AusTex Oil Limited (ASX:AOK) Updates on Operations in Kansas and Oklahoma
Sydney, Oct 13, 2011 AEST (ABN Newswire) - AusTex Oil Limited (
ASX:AOK) (PINK:ATXDY) is pleased to provide the following update to operations in Kansas and Oklahoma.
Ellsworth Project - 3,000 acres - Kansas
AOK 50% WI 38% NRI
Mollhagen #8 Well
Castle Resources Inc., as operator, reports that drilling operations to re-enter and deepen the Mollhagen #8 well are underway in Ellsworth County, Kansas. The well is targeting additional porosity breaks in the Arbuckle Limestone with an expected TD of 3,300 feet.
Snake River Project - 6,000 acres Northern Oklahoma
AOK 100% WI ~80% NRI
ETU #15-4 and #14-5 Wells - completion update
Following analysis and interpretation of logs, a two stage fracture stimulation is scheduled before the end of October on each well. The wells are to be completed in the Mississippi Lime formation with two separate intervals identified as containing producible hydrocarbons. The wells will then be put into production testing.
These wells are the first two of a planned 10 vertical well program to determine future horizontal well locations.
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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