AusTex updated on its Cooper Project in Kansas.
Clark #5 Well - Confirms extension of Wildcat Discovery
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.
Clark #7 Well
An intent to drill has been approved for the Clark #7 well located to the south-east of the Clark #1 well. Drilling operations are planned to commence on or about July 19th.
Managing Director, Dan Lanskey commented, "We are very excited about the Clark #5 results. This has confirmed an extension to the Clark #1 wildcat discovery. This project covers some 40 square miles and the 3D seismic has identified over 20 four-way closures on the acreage. The Clark #5 Well is located on the 20 acre spacing to the northwest of the Clark #1 Well with the Clark #7 to be drilled to the southeast of the discovery well."
AOK holds a 53% Working Interest and 46% Net Revenue Interest in this project.
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