term is defined under the
Securities Act.
In order to effectuate the reorganization provisions of the Plan, on
August 11, 2003, Synergy Technologies Corporation merged with and into
Australian Oil & Gas Corporation, a Delaware corporation ("AOG"). AOG was
incorporated on August 6, 2003, and, in accordance with the Plan, is authorized
to issue 75,000,000 shares of common stock, par value $0.001 per share. After
giving effect to the issuance of shares of AOG common stock as provided in the
Plan, there are 27,300,550 shares of AOG common stock outstanding.
Set forth below are the names of each officers of AOG and the position
held:
Name Position
---- --------
Ernest Geoffrey Albers President and Secretary
William Ray Hill Vice President
Management of AOG is currently reviewing certain business opportunities
in the energy industry. The Plan Funder, Albers Management and Consulting, a
Division of Great Missenden Holdings Pty Ltd., has agreed to contribute up to
$150,000 in working capital for AOG's future operations.
On the Effective Date, the over-the-counter bulletin board ("OTCBB")
discontinued quoting Synergy's common stock under the symbol "OILS.OB." The
company has identified a market maker to file the forms necessary in support of
an application to permit the OTCBB to resume quotations in the stock of AOG. If
the application to permit the OTCBB to resume quotations for the reorganized
corporation, is accepted, the OTCBB will resume quotations in AOG common stock
under the trading symbol "AOGC.OB." Management cannot be certain that the AOG
common stock will be quoted on the OTCBB.
ITEM 6. EXHIBITS AND REPORTS ON FORM 8-K
(a) List of Exhibits
2.1 Plan of Reorganization dated May 20, 2003*
2.2 Plan and Agreement of Merger and Reorganization dated August
8, 2003, between Synergy Technologies Corporation and
Australian Oil & Gas Corporation*
99.1 Certification of President under Section 906 of Sarbanes-Oxley
Act of 2002*
* Previously filed.
(b) The following Current Reports on Form 8-K during the second quarter of 2003.
N/A
8
SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934, the
registrant has duly caused this report to be signed on its behalf by the
undersigned thereunto duly authorized.
AUSTRALIAN OIL & GAS CORPORATION
Date: August 26, 2003 By: /s/ E. Geoffrey Albers
------------------------
E. Geoffrey Albers
President
9