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Distributed: Feb 1, 2012

AusTex Oil Limited (ASX:AOK) Quarterly Activities and Cashflow Report

WWW:www.austexoil.com
(ABN) Company Overview

AusTex Oil Limited (ASX:AOK)

Quarterly Activities and Cashflow Report

Sydney, Feb 1, 2012 (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:                                  AOK
QX International Code:        (50:1 ADR) ATXDY
Closing price 30/12/2011:                $0.10
Market Capitalisation                     $28m
Cash/Investments on hand:                $1.1m
Shares outstanding:                280,480,451
Share 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 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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