AusTex Oil
AusTex Oil Limited is an ASX listed company focused on reworking and development of oil and gas leases in the USA. The Company produces oil from leases in Oklahoma and Kansas and has an active drilling program running in both states.
Since listing in March 2008, AOK has participated in drilling eleven new wells, of which nine are being completed as producers, and has increased its oil and gas lease interests from 1000 acres to ~32,000 acres. A schedule of Oil and Gas interests can be found on the Oil and Gas Projects page.
Technology Advantage- Radial Jet Enhancement
International Energy Corporation (Oklahoma), a wholly owned subsidiary of AOK, holds a 10 year exclusive marketing agreement for the State of Oklahoma for the patented Radial Jet Enhancement Technology. IEC (OK) operates a mobile truck mounted rig, based in Tulsa. The technology allows operators to enter existing vertical oil wells and jet lateral channels into known oil producing zones. Previous applications of the technology have resulted in an increase of oil production up to 10 times.
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