United States focused oil & gas produer AusTex Oil Limited report that it has made significant progress with its well development program at the company's 100% owned Snake River Project, Kay County, Northern Oklahoma.
The Snake River Project is targeting the liquids-rich Mississippi Lime Play which extends from Northern Oklahoma to Kansas.
There are now four vertical wells in production or testing stage with three wells drilled, cased and awaiting completion. AusTex expects that these new wells will significantly increase current production levels of 300 Barrels of Oil Equivalent per Day (BOEPD). Production rates for each well will be reported once stable production rates have been recorded.