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AusTex Oil Ltd is a Public Company listed on the Australian Securities Exchange (ASX:AOK) and the OTCQX (ATXDY).
AOK.AU www.asx.com.au ATXDY: USA www.otcqx.com/ AusTex is focused on exploration and development of oil and gas leases in the USA. The company produces oil and gas in Oklahoma and Kansas and is currenlty developing producing leases in both states with interests in 10,500 net acres of oil and gas leases in the Mississippi Lime Play. The Company has net production of circa 680 boe/day with Independent 1P reserves certified at 6.689 Million BOE with NPV10 of US32.240 million as at 31 December 2016.
US operations are based in Tulsa, Oklahoma, with an office at 1801 East 71st Street. International Energy Corporation (Oklahoma) is a wholly owned subsidiary and a licensed oil and gas operator in Oklahoma and Kansas.
AusTex holds approximately 9,900 acres (100% WI 81/% NRI) of the Snake River Project in Kay County, Oklahoma in the Mississippi Lime adjacent to leases operated by Range Resources Corporation (NYSE RRC). The company continues to lease acreage in Oklahoma and plans to increase oil production in the short term through its drilling activities. Development drilling is underway on the project with additional wells being drilled with AusTex as the Operator. AusTex remains focused on this project to drive production growth. At 30 acre spacing on vertical wells there are over 200 locations to be drilled on this project.