AusTex Updates Ops at Oklahoma Proj.



AusTex Oil Limited updated shareholders on its well development program at its 5,5000 acre Snack River Project in Northern Oklahoma.

Highlights

  • East Tonkawa Unit: Both ETU #17-6 and ETU #14-7 are now completed and are on pump
    • Production testing for both wells is underway
  • Blubaugh Lease: Six new production wells now in various stages of development
    • Two new wells have reached TD
    • Four wells awaiting completion

"We are particularly encouraged by the progress we have made at East Tonkawa. In a very short period of time we have managed to bring two wells into production and this will add to our growing daily production which currently exceeds 300 BOE per day," said Executive Chairman Richard Adrey.

"Activity on the north side of the River is now well ahead of schedule with four production wells in various stages of development. This positions us to deliver increased production levels in the coming months," added Richard Adrey.