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 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.
| ||
|
