AusTex Oil Limited (ASX:AOK) Drilling Commences On Pratt No.1 Well Of Cooper Project In Kansas
Sydney, Jan 25, 2011 AEST (ABN Newswire) - AusTex Oil Limited (
ASX:AOK) is pleased to announce that Castle Resources Inc. (CVE:CRI), as operator, advises that drilling operations on the Pratt #1 well commenced on Sunday 23 January (Kansas Time). Surface casing has been set to 216 feet and the rig is drilling ahead at 2,400 feet. Drilling operations are expected to continue until the end of this week.
Located to the north of the Clark #1 discovery well, the Pratt #1 is targeting the Toronto and Lansing-Kansas City formations with a projected TD of 4,400 feet. 3D seismic conducted on the 26,500 acre project identified a four way closure at this site.
AOK holds a 53% Working Interest and a 43.5% Net Revenue interest in this project located in Sheridan County, Kansas.
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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