I also just remembered on the oppistie side of the chalk (2states over) In Missisipi (snake river) AOK (austex) and RRC (Range) have hit a well which had inital flows of 1100BOED ... and has now declined to an average of 899BOED (30days).
Think AKK oil decline quicker then this due to where these guys drilled (Missisipi lime) but this shows the potential of the Austin Chalk as well.
http://www.pantheonresources.com/operations/tyler_county.htm here is a map for all :)
AKK Price at posting:
3.0¢ Sentiment: ST Buy Disclosure: Held