AusTex Oil Limited provide the following update on drilling operations in Noble County, Oklahoma.

Adams #1 Well

Section 4, Township 24 North, Range 1 East

Noble County, Oklahoma

Drilling on the Adams #1 well successfully reached a TD of 4,700 feet on Friday 2 March 2012 US Central Time and casing has been set through the Woodford Shale. Drilling samples and logs confirmed that the well encountered a 310 foot gross section of the target Mississippi Lime interval with oil shows. Wireline logs indicated four separate intervals within the Mississippi Lime and Chat with porosity ranging greater than 8%.

The well is to be completed for oil production testing. AOK holds a 10% Working Interest and a 8% Net Revenue Interest in this well which is approximately 2 miles southeast of existing oil produciton on the Snake River Project owned and operated by AOK. An accellerated drilling program is scheduled to continue this month on the Snake River Project.

Tags: AusTex Oil Limited