AusTex Oil Planned Well Drilling At Cooper Project Kansas

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AusTex Oil Limited (ASX: AOK.AX) is an Australia-based company. The Company is engaged in the development of oil and gas leases in the United States. It produces oil and gas from leases in Oklahoma and Kansas. It is also engaged in the exploration, development and production of hydrocarbons in the United States. Its wholly owned subsidiaries include International Energy Corporation (Oklahoma), International Energy Corporation (Kansas) and Well Enhancement Services LLC. During the year fiscal year ended March 31, 2009 (fiscal 2009), the Company was engaged in the drilling of three wells on the Lancaster Lease group, Tulsa County; two wells on the Sweet Unit, Pawnee County, and one well on the BlueHawk Project in Osage County.Tuesday June 29 11:26 AM

AusTex Oil Limited (ASX: AOK.AX), advises the following update on our Cooper Project, Kansas. The operator, Castle Resources Inc., reports that cased-hole logs have been completed on the Clark #5 Well. These logs have confirmed the shows of hydrocarbons in the Toronto as well as the A, B, C, H and J zones in the Lansing-Kansas City formations during sample analysis. Porosity readings of 23% to 30% were recorded in the Lansing-Kansas City which is considered exceptional for these limestones by our technical team.

The completion for production testing will begin this week with reportable results within the next three to four weeks.

An intent to drill has been approved for the well located to the south-east of the well. Drilling operations are planned to commence on or about July 19th.

Managing Director, Dan Lanskey commented, “We are very excited about the results. This has confirmed an extension to the wildcat discovery. This project covers some 40 square miles and the 3D seismic has identified over 20 four-way closures on the acreage. The Well is located on the 20 acre spacing to the northwest of the Well with the to be drilled to the southeast of the discovery well”.

AOK holds a 53% Working Interest and 46% Net Revenue Interest in this project.

Contact:
Daniel Lanskey
Managing Director
Tel: +61-2-9238-2363
Fax: +61-2-8088-7280
www.austexoil.com

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