AusTex Oil Limited (ASX:AOK) Report On Clark #5 Well Success At Cooper Project, Sheridan County, Kansas
Sydney, June 23, 2010 AEST (ABN Newswire) - AusTex Oil Limited (
ASX:AOK), advises that drilling of the Clark #5 well successfully reached a Total Depth (TD) of 4,150 feet on Tuesday Kansas Time.
Oil shows were present in samples collected from the Toronto formation at 3,839 feet and two zones in the Lansing - Kansas City formation between 3,853 feet and 4,088 feet.
The well has been cased and logs will be completed once cement has set. The Clark #5 well is an offset well at 20 acre spacing to the northwest of the successful Clark #1 well.
Additional step out wells at minimum spacing are planned on the four - way closure identified at this location by 3D seismic.
AOK holds a 53% Working Interest and 46% Net Revenue Interest in the 26,500 acre Cooper Project located near Hoxie, Kansas.
About Australian Oil Company Limited
Australian Oil Company Limited (ASX:AOK) (OTCMKTS:SGCSF) is an Australian-based energy company focused on under-explored, recently over-looked, world class oil and gas opportunities near under-supplied markets. The Company is currently focussed on conventional oil and gas exploration and production in the Sacramento Basin in California. Australian Oil has a portfolio of natural gas and oil producing wells in addition to prospects and discoveries at various exploration and appraisal stages. AOK is in the process of evaluating the acquisition of oil and gas producing and exploration assets to enhance the Company's strategic needs and deliver shareholder value.
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