AusTex Oil Limited (ASX:AOK) To Seek Toronto Stock Exchange Listing
Sydney, Nov 11, 2010 AEST (ABN Newswire) - AusTex Oil Limited (
ASX:AOK), is pleased to announce that it is seeking a dual listing on the Toronto Stock Exchange (TSX) during the first half of 2011.
The Directors believe a dual listing on the TSX is an important step to raise the profile of the Company while being accessible to the larger North American oil and gas investment community.
Toronto based Kingsdale Capital Markets Inc. (Kingsdale), has been engaged by the Company in the role of sponsor and advisor to assist AOK with preparations for the proposed listing. Kingsdale is a member of the TSX Venture Exchange, the IIROC and a Participating Organization of the Toronto Stock Exchange.
AOK Managing Director, Daniel Lanskey commented, "In the last 12 months we have seen a surge in onshore development in the USA as many larger companies re-align themselves to pursue oil focused opportunities. Over the last 2 years we have grown our footprint of leases in Kansas and Oklahoma to in excess of 70,000 acres. As our oil production in both states continues to grow, we see access to the large investment community in North America as an important step in gaining recognition for the underlying value we believe AOK represents".
The Company intends to maintain its current listing on the Australian Securities Exchange.
Further information in relation to the timing and progress of the proposed TSX listing will be provided in due course.
About AusTex Oil Limited
AusTex Oil Limited (ASX:AOK) (OTCQX:ATXDY) is a Public Company listed on the Australian Securities Exchange (ASX) and the OTCQX.
AusTex is focused on exploration and development of oil and gas leases in the USA. The company produces oil and gas in Oklahoma and Kansas and is currently developing producing leases in both states with interests in 11,600 net acres of oil and gas leases in the Mississippi Lime Play. The Company has net production of circa 800 boe/day with Independent 1P reserves certified at 3.505 Million BOE with NPV10 of US34.8 million as at 31 December 2015.
US operations are based in Tulsa, Oklahoma, with an office at 1801 East 71st Street. International Energy Corporation (Oklahoma) is a wholly owned subsidiary and a licensed oil and gas operator in Oklahoma and Kansas.
| ||
|
