(MENAFN - ProactiveInvestors - Australia) Austin Exploration (ASX:AKK) has hit oil and gas flows of between 350-400 barrels of oil equivalent per day (boepd) at its Pathfinder C11-12-1 well at its block in Colorado.
The test results were obtained at high pressure, while on temporary high pressure testing equipment for three days.
The well has been temporarily shut in while modifications to production facilities are made to enable a longer term production.
A number of modifications are being assessed, which could include assessing the feasibility of connecting the field to a gas lateral line situated within five miles of the field, as well as other modifications necessary to account for the high pressure which will necessitate a minor work-over.
The Pathfinder C11-12 -1 horizontal well is the Company's first horizontal well drilled into the prolific Niobrara formation.
Austin controls more than 11,000 acres in Colorado in the Niobrara Shale and over 5,000 acres in Texas in the Eagle Ford Shale and the Austin Chalk.
Austin has producing oil and gas wells in Texas, Mississippi and Kentucky and a highly prospective Oil and Gas Licence, PEL 105, in the Cooper Basin of South Australia.