AusTex Oil Limited (ASX:AOK) Commences Drilling On Cooper Project Clark #5 Well, Kansas
Sydney, June 16, 2010 AEST (ABN Newswire) - AusTex Oil Limited (
ASX:AOK), advises that drilling of the Clark #5 Well commenced overnight.
The Clark #5 is a step out well to the northwest of the successful Clark #1 on the nearest permitted location. Previously, the Clark #3 well was drilled to test the north-western boundary of the four way closure identified in this section.
The well 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.
AOK holds a 53% Working Interest and 45% Net Revenue Interest in this project.
-------------------------------------------------Name of Well Clark #5-------------------------------------------------Lease Name Cooper Project, Sheridan County-------------------------------------------------Location Section 32, Township 8 South, Range 28W-------------------------------------------------Previous Report NIL-------------------------------------------------Operator Castle Resources Inc. (Kansas)-------------------------------------------------Progress Report Spud Date 15 June 2010 at 6pm Tuesday Drilling ahead15 June 2010 (CDT)-------------------------------------------------
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.
| ||
|
