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Posts on this website are general "tips" and nothing more than that and should never be used to make an investment or trading decision. All information should be carefully cross-checked against official sources for accuracy. Sparty's posts nearly always relate to companies that he either holds, has held or intends to hold.

AOKAustex Oil to double output

  • Nice to see Austex OIL (AOK) doing so well with its drilling.

    Today's Petroleumnews.net has a little snippett on them today:

    "AusTex’s Clark-1 well in the Cooper project in Sheridan County, Kansas, is currently producing 250 barrels of oil per day with no water from the Toronto Formation.

    This is expected to increase once a permit for the use of the old Walker-2 well for water disposal is received, allowing the company to flow oil from the Lansin-Kansas City Formation, which had tested at 230bpd of oil and 70bpd water.

    AusTex has a 53% working interest in the Cooper project."

    For those that don't know about AOK it could be a good time to check this little Aussie producer out. Not only have they increased their acreage by a couple of hundred percent they have tied up some crucial technology for the whole of Oklahoma that allows for the rejuvenation of wells that were abandoned when oil was around $10 per barrel. They control the IP and patents and are also now cash flow positive. (I'm up 100% on my origional stake and can see plenty more upside to come.)

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