Sydney, Feb 3, 2012 (ABN Newswire) - AusTex Oil Limited (
ASX:AOK) (OTCQX:ATXDY) - Mississippi Lime Play - ~16,000 acres Northern Oklahoma & Kansas
Snake River Project - Northern Oklahoma
~6,000 acres AOK 100% WI ~80% NRI
ETU #17-6 Well
Following on from the recent success on the ETU #15-4 and ETU #14-5 wells which are both producing oil and gas from the Mississippi Lime formation, preparations to deepen the ETU #17-6 well have been completed. The #17-6 well is currently at a total depth of 4,205 feet and will be deepened to an expected TD of 4,650.
Drilling is expected to commence within the next 7 to 10 days and further updates will be announced as it progresses. The location of the ETU #17-6 is two locations west and one location north of the ETU #14-5 well.
Managing Director, Dan Lanskey commented, "The #17-6 development well is the third vertical well targeting the Mississippi Lime on the East Tonkawa Unit. Our plan is to drill another 7 vertical wells on this project over the coming months which will enable us to identify locations for horizontal development wells planned for later in the year. We are in discussions with a number of groups who have expressed interest in participating in the development of our leases. Recent joint ventures announced by other oeprators in the Mississippi Lime play have resulted in up to 100% of development costs being paid for by the incoming participant".
ASX:AOK) (OTCQX:ATXDY) - Mississippi Lime Play - ~16,000 acres Northern Oklahoma & KansasSnake River Project - Northern Oklahoma
~6,000 acres AOK 100% WI ~80% NRI
ETU #17-6 Well
Following on from the recent success on the ETU #15-4 and ETU #14-5 wells which are both producing oil and gas from the Mississippi Lime formation, preparations to deepen the ETU #17-6 well have been completed. The #17-6 well is currently at a total depth of 4,205 feet and will be deepened to an expected TD of 4,650.
Drilling is expected to commence within the next 7 to 10 days and further updates will be announced as it progresses. The location of the ETU #17-6 is two locations west and one location north of the ETU #14-5 well.
Managing Director, Dan Lanskey commented, "The #17-6 development well is the third vertical well targeting the Mississippi Lime on the East Tonkawa Unit. Our plan is to drill another 7 vertical wells on this project over the coming months which will enable us to identify locations for horizontal development wells planned for later in the year. We are in discussions with a number of groups who have expressed interest in participating in the development of our leases. Recent joint ventures announced by other oeprators in the Mississippi Lime play have resulted in up to 100% of development costs being paid for by the incoming participant".
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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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