Australian Oil Company Limited

AusTex Oil Limited (ASX:AOK), is pleased to advise its stakeholders that the Lancaster #8 well has been completed for production at 2500 feet.

AusTex Oil Limited (ASX:AOK) is pleased to advise that drilling of the Rolf #1 Well in North West Kansas successfully reached a Total Depth of 3,470 feet. Samples obtained during drilling and logs confirmed the well intersected oil and gas in the Lansing Kansas City and Arbuckle formations.

AusTex Oil Limited (ASX:AOK), advises that drilling has commenced on the Rolf #1 Well in North West Kansas. AOK has acquired a 50% Working Interest and 38% Net Revenue Interest with Castle Resources Inc. (CVE:CRI), as partner and operator in a 3,000 acre addition to its in Northwest Kansas Project.

AusTex Oil Limited (ASX:AOK), advises that it has settled the acquisition of the East Tonkawa Unit, 907 acres in Kay County. The Unit is held by production with AOK holding a 100% Working Interest and 81.25% Net Revenue Interest.

AusTex Oil Limited (ASX:AOK), advises that drilling of the Lancaster #8 successfully reached Total Depth of 2,566 feet on Thursday evening, 24 September 2010 (Tulsa Time).

AusTex Oil Limited (ASX:AOK), advises the following update on the new oil discovery in Kansas.

AusTex Oil Limited (ASX:AOK) is an Australian based company engaged in the exploration and development of oil leases in Oklahoma and Kansas in the US. Low risk development of the Lancaster and Sweet Leases in Oklahoma provide the company with a solid production base; while the Cooper project in Kansas is an early stage discovery that could provide substantial upside. The yet to be completed Tonkawa East acquisition in Oklahoma, also promises substantial upside through the application of new horizontal well technology.

AusTex Oil Limited (ASX:AOK) is an Australian listed oil and gas producer, focused on reworking and developing oil and gas leases in the USA. The operating focus is the US states of Oklahoma and Kansas. Recent positive discoveries from the Clark #1 & Clarke #5 in Kansas maintain our bright outlook for AOK and reinforce their position as being on track as a financially self sufficient oil and gas producer.

AusTex Oil Limited (ASX:AOK), is pleased to advise that it has entered into a Letter of Intent to acquire ~907 acres in Kay County, near the town of Tonkawa, Oklahoma and in an area of aggressive development of oil projects by a number of operators.

AusTex Oil Limited (ASX:AOK) releases Quarterly Activities And Cash Flow Report.