Tuesday 28 July 2009

AusTex Oil reports Sealock #1 well in Kansas to spud this week

Oklahoma and Kansas oil and gas producer, AusTex Oil (ASX:AOK) is to spud Sealock #1 Well in Kansas this week - ahead of schedule.

The operator, Castle Resources Inc., has completed surface preparations and the drilling rig is due on site with drilling expected to commence on Friday, 31 July 2009 CDT.

AOK holds a 50% Working Interest and 43% Net Revenue Interest in the Cooper Project, of which Sealock #1 well is a part.

The well has a Total Depth of 4400 feet and is targeting the Lansing‐Kansas City and Cherokee formations. Drilling operations are expected to take between 7‐10 days.

The well site is located in Section 3, Township 9 South, Range 28 West, Sheridan County, four miles south of the town of Hoxie.

This well is the third well drilled this year on the Cooper Project and is to test the third of 42 prospects identified on the 26,500 acre project near Hoxie, Kansas. A successful well would be followed up with development wells at the allowable spacing.

Interestingly, Sheridan County is home to numerous small oil fields including the 2,880 acre Adell Field, which was discovered in 1944 and has produced 9 million barrels of oil to date from the Lansing Kansas City Formation.

Pay zones in the Lansing‐Kansas City Group are range from 5 feet to 20 feet thick each over a 300 foot interval. The Sealock location is located north west of the Solomon Fork oil field which has also produced over 1 million barrels of oil from the Lansing Kansas‐City formation.

www.proactiveinvestors.com.au

No comments:

Post a Comment