AusTex Oil Limited (ASX:AOK) Commences Trading on OTCQX International in New York
Sydney, Sep 13, 2011 AEST (ABN Newswire) - Australian listed oil and gas Exploration and Production Company, AusTex Oil Limited (
ASX:AOK) (OTCQX:ATXDY), is pleased to announce commencement of trading of its sponsored American Depositary Receipts (ADR) on OTCQX International.
OTCQX International is the premium tier of the US Over-the Counter (OTC) marketplace, giving non-US companies access to US investors without the duplicative regulatory costs required of listing on a traditional US exchange. The OTCQX is fully electronic and gives investors access through all major online and full-service brokerage firms in the United States.
BNY Mellon acts as the Company's depositary bank for the ADR facility. Any queries in relation to the ADR facility can be directed to BNY Mellon at www.adrbnymellon.com or by contacting AusTex Oil directly.
AusTex Oil has appointed C. K. Cooper & Company as Principal American Liaison (PAL). C. K. COOPER is a leading boutique investment bank with demonstrated success in assisting Oil and Gas companies grow their US investor base. The role of a PAL includes providing guidance on the OTCQX requirements. www.ckcooper.com
Daniel Lanskey, Managing Director of AusTex Oil, commented: "Recently we attracted our first US Investors to AusTex with the introduction of ICO Fund as our largest shareholder. The OTCQX opens access to the broader US Investor market and we have a well planned schedule of marketing activities underway in North America. Our current development drilling in the Mississippi Lime play in Oklahoma will provide us with good newsflow as we work with C. K. Cooper & Company to raise awareness of the company throughout the USA".
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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