The company along with Range Resources has started drilling the Hod #19-1N well which is being drilled to target the Mississippi Lime interval.
Hod #19-1N well will be drilled to a total depth of 9,600ft including an expected 4,000ft lateral; and the drilling program is estimated to take about 45 days time.
AusTex and Range Resources have plans to drill three wells in the Snake River Project of which Hod #19-1N well is the first one to be spud.
AusTex Executive Chairman Richard Adrey said, "The Working Interest and Net Revenue Interest of each non-operated well will vary according to the percentage of AusTex’s acreage that is applied to each horizontal well."
The company owns 8.416776% working interest and 6.7334% net revenue interest in the well.
