AusTex Oil Limited (ASX:AOK) Commences Drilling On Clark #3 Well, Kansas
Sydney, April 23, 2010 AEST (ABN Newswire) - AusTex Oil Limited (
ASX:AOK), advises that drilling of the wildcat Clark #3 Well commenced at 8.00am, Kansas Time, Thursday 22 April 2010.
The Clark #3 is a step out well to the successful Clark #1 well and is targeting the Topeka and Lansing-Kansas City formations. Drilling operations should be completed in 7-10 days with an expected Total Depth of 4200 feet.
Water Disposal well completed
The operator, Castle Resources Inc., (CVE:CRI) reports that final testing and state approval of the water disposal well and surface facilities have been completed.
As previously reported, the Clark #1 well encountered oil in two formations, initial flow on test of 250 barrels of oil per day from the Topeka formation. Testing of the Lansing-Kansas City formation produced oil at the rate of 230 barrels of oil per day with associated water. The operator plans to produce the well from both formations now that the water disposal system is operational.
AOK holds a 53% Working Interest and 45% Net Revenue Interest in this project.
-----------------------------------------------------------Name of Well Clark #3-----------------------------------------------------------Lease Name Cooper Project, Sheridan County-----------------------------------------------------------Location Section 32, Township 8 South, Range 28W-----------------------------------------------------------Previous Report NIL-----------------------------------------------------------Operator Castle Resources Inc. (Kansas)-----------------------------------------------------------Progress Report at Spud Date 22 April 20105pm Thursday 22 Drilling aheadApril 2010 (CDT)-----------------------------------------------------------*Clark #2 has been permitted for later drilling
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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