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Additional Information
Market:ASX
Sector:Oil and Gas Exploration and Production
EPIC:AOK
Latest Price: 0.11  (-4.55% Descending)
52-week High:0.16
52-week Low:0.07
Market Cap:32.79M
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AusTex Oil

AusTex Oil (ASX: AOK) is focused on reworking and development of oil and gas leases in the U.S.

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Austex Oil's Lancaster #9 well is being completed for production

Tuesday, December 07, 2010
Austex Oil's Lancaster #9 well is being completed for production

Production testing on the Austex Oil (ASX: AOK) Lancaster #8 well has stabilised at 20 barrels of oil per day and associated gas from a 3 foot interval of the Arbuckle Formation at 2,550 feet, with the completed well to pay out in seven months.

The company's Lancaster #9 well is being completed for production in the Simpson Series Formations, with logs indicating the well intersected 150 feet of the hydrocarbon bearing zone between 2,400 feet and 2,550 feet.

Next week the well will be stimulated with hydraulic fracturing and production testing.

Austex holds a 100% working interest and 81.25% net revenue interest in the project, which is located within the Lancaster Lease Group in Tulsa County, Oklahoma, USA.

 

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