AusTex Oil Limited (ASX:AOK) Spuds Mayo Moore #7 Oil Well In Oklahoma
Sydney, Feb 17, 2010 AEST (ABN Newswire) - AusTex Oil Limited (
ASX:AOK) (PINK:ATXDF) advises that drilling of the Mayo Moore #7 Well commenced Tuesday 16 February 2010 (CDT). Surface casing has been set at 315 feet with cement circulated to the surface successfully. TD of 1100 feet is expected to be reached on Wednesday afternoon (CDT).
AOK holds a 100% Working Interest and 81.25% Net Revenue Interest in this project.
AusTex Oil Limited currently has leasehold areas in Oklahoma and Kansas.
Oklahoma
Six lease locations
Long term lease positions- Held By Production
Infill/development plan commenced 2008
International Energy Corporation (Oklahoma) as operator
(wholly owned subsidiary of AusTex)
Kansas
Five lease locations
JV with Castle Resources Inc. as operator
Exploration and development plan commenced 2008
Cooper Project 26,500 acres - Seismic acquired 2008/2009
Jewel Project 35,000 acres - Drilling first well October 2009
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.
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