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 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.
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