AusTex Oil EGM Presentation
Sydney, Nov 26, 2012 AEST (ABN Newswire) - AusTex Oil Limited (
ASX:AOK) (OTCQX:ATXDY) are pleased to provide a Company Investor Presentation titled 'Targeting - Light Oil Sweet Spot of the Mississippi Lime Play'.
Investment Highlights
- Mississippi Lime has emerged as one of the top light oil plays in North America
- AusTex provides strong leverage to the play with 23,000 net acres in Oklahoma and Kansas
- Targeting the light oil sweet spot with its Snake River Project (5,500 acres adjacent to the Nemaha Ridge)
- Participation with Range Resources provides verification for the play with strong results from first horizontal well and at least a further four horizontal wells to come
- First well Balder #1 (AOK 14%) achieved a 30 day average of 899 boepd (70% oil) & peak rate 1,363 boepd
- Second well - Hod #1-19 drilled successfully reach TD during November 2012 - Testing Underway
- Production rate of ~500 boepd targeting 750-800 boepd by end of CY 2012 benefiting from ongoing vertical and horizontal programs
- Potential to grow acreage position given AusTex's established landowner relationships
- Strong technical team and Board with extensive success and experience
- Funded for ongoing appraisal and development of the Company's acreage in the Mississippi Lime Play
View the complete presentation at the link below:
http://media.abnnewswire.net/media/en/docs/ASX-AOK-708507.pdf
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.
| ||
|
