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Sydney, Jan 28, 2011 (ABN Newswire) - AusTex Oil Limited (
ASX:AOK) is pleased to announce the following update on drilling operations underway in Kansas.
Castle Resources Inc. (CVE:CRI) (PINK:CUNCF), as operator, advises that drilling on the Pratt #1 well has reached 3,862 feet and has encountered free oil and gas in the Toronto Formation between 3,827 feet to 3,862 feet. A Drill Stem Test is underway to test this zone before drilling continues to the Topeka and Lansing Kansas City Formations.
The Pratt #1 well is located to the north of the Clark #1 discovery well with a projected TD of 4,400 feet. 3D seismic conducted on the 26,500 acre project identified a four way closure at this site.
AOK holds a 53% Working Interest and a 43.5% Net Revenue interest in this project located in Sheridan County, Kansas.
Background
The Cooper Project is located in Sheridan County, Kansas, near the town of Hoxie. 3D seismic on the 26,500 acre project identified more than 20 four way closures within the acreage. If found to be oil bearing, each closure could host multiple production wells, making this project an exciting high risk / high reward opportunity for AOK. The producing Clark #1 and Cooper #1 discovery wells were drilled in the first stages of exploration. Along with other well data in the area the Seismic information has been recalibrated to refine the identified prospects. This area of North West Kansas is the location of many small oil fields with production from the Toronto, Topeka and Lansing Kansas City formations.
ASX:AOK) is pleased to announce the following update on drilling operations underway in Kansas. Castle Resources Inc. (
CVE:CRI) (PINK:CUNCF), as operator, advises that drilling on the Pratt #1 well has reached 3,862 feet and has encountered free oil and gas in the Toronto Formation between 3,827 feet to 3,862 feet. A Drill Stem Test is underway to test this zone before drilling continues to the Topeka and Lansing Kansas City Formations.The Pratt #1 well is located to the north of the Clark #1 discovery well with a projected TD of 4,400 feet. 3D seismic conducted on the 26,500 acre project identified a four way closure at this site.
AOK holds a 53% Working Interest and a 43.5% Net Revenue interest in this project located in Sheridan County, Kansas.
Background
The Cooper Project is located in Sheridan County, Kansas, near the town of Hoxie. 3D seismic on the 26,500 acre project identified more than 20 four way closures within the acreage. If found to be oil bearing, each closure could host multiple production wells, making this project an exciting high risk / high reward opportunity for AOK. The producing Clark #1 and Cooper #1 discovery wells were drilled in the first stages of exploration. Along with other well data in the area the Seismic information has been recalibrated to refine the identified prospects. This area of North West Kansas is the location of many small oil fields with production from the Toronto, Topeka and Lansing Kansas City formations.
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About AusTex Oil Limited
AusTex Oil Limited (ASX:AOK) (OTCQX:ATXDY) is an Australia-based company. The Company is engaged in the development of oil and gas leases in the United States. It produces oil and gas from leases in Oklahoma and Kansas. It is also engaged in the exploration, development and production of hydrocarbons in the United States. Its wholly owned subsidiaries include International Energy Corporation (Oklahoma), International Energy Corporation (Kansas) and Well Enhancement Services LLC. During the year fiscal year ended March 31, 2009 (fiscal 2009), the Company was engaged in the drilling of three wells on the Lancaster Lease group, Tulsa County; two wells on the Sweet Unit, Pawnee County, and one well on the BlueHawk Project in Osage County.
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>>>       AusTex Oil Limited>>> Castle Resources Inc. |
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