AusTex Oil Limited (ASX:AOK) Apoint Mr Kwang Hou Hung As Non Executive And Deputy Chairman
Sydney, April 18, 2011 AEST (ABN Newswire) - AusTex Oil Limited (
ASX:AOK) is pleased to advise the appointment of Mr Kwang Hou Hung as a Non-Executive Director and Deputy Chairman of the Company effective from 18 April 2011.
Mr Hung qualified as a Chartered Accountant with KPMG, United Kingdom in 1982. He is a member of both the Institute of Chartered Accountants in England & Wales ("ICAEW") and the Malaysian Institute of Accountants.
He has extensive experience in line and corporate management, having served in various senior management and director positions in companies listed on the Bursa Malaysia (formerly called the Kuala Lumpur Stock Exchange). Mr Hung is also a past Chairman of Rocklands Richfield Limited (ASX:RCI), an ASX-listed company.
The Board extends a warm welcome to Mr Hung and believes that his valuable corporate experience will greatly assist the Company as it seeks to grow its profile in the Northern Hemisphere and further develop it US based oil and gas assets.
Mr Hung recently acquired 6.6% of the issued capital of the Company by way of a placement and an Appendix 3X Initial Directors Interest Notice is attached - see link: http://www.abnnewswire.net/media/en/docs/631684.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.
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