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Market:	ASX
Sector:	Oil and Gas Exploration and Production
EPIC:	AOK
Latest Price:	0.11 (0.00%)
52-week High:	0.16
52-week Low:	0.07
Market Cap:	34.35M

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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.

AusTex Oil strikes oil for third time in Oklahoma

Monday, September 28, 2009 by Proactive Investors

AusTex Oil (ASX: AOK) has struck oil for the third well in a row in Tulsa County, Oklahoma.

Drilling at the Lancaster #5 Well in Tulsa reached targeted depth of 2,340 feet on Saturday. Open-hole logs indicate recoverable hydrocarbons in the Redfork and Tanaha formations.

Casing has been set and the well will be completed for production testing in the coming weeks.

AOK holds a 100% working interest and an 81.25% net revenue Interest in this project.

The Lancaster #5 Well is a step out to the already producing Lancaster #3 and Lancaster #1A wells on the west side of the Lancaster Lease Group.

Dan Lanskey managing director said after returning from Tulsa, "the drilling program underway in Oklahoma is the first we have undertaken as operator with supervision by our in house engineers. Field operations are running ahead of schedule, despite the widespread thunderstorms and flooding which have occurred in the Mid West over the last two weeks."

"The weather has affected our operations in Kansas with delays on the completion of the Sealock #1 Well. However, we expect to start production testing on the new wells in Oklahoma over this coming week.”

Lansky said drilling has commenced on the Mayo Moore #3 Well, which is located 40 acres to the west of the Mayo-Moore #1 Well.

Investors may recall that Mayo Moore #1 and #2 wells, drilled earlier this month, encountered oil and gas. Targeted depth for Mayo-Moore #3 well is expected at around 2,500 feet and drilling operations are expected to take 3 to 5 days on the well.

Planning is also underway to drill Mayo Moore #4 well. Drilling of Lancaster #4 Well has been rescheduled for the December Quarter.

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