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 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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