Austin Exploration says that drilling on the Board Of Education lease in Mississippi has intersected crude oil.
Electronic logs and side wall core analysis have been run on the Artman & Pearline Oil Sands which indicates two zones totaling 28 feet of pay and oil saturated sands.
An injection well has also been drilled to economically dispose of salt water produced by the well.
Mr. Tim Hart, VP/GM for Austin’s Eastern Business unit, which comprises of Kentucky & Mississippi, was on location for the drilling operations and commented that “Drilling was completed in a safe and efficient manner and we’re looking forward to bringing this lease into production and the boost to our cash flows it will provide.”
Completion operations will now commence and flow rates will be communicated when established.