AusTex Oil expands Mississippi Lime gas condensate acreage in Kansas - Proactiveinvestors (AU)

Proactiveinvestors Australia

AusTex Oil www.austexoil.com/

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

Pdf

AusTex Oil expands Mississippi Lime gas condensate acreage in Kansas

Thursday, April 05, 2012 by Bevis Yeo

AusTex Oil expands Mississippi Lime gas condensate acreage in Kansas

AusTex Oil (ASX: AOK) has picked up an additional 8100 acres (32.8 square kilometres) of Mississippi Lime acreage in Kansas, bringing its total holding in the Colby project in Sheridan and Thomas counties up to 15,500 acres.

It also brings the company’s total Mississippi Lime acreage in Oklahoma and Kansas up to 22,500 acres.

Historical drilling in the area has confirmed the presence of the Lansing-Kansas City, Mississippi Lime and Arbuckle Lime formations.

The Mississippi Lime has become the premier horizontal resource play in north central Oklahoma and southern Kansas, attracting companies such as Chesapeake Energy (NYSE: CHK), SandRidge Energy (NYSE: SD) and Devon Energy (NYSE: DVN).

AusTex had recently participated in two successful vertical production wells and is now involved in the first horizontal well. Additional vertical wells are scheduled to be drilled over the coming weeks.

Sign up to Proactive Investors

Andrew McCrea's Research Reports
Sign up to Andrew McCrea's Research Reports and Receive Latest Research & Flash Trades
Receive Proactive Investors Newsletter, Investor Forum Invites
Receive Proactive Investors Newsletter, Event Invites, Special Stock Notifications

Comments from Proactive Investors readers

  • Fill in your details below:
Verification Code
Andrew McCrea is Sub Authorised Representative (SAR: 291331) of Proactive Investors Australia Pty Ltd
(ABN: 19 132 787 654) which is a Corporate Auhorised Representative (CAR: 413802) of RM Capital
Pty Ltd (AFSL: 221938).

Copyright © proactiveinvestors.com.au, 2012. All Rights Reserved