Sydney, Oct 10, 2012 (ABN Newswire) - United States focused oil & gas produer AusTex Oil Limited (ASX:AOK) (OTCQX:ATXDY) is pleased to update shareholders on its continued well development program at the company's 100% owned 5,500 acre Snake River Project in Kay County, Oklahoma.
AusTex is drilling the first of two vertical wells scheduled during October in the southwestern area of the Snake River Project. Two production hubs have now been established and the Company continues to grow its oil and gas production on the project as new wells are brought online.
ETU #1-6 and #1-7 Wells
Drilling of the ETU #1-6 commenced over the weekend, and surface pipe has been set to 287 feet. As of this morning the rig was drilling ahead at 3,200 feet, and has an expected TD of 4,750 feet, targeting the Mississippi Lime and Woodford Shale intervals.
The #1-6 well is the 10th production well drilled at the Snake River Project. The #1-6 and #1-7 are located on the northside of the river and to the west of Production Hub No. 2.
Further information on well completions and results will be advised over the coming weeks.
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
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