AusTex Oil Limited (ASX:AOK) Drilling Results: Baggett #33-3 Success, Clark #3 Plugged
Sydney, May 5, 2010 AEST (ABN Newswire) - AusTex Oil Limited (
ASX:AOK) advises the following drilling results on wells in Oklahoma and Kansas.
Baggett #33-3 - Lancaster Lease Group
Tulsa County - Oklahoma
Drilling on the Baggett #33-3 reached a Total Depth (TD) of 2,490 feet on 29 April 2010 (Oklahoma Time). Well logs indicate the presence of hydrocarbons in the Prue, Upper Skinner, Red Fork, Tanneha and Wilcox formations. Casing has been set and the well is being completed for production.
AOK holds a 100% Working Interest and 81.25% Net Revenue Interest.
Plans are underway to drill the Ownby #2 well to the west of the recently successful Baggett #33-1 and Baggett #33-2. Drilling is scheduled to commence within 3 weeks.
--------------------------------------------------------------Name of Well Baggett #33-3--------------------------------------------------------------Lease Name Lancaster Lease Group, Tulsa County Oklahoma--------------------------------------------------------------Location Section 33, Township 19 South, Range 11E--------------------------------------------------------------Previous Report 28 April 2010--------------------------------------------------------------Operator International Energy Corp. (Oklahoma)--------------------------------------------------------------Progress Report Spud Date 22 April 2010at 10am Tuesday Total Depth 2,490 feet4 May 2010 (CDT) Prue Sand 1146-1152 feet Upper Skinner 1230-1255 feet Red Fork 1472-1488 feet Tanneha 1798-1818 feet Wilcox 2160-2192 feet The well is being completed for production.---------------------------------------------------------------
Clark #3 Well - Cooper Project - Sheridan County - Kansas
Drilling on the Clark #3 well reached TD of 4,146 feet on 30 April 2010 (Kansas Time). Oil shows were present in samples from the Howard, Toronto and Lansing-Kansas City formations. None of these produced on drill stem tests.
The well has been plugged. This well tested the northwest limits of the seismically defined closure. Logs indicate that the reservoir quality is variable with thinning of the target intervals at this location. This variability is commonplace in northwest Kansas. The extent of the excellent quality reservoirs encountered in the Clark #1 will be determined by further development drilling. Drilling of the Clark #4 development well, northeast of the Clark #1 well, is scheduled for the first half of June 2010.
----------------------------------------------------------Name of Well Clark #3----------------------------------------------------------Lease Name Cooper Project, Sheridan County----------------------------------------------------------Location Section 32, Township 8 South, Range 28W----------------------------------------------------------Previous Report 22 April 2010----------------------------------------------------------Operator Castle Resources Inc. (CVE:CRI)(Kansas)----------------------------------------------------------Progress Report Spud Date 22 April 2010 at 10am Tuesday Total Depth 4,146 feet4 May 2010 (CDT) ----------------------------------------------------------
AOK holds a 53% Working Interest and 45% Net Revenue Interest in this project.
About AusTex Oil Limited
CVE:CRI)(Kansas)----------------------------------------------------------Progress Report Spud Date 22 April 2010 at 10am Tuesday Total Depth 4,146 feet4 May 2010 (CDT) ----------------------------------------------------------
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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