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AusTex Oil Ltd (ASX code AOK) was listed on the ASX on 8 January 2008 raising $20 million. AusTex is focused on reworking and development of oil and gas leases in the USA. The company produces oil and gas from leases in Oklahoma and Kansas. Since listing, AusTex has increased its lease interests from 1,000 acres to 32,000 acres. International Energy Corporation (IEC), a wholly owned subsidiary of AusTex, holds a 10 year exclusive marketing agreement for the State of Oklahoma for the patented Radial Jet Enhancement Technology. Oil and Gas leases in Kansas are held in partnership with Castle Resources Inc., the Kansas operator of the Radial Jet Enhancement Technology. |
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AusTex now a junior Oil & Gas company, with oil production -gas production expected near term. The Kansas Project offers the following opportunities:
- Focused on Mid- Continent USA
- ~32,000 acres of oil and gas leases in Kansas and Oklahoma
- Operating revenue of $562,000, for first full year of operations since listing
- First Gas sales in Oklahoma – April 2009
- 7.4 mmboe 2P reserves as at 31 March 2009
For more information on our Kansas Project please view our Kansas Projects page.
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