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 Australian Oil Company Limited
Australian Oil Company Limited (ASX:AOK) (OTCMKTS:SGCSF) is an Australian-based energy company focused on under-explored, recently over-looked, world class oil and gas opportunities near under-supplied markets. The Company is currently focussed on conventional oil and gas exploration and production in the Sacramento Basin in California. Australian Oil has a portfolio of natural gas and oil producing wells in addition to prospects and discoveries at various exploration and appraisal stages. AOK is in the process of evaluating the acquisition of oil and gas producing and exploration assets to enhance the Company's strategic needs and deliver shareholder value.
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