United States focused oil & gas producer and explorer AusTex Oil Limited has received confirmation from Range Resources Inc that the Balder #1-30N horizontal well has commenced production with highly encouraging flow rates recorded in the first six days.

AOK holds a 14.15% working interest and an 11.15% net revenue interest in the well which is located on the western edge of AOK's East Tonkawa Unit, which is part of the Snake River Project in Northern Oklahoma. A 40 acre portion of Range's 320 acre well location is on AOK's project area. This is the first horizontal well in which the company has participated, and these initial production rates highlight the potential value and prospectivity of AOK's Snake River Project in the Mississippian Limestone Play.

Tags: AusTex Oil Limited