AusTex Oil Limited (ASX:AOK) Announces Mayo-Moore #6 Well Success And Baggett #33-3 Well Completion Update On Lancaster Lease Group, Oklahoma
Sydney, June 15, 2010 AEST (ABN Newswire) - AusTex Oil Limited (
ASX:AOK), advises the following update on operations in Oklahoma.
Mayo Moore #6 Well Success
Drilling of the Mayo Moore #6 Well commenced on Friday morning, Tulsa time, and reached Total Depth of 2,485 feet on Sunday afternoon. The Mayo Moore #6 well is a step out well to the west of the successful Mayo Moore #5 and #7 wells.
Logs were completed overnight which indicate the well intersected hydrocarbons in the Upper Red Fork, Lower Red Fork, Burgess and Wilcox formations.
The well will be completed for oil production.
Production Testing commences on Baggett #33-3
The Baggett #33-3 has been completed for oil production in the Wilcox Formation at 2,160 feet. The well is now on pump and production testing has commenced.
A further update on completion of the Hollie #2 well and production tests will be released in due course.
AOK holds a 100% Working Interest and 81.25% 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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