Robards Lauenstein #4 well successfully drilled and producing...

Robards Lauenstein #4 well successfully drilled and producing oil under natural pressure

• Well will be drilled and completed for less than US$100,000

• Drilled internally by Austin’s team with no contractors saving significant costs

• Well expected to produce oil profitably for 20+ years

• Low cost drilling program in Kentucky continues to provide operating cash flows for AKK

• Austin maintains focus on reducing costs while boosting production