AusTex Oil Limited (ASX:AOK) Drilling Commences On Pratt No.1 Well Of Cooper Project In Kansas
Sydney, Jan 25, 2011 AEST (ABN Newswire) - AusTex Oil Limited (
ASX:AOK) is pleased to announce that Castle Resources Inc. (CVE:CRI), as operator, advises that drilling operations on the Pratt #1 well commenced on Sunday 23 January (Kansas Time). Surface casing has been set to 216 feet and the rig is drilling ahead at 2,400 feet. Drilling operations are expected to continue until the end of this week.
Located to the north of the Clark #1 discovery well, the Pratt #1 is targeting the Toronto and Lansing-Kansas City formations with a projected TD of 4,400 feet. 3D seismic conducted on the 26,500 acre project identified a four way closure at this site.
AOK holds a 53% Working Interest and a 43.5% Net Revenue interest in this project located in Sheridan County, 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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