Ann: AusTex Oil Announces $3.2m Placement to Inve, page-5

re: Ann: AusTex Oil Announces $3.2m Placement... Guys,

Without question, this is a disaster for AOK. To put it in perspective it costs $US2.5m to drill a water disposal well BEFORE you are allowed to drill a horizontal well. We know that a Horizontal costs $US3m so thats $US5.5m in total - assuming everything goes to plan.

Not onlt that $1.4m from Mr Hung does not land until the 19th April.

Dis, I would suggest that Mr Hung had no choice than to stick his hand up as he would be protecting his considerably large holding.

Lanske cant be long at the helm here. It reflects very badly on Mgt.