AusTex Oil Limited is an Australian Public Company listed on the Australian Securities Exchange (ASX). Through the wholly owned US subsidiary International Energy Corporation (IEC), the company has acquired a group of leases in Oklahoma with current production and existing wells to be recompleted and enhanced. The leases which cover 1000 acres contain proven recoverable reserves of 6.1 million barrels of oil.

In September 2006, IEC entered into an exclusive marketing agreement with Houston based Well Enhancement Services LLC for the patented Radial Jet Enhancement Technology for the State of Oklahoma. The technology allows operators to enter existing vertical oil wells and jet lateral channels into known oil producing zones. Previous applications of the technology have resulted in an increase of oil production up to 10 times.

AusTex Oil raised $20million under a Prospectus issued in October 2007 and was admitted to the ASX on 8 January 2008. Currently the Company is implementing the next stage of reworks on existing wells in Oklahoma. An infill drilling program is being scheduled to commence in Quarter 1 2008.

Further acquisitions of oil and gas leases in Oklahoma are planned.