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AOK - Austex Oil

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condog

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Hi all

Who else is holding or closely watching developments with AOK....

With wells 1 & 2 producing my best estimates are they are now cash flow positivive at 80+ BOPD....... & with $5 M in the bank and drilling at $150K per well they present an amazing upside potential.....

They have dramatically increased their lease holds and are on track to becoming a fully fledged small to mid cap oil producer....

I already own Caranarvon and have enjoyed the profits of its spoils and right now I think AOK is set to be the next Carnarvon.

Whats your thoughts...


Disc - I do own the stock and certainly intend buying a hell of a lot more very soon.
 
Released more great news yesterday with 100 BOPD flowing from Mayo #4

Annalysts say AOK's break even point was approx 80 BOPD and 300 MCF of Gas pd. So just off this one well it would now appear AOK is has become an income producing proffitable Oil producer...

Check the facts yourself , but they also have oil prod of 200+ BOPD so far from other wells and Gas production of somewhere around 1000 MCF pd .....

On current share price investors are valueing 2P oil at approx $1.40 per barrell.... This would appear to be extremely conservative.....given most similarly immature producers are valued at $3-7+ per 2P BO.....

I cannot believe its been so over looked with so much upside potential and so much relative safety.....but on the flip side its great for me as I am acquiring significantly more and trading my cost base on its short term swings...

Disc - I presently own variable quantities of AOK....
 
10% rise today thanks very much....cant believe you lot are ignoring this..

This thing has legs and oil to back it....

PS this aint ramping....Im just gob smacked that none of you have done the analysis or bothered to look at it.....
 
Re tested highest point ever at 19c yesterday, up 46% for the week then retraced to 17c ..... Im up 38% for the week..... love it...Im not trading out though, as I truly believe this one is set to rocket ....Its completely under-discovered by the market and is now on my calcs a net oil producer, despite being priced as a speculative explorer...
 
Up 40% for the week...... I should have put more in it and put it in the Dec competition......

although Ive got a cracker for the January comp thats set to go 300%+ in next few months.... Its all in place contracts signed , resources found, drilled, and welled plus flowing.....just that the market has failed to price it correctly....

Still cant believe no ones willing to discuss it or throw the comb over it in here........
 
condog care to share ur 'cracker'?

I too am impressed with AOK, only discovered it this morning. Churns low volumes and flies under the radar thats for sure. Not long till it gets an eye opening!
 
dougo said:
condog care to share ur 'cracker'?

I too am impressed with AOK, only discovered it this morning. Churns low volumes and flies under the radar thats for sure. Not long till it gets an eye opening!
Click to expand...

Arrr you noticed that post ......NZO known as New Zealand Oil and Gas
Has long contracts signed, major gas in Kupe with 15% interest....I estimated approx $70-81M additional net earnings...stack that on top of the current 33M and this thing seems set to go....I ran the numbers and with Kupe income I value it at around $3-$4 within 12 months....... Do your own research and number crunching. seek expert advice. DO NOT buy based on my conversation, simply use this info to trigger you into researching the company....I really mean this....Disclaimer - yes i do currently hold this share and yes I do intend to sell half my holding if it doubles in price.

I was also going to mention ROL which I hold was likely to skyrocket on possible impending results. But i didnt get time it went up 73% in the first hour of trade.


More good news yesterday for AOK with Gas and Oil find in Kansas on Clarke-No1 Wildcat Discovery. That might add a few more cents......and a few more if it passes production testing in january.

The well intersected the target Lansing-Kansas City Formation between 3,838 feet and 4,074 feet. Well logs indicate the presence of hydrocarbons in the Howard, Toronto and the Lansing-Kansas City formations. During a drill stem test conducted on the Lansing-Kansas City “A” Zone measured 820 feet of gas and 600 feet of oil was measured in the pipe with increasing flow pressure. The well has been cased and will be completed for production. The operator advises that production testing is planned for the first part of January 2010.
Click to expand...
Aok has not yet announced that they are a net oil producer, but based on my calcs they have easily surpassed that point in the last two months......yet are still priced like a speculative explorer...

There net break even point by analysts and the company itself was around 80 BOPD ....by my calcs they passed that figure over a month ago and have two additional wells since. One producing and on likely to produce very soon.

The things I love about this sompany is, it is priced like a speculative explorer, but is no I think a net oil producer, also it drills holes 4000ft deep for less then $150,000...... Most the other explorers / fledgling producers are outsouring the drilling for up to $1M per hole......Also thier success rate is off the rictar scale.....Im not sure the exact rate now as Im watching other companies more closely, but at one stage it was 5 from 5, and right no I think it 7 from 7 positive finds,. It may be 7 from 8.... but thats a terrific success rate...... On the down side so far all finds are small with low flow rates....but with a drilling cost of only $150K total these things are net profit in around 3 months each....compare that to a higher flow at $1M for drill only and your starting to see a picture developing.
 
