AusTex Oil Limited (ASX:AOK) Report On Clark #5 Well Success At Cooper Project, Sheridan County, Kansas
Sydney, June 23, 2010 AEST (ABN Newswire) - AusTex Oil Limited (
ASX:AOK), advises that drilling of the Clark #5 well successfully reached a Total Depth (TD) of 4,150 feet on Tuesday Kansas Time.
Oil shows were present in samples collected from the Toronto formation at 3,839 feet and two zones in the Lansing - Kansas City formation between 3,853 feet and 4,088 feet.
The well has been cased and logs will be completed once cement has set. The Clark #5 well is an offset well at 20 acre spacing to the northwest of the successful Clark #1 well.
Additional step out wells at minimum spacing are planned on the four - way closure identified at this location by 3D seismic.
AOK holds a 53% Working Interest and 46% Net Revenue Interest in the 26,500 acre Cooper Project located near Hoxie, Kansas.
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.
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