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 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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