• Aus Tex Oil Limited
• Website: www.austexoil.com

Industry:

Oil, Gas & Consumable Fuels

Fiscal Year-End:

Mar 10

Aux Tex Oil Limited (AOK) focuses on oil exploration and production based on existing oil leases in the United States. The company is focused on recovering oil from under-exploited fields. AOK currently owns six leases in north-east Oklahoma near Tulsa.

AOK listed in January 2008 after successfully raising A$20M in November 2007. AOK's initial work centred on the Lancaster Lease including seismic surveys and the drilling of two wells. The company was required to spend a significant amount of initial capital to meet infrastructure, environmental and operational requirements prior to production and a substantial amount of its cash reserves went into development expenses as opposed to exploration drilling and production.

AOK operates in the oil and gas exploration and production industry. The company's tenements are located within the USA in Oklahoma and Kansas. AOK also owns the rights to operate a well completion technology called Well Enhancement Services.

AOK is located in an area of the USA that has a long history of oil production and exploration. Its Oklahoman acreage provides a foundation of relatively low risk/low reward production and Kansas provides investors with wildcat opportunities to significantly improve the company's production profile.

AOK customers are oil traders located locally around its operating areas. These oil traders purchase and transport oil to local refineries located around Tulsa. Gas produced is transported to sales points and sold to local gas traders. AOK's main competitors are numerous public and private oil and gas producers located in the USA.