Ann: 2013 Year End Reserves Report , page-3

Thanks for doing that Dis...that was my first thought...so what is the change? If you are trying to sell good news you want to make it as easy as possible for people to pick up.

Seems like a conservative report to me re oil prices...but that's Austex for you...always conservative...which is fine by me.

Seems like they are setting the expectation as to the size of the RBL of being approx $30m in the June qtr, even though there will be substantially more wells online by that time. Will they get another reserves report done...i'd say $30 mill will do them fine, especially with all the cash coming in from exercising options and conversion of the convertible notes if the price stays >0.15. They will then do another end of year report and rejig the RBL this time next year based on that new report.

Seems like the first real mention of 'Sweet Project'. It seems to be the 860 acres in Tulsa, but it says proved developed producing...i assume they are still producing from the lancaster wells from 2010/11 which were <20bopd.

I wonder why they decided to include it. I doubt they will be focusing efforts on it in the near future when snake is such a better resource.

I'd love to see them include a full list of all the producing wells...from my count it is 5 long life verticals with Castle in Ellsworth producing <20bopd, an unknown number of long life verticals in Tulsa producing <20bopd, and then 27 producing and 6 pre production in snake river...but does that include the 2 production and 1 new pre production horizontals with range?

Since they included the Tulsa producing wells, i am suprissed they didnt also include the ellsworth wells, to boost their numbers...all small cheese though in comparison to snake river.

I have been watching this thread for many years now and been a holder or a few AOK shares for about 4 years so thought it was about time i started posting...