Quarterly Activities and Cashflow Report
Sydney, Feb 1, 2012 AEST (ABN Newswire) - AusTex Oil Limited (
ASX:AOK) (OTCQX:ATXDY) is pleased to provide a quarterly activities and cashflow report for the period ended 31 December 2011.
Highlights
Production success in Mississippi Lime - Northern Oklahoma
-- 2 Wells now in Production - additional wells planned
-- Unaudited Reserves Estimated at 9.4 million BOE
- Additional 8,100 acres leased in Kansas Mississippi Lime area
- Production average increases to 215 boe/d - January 2012
- Gross Revenue for Quarter of $US642,750
AusTex Oil Limited (AusTex or the Company) (ASX:AOK) (OTCQX:ATXDY) is an oil and gas exploration and production company with operations in Kansas and Oklahoma, in the mid-continent of the United States of America.
The Company operates leases in Oklahoma through its wholly owned subsidiary, International Energy Corporation (Oklahoma) (IEC-OK), with offices located at 1801 East 71st Street, Tulsa. In Kansas, AusTex is the major working interest partner with Castle Resources Inc., as operator.
AusTex now holds interests in over >65,000 acres of oil and gas leases and is focusing on development in the Mississippi Lime play in both States.
Company Overview
ASX Code: AOKQX International Code: (50:1 ADR) ATXDYClosing price 30/12/2011: $0.10Market Capitalisation $28mCash/Investments on hand: $1.1mShares outstanding: 280,480,451Share price range (12 months): $0.065-$0.14
To view the complete AusTex Oil Quarterly Report, please refer to the following link below:
http://media.abnnewswire.net/media/en/docs/ASX-AOK-665326.pdf
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.
| ||
|
