AusTex Oil
AusTex Oil (ASX: AOK) is focused on reworking and development of oil and gas leases in the U.S.
Austex Oil reaches 2,633 feet depth, confirms hydrocarbons at Lancaster #9 Well
Monday, November 22, 2010
Drilling by US focused junior oil and gas producer AusTex Oil (ASX:AOK) successfully reached a total depth at 2,633 feet at the Lancaster No.9 Well within the the Lancaster Lease Group in Tulsa County, Oklahoma, on Friday 19 November.
The Lancaster #9 is a step out development well located to the east of the successful Lancaster #8 well, and is targeting the Simpson Series formations and with an expected total depth of 2,550 feet.
During drilling operations free oil and gas was displaced to the surface.
Well logs and samples collected confirm hydrocarbons have been intersected in multiple zones including three of the Simpson Series sandstones and the Arbuckle formation.
The well has logged structurally higher than the Lancaster #8 well and has confirmed over 100 feet of oil and gas payzones in the Simpson Series formation in both wells.
Reviews of the well log data and surface geology show the formations follow the surface structural high at the location with additional well sites available at 10 acre spacing in this part of the lease.
The well has been cased and will be completed for production testing in the Simpson Series formations.
Production testing on the Lancaster #8 is ongoing and the well is currently producing oil, gas and associated water and was this week refitted with a larger engine to enable a greater quantity of fluid to be recovered.
AOK holds a 100% working interest and 80% net revenue interest in this section of the project.
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