The Board of Austin Exploration Limited provides update on the Company's first oil well at the Armstrong Project, the Ellislie Plantation #1 well.

On March 10th, U.S. Central Time, production casing was successfully installed and disassembly and removal of the initial drilling rig, platform and support equipment began. The Ellislie Plantation #1 well is now awaiting arrival of a workover / completion rig, at which time the operator will begin the completion process. Plans are to perforate the Benbrook sand from a depth of between 6455.5-6460.5 feet. The workover / completion rig is anticipated to arrive on or about March 19th.

Due to the high oil saturation, porosity and permeability levels found in the core samples, and the operator’s extensive experience with these hydrocarbon sands, Aus-Tex and the operator have chosen to perforate the identified zones and move the well into production as quickly as possible.

Tags: Austin Exploration Limited