AusTex Oil Limited (ASX:AOK) Commences Drilling At Eisenhour #1 Well McCracken Project, Kansas
Sydney, Mar 9, 2010 AEST (ABN Newswire) - AusTex Oil Limited (
ASX:AOK) (PINK:ATXDF), advises that drilling of the wildcat Eisenhour #1 Well commenced at 9.30am CDT Monday 8 March 2010.
The location for the Eisenhour #1 Well was chosen following a technical review of open-hole logs from the Billie #1 Well (drilled in 2009) along with 3D seismic data. The well is targeting the Lansing-Kansas City and Cherokee formations with an expected Total Depth of 4400 feet on a structural high with a four-way closure identified by the Company's geophysicist. Drilling operations are scheduled to take between 7 - 10 days.
The 3200 acre McCracken Project is located in Ness and Rush Counties, Kansas, near the town of McCracken.
AOK holds a 63.92% Working Interest and 52.4% Net Revenue Interest in this project.
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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