Monthly Production for February
Sydney, Mar 23, 2012 AEST (ABN Newswire) - AusTex Oil Limited (
ASX:AOK) (OTCQX:ATXDY) is pleased to report oil and gas production for the month of February 2012.
-----------------------------------------------Month Total Production Average Daily BOE Production-----------------------------------------------October 3,537 114November 3,459 116December 4,180 135January 6,698 216February 4,320** 149**-----------------------------------------------
** The decrease in daily production for the month of February was primarily due to oil and gas production at the Snake River Project in Northern Oklahoma being offline for the period from the 1st to the 17th of February for a Pump Changeover and final hookups to permanent infrastructure which was part of planned completion program. Production thereafter increased when the Well was back on line. By the end of the month daily production had increased to 219/boe.
Wells under Completion for Production
Additional production increases are anticipated for the June Quarter as the following wells are tied into facilities with production expected to commence shortly:-
-------------------------------------------------Well Name Project Status-------------------------------------------------Adams #1 Snake River -OK PerforatedBalder #1-30N Snake River - OK Drilling AheadLudwick #1 Ellsworth - KS Pump FittedMollhagen #8 Ellsworth - KS Waiting on SWD -------------------------------------------------
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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