re: Ann: AusTex Oil Announces $3.2m Placement... @ Canggu1) They...

re: Ann: AusTex Oil Announces $3.2m Placement... @ Canggu

1) They already have water disposal wells in place.

2) 1 water disposal well services multiple producing wells.

3) The $3.3M per well that oilers quote for horizontals is inclusive of water disposal.

4) The $800k quoted for vertical wells is for a new well inclusive of water dispsal and ESP

5) AOK have stated they are deepening existing wells, not drilling brand new wells.

6) As AOK have not stated an immediate intention to drill a horizontal well, I fail to see why $1.4M can not wait 2 months.

7) Mr Hung is protecting his current $1.4M investment by ploughing in another $1.4M. Expensive protection.

AOK has been a VERY poor performer and there is lots to cricise about it. But your post is factually incorrect on multiple counts.