More positive news Mayo No 5 in tulsa County has been drilled and has free flowing oil and gas to surface with multiple target zones of hydrocarbons found....

Been capped and production rig will be in place within weeks
 
Another positive result for AOK with free flowing oild and gas to the surface of another well today....capped and will be producing within 2 weeks.
 
Im temporarily out of AOK for two reasons...firstly i needed the money for another move....secondly i had a small concern that analyst reports on their website stated at 80BOPD they would be cash flow positive.....reading through their last report they are way over 80 BOPD, but still a way from being cash flow positive.... Id like to investigate that further before re entering AOK....

What i love about it is their rediculously high success rate, albiet small discoveries, but very low cost drilling....

I often wish my other explorers would use the same drilling technology as AOK, who are drilling at 3 times the speed, with great flexibitlty of targets and at only $100,000 per hole compared to $1Million per hole for most other explorers.....
 
Onvil said:
Any hope for this one - seems to be going nowhere fast, except down, while the oil price has increased.
Click to expand...

Ive got sum good news, -I think. I took the liberty of trying to find sum charting patterns with AOK after it came up on the rader.
I discovered that after 2 yrs AOK is finely growing its self sum head and shoulders after discovering its neckline plus sum double tops and bottoms. Which may exsplain, why it has not moved in line with the prices. For me this makes AOK worth every Penny.
Putting this one in my watchlist. Gunner be worth it.
My sources tell me that AOK will make resistance and breakout in the coming months providing I havn't miss read the charting charactoristics and the company fundermentals keep up there end of the bargian.:eek:
 
anyone still watching this one?

I have a feeling it is kinda promising
based on their annual report, they still have some cash and they manage to improve their profit in the 2010
What do you guys think?
 
MC - $65m
SP - 15c
Shares - 430m
Options - 140m (not quoted)
Cash - $9m

Announcement by AOK on March 19th caused a blip on their chart.

Development Drilling delivers Significant Oil and Gas Reserves Upgrade
● 1P Reserves increases 196% to 7.58 million BOE
● 1P Reserve NPV10 Value increases to $197.7m
● 2P Reserves increases 201% to 12 million BOE
● 2P Reserves NPV 10 Value increases to $284.1 million

Does anyone have more detailed knowledge of the company that would suggest similar or more positive news flow? Chart for AOK trending positive.
Those options are a concern, although most aren't due for at least another year, the strike price is at current SP levels or only marginally higher.
My interest is pricked a little, but those options stink up the place a bit for anyone with a mid term outlook.
 

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Kansas well intersects 350 feet of Mississippian

● Eller Chase Unit #1 successfully reaches TD 5,100 feet
● Well intersects target Lansing Kansas City, Cherokee and Mississippi Lime
● Testing underway on Mississippi Lime interval

United States mid-continent focused oil & gas producer AusTex Oil Limited (ASX:AOK – OTCQX:ATXDY) is pleased to provide an update on exploration drilling at the Colby Prospect,Thomas County, in which AusTex holds a 70% Working Interest.
Eller Chase Unit #1 successfully reaches TD
The operator, Castle Resources Inc., has reported that drilling operations have now reached TD at the Eller Chase Unit #1 well. Logs have been completed and confirm the well intersected the Lansing Kansas City, Cherokee and Mississippi Lime formations. A gross interval of 350 feet of Mississippian was recorded.
Current operations
Preparations are underway to conduct a drill stem test on a section of the Mississippian interval between 4,882 feet and 4,932 feet. Subject to the results of this test and further analysis of the logs and samples, a decision will be made on whether the hydrocarbons present are commercial.
A further report will be released later this week once results have been reviewed.

Here are links to information on the Mississippian Lime Fields that are worth reading if this information takes your fancy.
http://press.ihs.com/press-release/...n-oil-play-providing-reason-optimism-says-ihs
http://www.fool.com/investing/gener...sissippian-lime-the-next-great-energy-fi.aspx
 
AusTex reports solid production of 17,360 BOE for May

● May production equivalent to 560 boe/day – 70% oil
● Peak rate of 750 boe/day
● Significant operational progress to facilitate future production growth
● Drilling of new vertical wells in Oklahoma and Kansas is ongoing
● 16 wells producing and 6 wells now in pre-production phase
● AusTex benefitting from strong US dollar
● AusTex on track for record quarterly production and revenue growth

United States focused oil and gas producer, AusTex Oil is pleased to report net oil and gas production in the month of May of 17,360 Barrels of Oil Equivalent (BOE), with an average of 560 boe/day consisting of 70% oil. A peak rate of 750 boe/day was also reached in May reflecting the strong operational performance of the company’s vertical wells.
AOK successfully drilled two new vertical wells and fracced two additional wells during the month. The Company now has sixteen wells in production, three wells in production testing, and a further six wells under completion at the Snake River Mississippian Project in Northern Oklahoma.
 

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