Quarterly Activities and Cashflow Report
Sydney, Feb 1, 2012 AEST (ABN Newswire) - AusTex Oil Limited (
ASX:AOK) (OTCQX:ATXDY) is pleased to provide a quarterly activities and cashflow report for the period ended 31 December 2011.
Highlights
Production success in Mississippi Lime - Northern Oklahoma
-- 2 Wells now in Production - additional wells planned
-- Unaudited Reserves Estimated at 9.4 million BOE
- Additional 8,100 acres leased in Kansas Mississippi Lime area
- Production average increases to 215 boe/d - January 2012
- Gross Revenue for Quarter of $US642,750
AusTex Oil Limited (AusTex or the Company) (ASX:AOK) (OTCQX:ATXDY) is an oil and gas exploration and production company with operations in Kansas and Oklahoma, in the mid-continent of the United States of America.
The Company operates leases in Oklahoma through its wholly owned subsidiary, International Energy Corporation (Oklahoma) (IEC-OK), with offices located at 1801 East 71st Street, Tulsa. In Kansas, AusTex is the major working interest partner with Castle Resources Inc., as operator.
AusTex now holds interests in over >65,000 acres of oil and gas leases and is focusing on development in the Mississippi Lime play in both States.
Company Overview
ASX Code: AOKQX International Code: (50:1 ADR) ATXDYClosing price 30/12/2011: $0.10Market Capitalisation $28mCash/Investments on hand: $1.1mShares outstanding: 280,480,451Share price range (12 months): $0.065-$0.14
To view the complete AusTex Oil Quarterly Report, please refer to the following link below:
http://media.abnnewswire.net/media/en/docs/ASX-AOK-665326.pdf
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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