AusTex Oil's (ASX: AOK) Mayo Moore #4 well has intersected free oil and gas during drilling at the Lancaster Lease Group, Tulsa County, project in Oklahoma.
During drilling operations, target depth of 2,507 feet was reached. During drilling, oil and gas was displaced into the pits from three formations with further horizons dentified during logging.
The well has been cased and production testing is scheduled to commence this week.
AOK holds a 100% working interest and an 81.25% net revenue interest in this project.
The Mayo Moore #3 well has been completed for oil and gas production in the Red Fork and Misner Formations. Production from the well commenced on Friday November 13, with oil flow lines connected to the tank battery and gas flowing into the sales line.
Following on from the Mayo Moore #4, drilling operations have commenced on the Baggett #33-1 well, which is a step out well to the southeast of the Mayo Moore #1.
Baggett has intersected free oil and gas – drilling ahead to 2550 feet.
Surface pipe was set at 330 feet and oil and/or gas has been displaced into the pits from the Cleveland and Redfork formations. Drilling operations are set to continue on Monday CST with expected TD 2550 feet by Monday night.
Investors may recall that AusTex Oil, as operator has completed the drilling of the Mayo Moore #1, #2, #3 and #4 wells and the Lancaster #5.
Oil and gas production commenced during the 2nd week of October.
Currently the Lancaster #1A and 3, Mayo Moore #1, #2, and #3 are in oil production and gas is free flowing into the sales line which was completed last year.