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 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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