AusTex Oil Limited (ASX:AOK) To Commence Drilling On Mayo Moore #7 Well Lancaster Lease Group, Tulsa County Oklahoma
Sydney, Feb 15, 2010 AEST (ABN Newswire) - AusTex Oil Limited (
ASX:AOK) (PINK:ATXDF) advises that drilling of the Mayo Moore #7 Well is expected to commence this week. This well is a 50 foot offsetting twin to the recently successful Mayo Moore #5 Well, which is producing oil and gas from the Red Fork Formation at 1,500 feet.
MM #7 is targeting the shallow Big Lime Formation at 1,100 feet, which discharged free oil and gas into the pits during drilling of Mayo Moore #5. If successful, the Big Lime Formation will be the fifth producing formation on the 650 acre Lancaster Project, including the Arbuckle, Wilcox, Tanneha, Red Fork and Big Lime formations.
AOK holds a 100% Working Interest and 81.25% Net Revenue Interest in this project.
----------------------------------Pennsylvianian Cleveland Sst Big Lime Oswego Prue Sst Skinner Sst Red Fork Sst (A,B) Tanneha Sst Bartlesville Sst--------------------------------------------------------------------Mississipian Burgess Sst Mississipi Chat Mississipi Lime Woodford Shale--------------------------------------------------------------------Ordivician Misener Sst Wilcox Sst (A,B,C) Tyner Sst Burgen Sst Arbuckle Dolo----------------------------------Stratigraphical Column - Tulsa County
About Australian Oil Company Limited
Australian Oil Company Limited (ASX:AOK) (OTCMKTS:SGCSF) is an Australian-based energy company focused on under-explored, recently over-looked, world class oil and gas opportunities near under-supplied markets. The Company is currently focussed on conventional oil and gas exploration and production in the Sacramento Basin in California. Australian Oil has a portfolio of natural gas and oil producing wells in addition to prospects and discoveries at various exploration and appraisal stages. AOK is in the process of evaluating the acquisition of oil and gas producing and exploration assets to enhance the Company's strategic needs and deliver shareholder value.
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