United States
                       Securities and Exchange Commission
                                   Form 12b-25

                                                        SEC File No.  000-26721

 

                           NOTIFICATION OF LATE FILING


(Check One): [ ] Form 10-K and Form 10-KSB; [ ] Form 20-F;
             [ ] Form 11-K; [X] Form 10-Q and Form 10-QSB; [ ] Form N-SAR
 

              For Period Ended:  September 30, 2004

              _ Transition report on Form 10-K
              _ Transition Report on Form 20-F
              _ Transition Report on Form 11-K
              _ Transition Report on Form 10-Q
              _ Transition Report on Form N-SAR

              For the Transition Period Ended: ___________________________

If the notification relates to a portion of the filing checked above, identify
the Item(s) to which the notification relates.

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PART I: - REGISTRANT INFORMATION


AUSTRALIAN OIL & GAS CORPORATION
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Full Name of Registrant

 
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Former Name if Applicable

2480 North Tolemac Way, Prescott, Arizona  86305
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Address of Principal Executive Office (Street and Number)
City, State and Zip Code







PART II - RULES 12B-25(b) AND (c)

If the subject report could not be filed without unreasonable effort or expense
and the registrant seeks relief pursuant to Rule 12b-25(b), the following should
be completed. (Check box if appropriate)

               (a)  The reasons described in reasonable detail in Part III of
                    this form could not be eliminated without unreasonable
                    effort or expense;

               (b)  The subject annual report, semi-annual report, transition
   X                report on Form 10-K, Form 20-F, Form 11-K or Form N-SAR, or
  ---               portion thereof, will be filed on or before the fifteenth
                    calendar day following the prescribed due date; or the
                    subject quarterly report or transition report on Form 10-Q,
                    or portion thereof, will be filed on or before the 5th
                    calendar day after the prescribed due date; and
 
               (c)  The accountant's statement or other exhibit required by Rule
                    12b-25(c) has been attached if applicable.

PART III - NARRATIVE

State below in reasonable detail the reasons why Forms 10-K, 20-F, 10-Q, N-SAR,
or the transition report or portion thereof, could not be filed within the
prescribed time period.

     The Company and its accountants need additional time to finalize and
     analyze its financial statements and prepare Management's Discussion and
     Analysis of Financial Condition and Results of Operation.


PART IV - OTHER INFORMATION

(1) Name and telephone number of person to contact in regard to this
notification.

Ray Hill                        (928)                   778 1450
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  (Name)                    (Area Code)            (Telephone Number)

(2) Have all other periodic reports required under Section 13 or 15(d) of the
Securities Exchange Act of 1934 or Section 30 of the Investment Company Act of
1940 during the preceding 12 months or for such shorter period that the
registrant was required to file such reports(s) been filed? If answer is no,
identity report(s)

[X]  Yes [ ] No

(3) Is it anticipated that any significant change in results of operations from
the corresponding period for the last fiscal year will be reflected by the
earnings statements to be included in the subject report or portion thereof?

[ ] Yes [X] No

If so, attach an explanation of the anticipated change, both narratively and
quantitatively, and, if appropriate, state the reasons why a reasonable estimate
of the results cannot be made.






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                        AUSTRALIAN OIL & GAS CORPORATION
                        --------------------------------
                   Name of Registrant as Specified in Charter

has caused this notification to be signed on its behalf by the undersigned
thereunto duly authorized.



Date: November 15, 2004      By: /s/ E. Geoffrey Albers
                                 ---------------------------------------------
                                 President