AusTex Oil Limited (ASX:AOK)
is pleased to advise that recompletions on existing wells on the East Tonkawa Unit, Kay County Oklahoma are underway. The company took possession of the leases on 1 October 2010 and is the operator, through its US subsidiary, International Energy Corporation. Apart from the purchase, AOK acquired a double drum workover rig, power swivel, rig-up truck, dozer, and other machinery to better maintain and service its existing and future wells.
Workovers of existing wells underway
The Kay County leases are equipped with tank batteries, oil and gas gathering systems connected to a gas sales line. To date, 2 wells have had existing production equipment removed and casing tested for mechanical integrity.