AusTex Oil Limited (ASX:AOK) Commences Baggett #33-4 Well Drilling On Lancaster Lease Group, Oklahoma
Sydney, July 22, 2010 AEST (ABN Newswire) - AusTex Oil Limited (
ASX:AOK), advises that drilling of the Baggett #33-4 commenced overnight on the Lancaster Lease Group, Tulsa County, Oklahoma. Surface pipe has been set at 322 feet.
The well is targeting the Red Fork and Tenaha Formations with an expected Total Depth of 1,900 feet. Drilling operations should be completed within 3-4 days.
The Hollie #2, Mayo Moore #6 and the Helen Lancaster #1 wells have now been completed for production with pump jacks being fitted. Production testing on these three wells will commence later this week.
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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