AusTex Oil Limited (ASX:AOK) Provides An Update On Operations In Kansas
Sydney, Mar 16, 2010 AEST (ABN Newswire) - AusTex Oil Limited (
ASX:AOK) advises the following update on operations in Kansas.
Eisenhour #1 Well - McCracken Project
The operator, Castle Resources Inc., advises that drilling of the wildcat Eisenhour #1 well reached a Total Depth (TD) of 4100 feet overnight. The well had oil shows in the Cherokee formation between 3970 feet and 4009 feet, however, Drill Stem Tests conducted on two intervals failed to recover commercial oil or gas.
The well has been plugged and abandoned.
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.
Cooper Project - Sheridan County
Drilling operations are underway on the water disposal well located south of the successful Clark #1 Well. The operator, Castle Resources Inc., advises that testing of the disposal system should commence next week.
Once the disposal well is completed, oil production from the Lansing-Kansas City formation in the Clark #1 well is planned. During completion of the well, the Lansing-Kansas City formation tested at 230 barrels of oil per day with associated water, with the Toronto formation testing at 250 barrels of oil per day. The well has been producing from the Lansing-Kansas City formation since late January. Permits have been obtained to drill another 3 wells to offset the Clark #1 well with drilling expected to commence by the end of March 2010. AOK holds a 53% working interest and a 45% 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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