AusTex Oil Limited Stock Market Press Releases and Company Profile
AusTex Oil Limited (ASX:AOK) Lancaster #9 Well Successfully Reaches Total Depth And Logs Confirm Hydrocarbons in Multiple Formations
AusTex Oil Limited (ASX:AOK) Lancaster #9 Well Successfully Reaches Total Depth And Logs Confirm Hydrocarbons in Multiple Formations

Sydney, Nov 22, 2010 AEST (ABN Newswire) - AusTex Oil Limited (googlechartASX:AOK), is pleased to advise that drilling of the Lancaster No.9 Well successfully reached TD at 2,633 feet on Friday 19 November, Tulsa time. During drilling operations free oil and gas was displaced to the surface.

Well logs and samples collected confirm hydrocarbons have been intersected in multiple zones including three of the Simpson Series sandstones and the Arbuckle formation.

The well has logged structurally higher than the Lancaster #8 well and has confirmed over 100 feet of oil and gas pay zones in the Simpson Series formation in both wells. Reviews of the well log data and surface geology show the formations follow the surface structural high at the location with additional well sites available at 10 acre pacing in this part of the lease.

The well has been cased and will be completed for production sting in the Simpson Series formations.

AOK holds 100% Working Interest and 80% Net Revenue Interest in this section of the project.

For the full announcement including figures, please refer to the following link:

http://www.abnnewswire.net/media/en/docs/64234-ASX-AOK-614363.pdf

About AusTex Oil Limited

AusTex Oil Limited ASX AOKAusTex 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.

https://twitter.com/austexaok abnnewswire.com 


Contact

Daniel Lanskey
Managing Director
Tel: +61-2-9238-2363
http://www.austexoil.com



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