AusTex Oil Limited (ASX:AOK) Baggett #33-4 Well Drilling Success At Lancaster Lease Group, Oklahoma
Sydney, July 26, 2010 AEST (ABN Newswire) - AusTex Oil Limited (
ASX:AOK), advises that drilling of the Baggett #33-4 successfully reached Total Depth of 1,897 feet on Friday, 23 July 2010. The well is located on the eastern edge of the Lancaster Lease Group and to the north of the Baggett #33-3.
Logs have been completed which have confirmed the well intersected hydrocarbons in the Prue, Red Fork and Tanaha formations. The well has been cased and will be completed for production.
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.
| ||
|
