Pathfinder #1 and Birch #3 wellsPathfinder #1 in Colorado and...

Pathfinder #1 and Birch #3 wells
Pathfinder #1 in Colorado and Birch #3 in Texas
Further to the announcement released to the ASX on November 28, 2012 Austin Exploration advises
that clean-up operations at both wells are continuing to flow back a mix of frac fluids and crude
oil. The Company wishes to be clear that the oil flow numbers quoted were from the early stage in
the flow-back of the drilling and fraccing fluids. Both wells are performing in a typical fashion for
unconventional oil reservoirs and the Company is pleased that the oil to water cut is increasing on a
daily trend. As such, these figures provide no indication of the final oil flows that should be expected
from the wells. The clean-up process normally takes about 100 days and the Company expects to be
in a position to announce initial production rates in the first quarter of 2013.
Media Contact – Australia
Martin Debelle
Citadel
+61 2 9290 3033
+61 409 911 189
[email protected]