AusTex Oil Limited (ASX:AOK) Commences Trading on OTCQX International in New York
Sydney, Sep 13, 2011 AEST (ABN Newswire) - Australian listed oil and gas Exploration and Production Company, AusTex Oil Limited (
ASX:AOK) (OTCQX:ATXDY), is pleased to announce commencement of trading of its sponsored American Depositary Receipts (ADR) on OTCQX International.
OTCQX International is the premium tier of the US Over-the Counter (OTC) marketplace, giving non-US companies access to US investors without the duplicative regulatory costs required of listing on a traditional US exchange. The OTCQX is fully electronic and gives investors access through all major online and full-service brokerage firms in the United States.
BNY Mellon acts as the Company's depositary bank for the ADR facility. Any queries in relation to the ADR facility can be directed to BNY Mellon at www.adrbnymellon.com or by contacting AusTex Oil directly.
AusTex Oil has appointed C. K. Cooper & Company as Principal American Liaison (PAL). C. K. COOPER is a leading boutique investment bank with demonstrated success in assisting Oil and Gas companies grow their US investor base. The role of a PAL includes providing guidance on the OTCQX requirements. www.ckcooper.com
Daniel Lanskey, Managing Director of AusTex Oil, commented: "Recently we attracted our first US Investors to AusTex with the introduction of ICO Fund as our largest shareholder. The OTCQX opens access to the broader US Investor market and we have a well planned schedule of marketing activities underway in North America. Our current development drilling in the Mississippi Lime play in Oklahoma will provide us with good newsflow as we work with C. K. Cooper & Company to raise awareness of the company throughout the USA".
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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