Sydney, June 12, 2012 (ABN Newswire) - United States focused oil & gas producer and explorer AusTex Oil Limited (ASX:AOK) (OTCQX:ATXDY) today announced that the ETU #17-6 production well in the company's 5,500-acre Snake River Project in Northern Oklahoma has reached a Total Depth (TD) of 4,693 feet.
The well was deepened through 350 feet of the Mississippi Lime structure and had oil shows in the samples and in the pits during drilling and will be completed for production in the Mississippi Lime interval.
Drilling on the ETU #14-7 has commenced and surface pipe has been set with an expected TD of 4,750 feet and is also targeting the Mississippi Lime interval.
AOK holds a 100% working interest and 81.25% net revenue interest in the Snake River Project which sits in the highly prospective Mississippian Lime Play of Northern Oklahoma and Kansas.
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.