Mississippi Lime Development Drilling Continues
Sydney, Oct 10, 2012 AEST (ABN Newswire) - United States focused oil & gas produer AusTex Oil Limited (
ASX:AOK) (OTCQX:ATXDY) is pleased to update shareholders on its continued well development program at the company's 100% owned 5,500 acre Snake River Project in Kay County, Oklahoma.
AusTex is drilling the first of two vertical wells scheduled during October in the southwestern area of the Snake River Project. Two production hubs have now been established and the Company continues to grow its oil and gas production on the project as new wells are brought online.
ETU #1-6 and #1-7 Wells
Drilling of the ETU #1-6 commenced over the weekend, and surface pipe has been set to 287 feet. As of this morning the rig was drilling ahead at 3,200 feet, and has an expected TD of 4,750 feet, targeting the Mississippi Lime and Woodford Shale intervals.
The #1-6 well is the 10th production well drilled at the Snake River Project. The #1-6 and #1-7 are located on the northside of the river and to the west of Production Hub No. 2.
Further information on well completions and results will be advised over the coming weeks.
View the complete AusTex Oil announcement including Figure 1 at the link below:
http://media.abnnewswire.net/media/en/docs/ASX-AOK-699348.pdf
Follow AusTex on Twitter: http://www.twitter.com/AusTexAOK
About AusTex Oil Limited
AusTex Oil Limited (ASX:AOK) (OTCQX:ATXDY) is a Public Company listed on the Australian Securities Exchange (ASX) and the OTCQX.
AusTex is focused on exploration and development of oil and gas leases in the USA. The company produces oil and gas in Oklahoma and Kansas and is currently developing producing leases in both states with interests in 11,600 net acres of oil and gas leases in the Mississippi Lime Play. The Company has net production of circa 800 boe/day with Independent 1P reserves certified at 3.505 Million BOE with NPV10 of US34.8 million as at 31 December 2015.
US operations are based in Tulsa, Oklahoma, with an office at 1801 East 71st Street. International Energy Corporation (Oklahoma) is a wholly owned subsidiary and a licensed oil and gas operator in Oklahoma and Kansas.
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