I thought you guys may appreciate a summary of this play....

I thought you guys may appreciate a summary of this play.

"Background to Northern Oklahoma Oil Play

Since early 2010, a number of NYSE listed exploration and production companies began refocusing their North American operations on liquids rich projects. One of the fastest moving regional development plays is located in Northern Oklahoma. End of year reports and company presentations released by competitors in January 2011, show demonstrated success in drilling and completing horizontal wells in the Mississippi Lime with initial production rates of between 300 and 1,300 barrels of oil equivalent per day (BOE/PD) per well. Estimated Ultimate Recovery (EUR) is reported at 300,000 BOE per well. Completion costs per well including allocation for water disposal are reported at $2.1 million per well with an Internal Rate of Return of 80%. Whilst the focus has been on horizontal completions in the Mississippi Lime formation with a total vertical depth of 6,000 feet, recent drilling activity has also included vertical and horizontal wells in the shallower Pennsylvanian Formations. Target zones include the Layton, Tonkawa and Cleveland formations at less than 3,500 feet total vertical depth. EUR on a vertical well is between 30,000 to 40,000 barrels of oil from each formation at a cost of $450,000 with a 10 acre spacing per well."

Source: ASX:AOK press release 2/3/2011