AUSTEX OIL LIMITED DRILLING COMMENCES ON PRATT NO.1 WELL OF COOPER PROJECT IN KANSAS

AusTex Oil Limited is pleased to announce that Castle Resources Inc., as operator, advises that drilling operations on the Pratt #1 well commenced on Sunday 23 January (Kansas Time). Surface casing has been set to 216 feet and the rig is drilling ahead at 2,400 feet. Drilling operations are expected to continue until the end of this week.

Located to the north of the Clark #1 discovery well, the Pratt #1 is targeting the Toronto and Lansing-Kansas City formations with a projected TD of 4,400 feet. 3D seismic conducted on the 26,500 acre project identified a four way closure at this site.

AOK holds a 53% Working Interest and a 43.5% Net Revenue interest in this project located in Sheridan County, Kansas.

Sourc: Press release