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 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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