Site has been staked Construction of well site and pad is complete Shamrock Drilling Inc of Natchez Mississippi is due to move the Spencer Harris #7000 Rig on site March 15 Spud date set for March 17
The Commencement Prospect (Adams County, Mississippi USA)
? Aus-Tex holds a 50% WI for a 37.5% NRI ? Drilling Operations are expected to commence in February 2011 ? The operator on the project is the same Mississippi-based operator that Aus-Tex joint ventured with on the successful Armstrong oil project. This well represents the 17th well to be drilled by the operator which has the enviable record of 15 of its 16 previous wells drilled resulting in commercial discoveries of crude oil. ? The well will be re-drilled to a depth of 6,650? feet and produce the Baker and Ratcliff Sands formations that were previously produced in the Serio-Calto No. 1 Armstrong formation. ? Estimated recoverable reserves from this well are calculated to be between a minimum of 55,000 to 78,000 barrels of oil
AKK Price at posting:
3.0¢ Sentiment: Buy Disclosure: Held
