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MENAFN - ProactiveInvestors - Australia - 04/12/2012

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(MENAFN - ProactiveInvestors - Australia) AusTex Oil (ASX: AOK) has confirmed the presence of hydrocarbons indicating commercial quantities of oil at its Ross-1 development well at the Ellsworth Project in Rice County, Kansas.

Wireline logs, drill stem tests and samples have confirmed the presence of hydrocarbons in multiple breaks of the Arbuckle Formation.

Casing has been set and the well is to be completed for production testing over the coming weeks.

Ross-1 confirms that AusTex's strategy of ramping up exploration and development activity is successful and the company plans to announce its Kansas forward work plans soon.

AusTex's Oklahoma vertical drilling is also on track with two new vertical wells to be drilled this month, and six wells in various stages of pre-production.

AusTex has a 50% working interest in Ellsworth.

 






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