AusTex Oil Limited (ASX:AOK) Lancaster #8 Well Drilling Successful, Mayo Moore #10 Drilling To Commence At Lancaster Lease Group, Oklahoma
Sydney, Sep 27, 2010 AEST (ABN Newswire) - AusTex Oil Limited (
ASX:AOK), advises that drilling of the Lancaster #8 successfully reached Total Depth of 2,566 feet on Thursday evening, 24 September 2010 (Tulsa Time).
Samples obtained during drilling and logs completed confirm the well intersected hydrocarbons in the Simpson Sands series and Arbuckle formation along with a number of shallower formations. The well logged 65 feet structurally higher than nearby wells. Casing has been set to the top of the Arbuckle and the well is to be production tested with an open hole completion.
The rig is to move onto the Mayo Moore #10 injection well on the east side of the lease with drilling to commence on Monday 27 September 2010 (Tulsa Time) for enhanced recovery.
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.
| ||
|
