Australian Oil Company Limited

AusTex Oil Limited (ASX:AOK) releases Quarterly Activities and Cash Flow Report ending 31 March 2010.

AusTex Oil Limited (ASX:AOK) advises that drilling of the Baggett #3-33 Well has commenced on the Lancaster Lease Group, Tulsa County, Oklahoma.

AusTex Oil Limited (ASX:AOK), advises that drilling of the wildcat Clark #3 Well commenced at 8.00am, Kansas Time, Thursday 22 April 2010. The Clark #3 is a step out well to the successful Clark #1 well and is targeting the Topeka and Lansing-Kansas City formations. Drilling operations should be completed in 7-10 days with an expected Total Depth of 4200 feet.

Austex Oil Limited (ASX:AOK) announced to the Australian Securities Exchange (ASX) on 24 March 2010 a non renounceable pro-rata entitlement offer of up to 33,885,000 new fully paid ordinary shares (New Shares) to raise up to A$5,421,600 (Entitlement Offer). The New Shares issued under the Entitlement Offer will be fully paid ordinary shares ranking equally in all respects with fully paid ordinary shares in the Company already on issue.

AusTex Oil Limited (ASX:AOK) (PINK:ATXDF) advises the following update on operations on leases in Oklahoma. Sweet Lease - Pawnee County; J&O #1 Well successfully deepened to 3230 feet, Logs indicate 53 feet of Net Pay over 2 zones, Oil and Gas displaced to Surface. Lancaster Lease Group - Tulsa County; Mayo Moore #7 - Oil and Gas Producer.

ABN Newswire stocks to watch today include: AuDAX Resources Limited (ASX:ADX) (PINK:ADXRF), AusTex Oil Limited (ASX:AOK) (PINK:ATXDF), Universal Resources Limited (ASX:URL), Coalspur Mines Limited (ASX:CPL) (PINK:CSPZF), Adelaide Energy Limited (ASX:ADE) (PINK:ADEZF), Burleson Energy Limited (ASX:BUR), Beach Energy Limited (ASX:BPT) (PINK:BEPTF) and Otto Energy Limited (ASX:OEL) (PINK:OTTEF).

AusTex Oil Limited (ASX:AOK) (PINK:ATXDF) is pleased to announce a fully underwritten Rights Issue to Shareholders to raise approximately A$5 million after costs (Offer).

ABN Newswire stocks to watch today include: Iron Road Limited (ASX:IRD), Meteoric Resources (ASX:MEI), Cougar Energy Limited (ASX:CXY), Magnetic Resources (ASX:MAU), ABM Resources NL (ASX:ABU), AusTex Oil Limited (ASX:AOK), and Victory West Moly Limited (ASX:VWM).

AusTex Oil Limited (ASX:AOK) advises the following update on operations in Kansas. Eisenhour #1 Well - McCracken Project; The operator, Castle Resources Inc., advises that drilling of the wildcat Eisenhour #1 well reached a Total Depth (TD) of 4100 feet overnight. Cooper Project - Sheridan County; Drilling operations are underway on the water disposal well located south of the successful Clark #1 Well.

ABN Newswire stocks to watch today include: Iron Road Limited (ASX:IRD), Galaxy Resources Limited (ASX:GXY) (PINK:GALXF), AusTex Oil Limited (ASX:AOK), Beach Energy Limited (ASX:BPT) (PINK:BEPTF), Kairiki Energy Limited (ASX:KIK) (PINK:KAIRF), Magnetic Resources NL (ASX:MAU) and Pluton Resources Limited (ASX:PLV).