AusTex Oil Limited (ASX:AOK) Reports Production Testing Update on 2nd Mississippi Lime Well
Sydney, Jan 9, 2012 AEST (ABN Newswire) - AusTex Oil Limited (
ASX:AOK) is pleased to announce the the following update on production testing on the ETU #14-5 well located on the East Tonkawa Unit in Kay County Oklahoma. The well has now been tested over a 14 day period with an electric submersible pump. During the test period the well produced an average of average of 85 boe/d with 70 bopd and 90 mcf of gas per day.
A further update will be advised after 30 day testing period has been completed.
Additional Wells is planned for 2012.
The ETU #14-5 and #15-4 are part of a planned 10 vertical well program to develop the Mississippi Lime formation. The data from the initial vertical well program will be used to finalise locations for horizontal development planned during calendar 2012.
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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