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Oulnina Station is a pastoral lease that operates as a sheep station in South Australia.

It is situated approximately south east of Mannahill and east of Yunta.

The property had been extablished prior to 1861, in 1862 Henry Lorenzo Sprigg owned the station. Sprigg struck financial problems in 1867 and by 1868 both Oulnina and Wadnaminga Stations were put up for sale. The two runs occupied a combined area of are were stocked with a total of 21,800 sheep. The property had woolshed, huts, yards and 14 wells. The stations were acquired by Philip Levi and Co. who put them up for sale along with many other of their properties in 1870. At this time Oulnina and Wadnaminga were stocked with 17,000 sheep. The area was struck by a plague of grasshoppers in 1872 with most of the available feed for stock being lost. In 1880, a total of 59,095 sheep were shorn at Oulnina.

Gold was found on Oulnina in 1885 with syndicate being formed shortly afterward to work the claim.

In 1890 only 16,092 sheep were shorn at the property.

In 1897 the property comprised and was divided into 17 paddocks. The flock at the time was estimated to be 40,000 sheep.

In 1907 the property was acquired by W. J. McBride from the executors or W. H. Duncan's estate. Oulnina occupied an area of and was stocked with 38,597 sheep, 62 cattle and 64 horses. It has been divided into 38 paddocks and was fully frenced. Stock could be watered from 9 wells or 26 dams with one permanent spring. McBride paid £53,300 for the property.

In 1911 the property was acquired, along with nearby Outlapa Station, by Robert Crawford who purchased them from R. J. McBride. The stations had a combined area of and was stocked with 93,000 sheep, 100 horses and 100 cattle. Crawford intended to sub-divide Oulnina into 11 separate blocks and sell them. Oulnina comprised and was divided into blocks with the largest being are put up for sale shortly afterward.

Many of the leases, collectively known as Oulnina Park, were acquired by J. G. Terry who sold them off in 1917. George Brooks acquired many of these, including the homestead block when it occupied an area of approximately , and retained it until his death in 1926.

Maurice Francis was the owner of the property in 2013.