ASX ANNOUNCEMENT 4TH March 2011 For Immediate Release The Manager Companies Announcements Officer Australian Stock Exchange Electronic Lodgement UPDATE - BOMBING RANGE AND COMMENCEMENT WELLS ?h BOMBING RANGE TARGET DEPTH REACHED ?h APPARENT PRESENCE OF HYDROCARBONS EVIDENT ?h 60-DAY ENGINEERING AND GEOTECHNICAL REVIEW OF E-LOGS UNDERWAY Dear Sir/Madam, The Board of Austin Exploration Limited (ASX: "AKK") - on behalf its wholly owned US subsidiary Aus-Tex Exploration Inc ?V is pleased to provide the following update on its Bombing Range and Commencement Well Prospects, located in Vernon Parish Louisiana, USA:- BOMBING RANGE PROSPECT ?h Presence of 11 feet of potential sand pay zone evident from e-log analysis ?h The structural fault zone is being re-mapped to better predict the next move which may be to drill horizontally ?h Due to the window of time available to work on this well (Controlled by the US Government - Military) the window of next opportunity to work on this well will be during the US Summer of 2011. By this time the engineering assessment will be completed and the company will implement the action plan and keep the market updated. ?h A 60-day engineering and geotechnical review of the results will be undertaken by Aus Tex??s Engineering team ?h Drilling costs within budgeted estimates. Current expenditure to Aus-Tex??s 34% Working Interest totals USD$ 203,625.00
AKK Price at posting:
3.6¢ Sentiment: Buy Disclosure: Held
