Ann: Austin commences drilling in Mississippi USA, page-3

"The Company is focused on returning to positive cash flows. In response to the oil price at $40 a barrel, the Company is implementing further cost reductions to bring its costs in line with its revenues. Austin has reduced its G&A costs by approx. 60% and has reduced its workforce from 30 employees in 2014 to 8 as of August 2015. To offset naturally declining production the Company is drilling low cost and low risk wells that do not require horizontal drilling and expensive hydraulic stimulation"