AKK 0.00% 0.3¢ austin exploration limited

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    0202 GMT [Dow Jones] Austin Exploration (AKK.AU) soars 62% to 34 cents after announcing
    oil and gas find in Kentucky. Heavy crude oil and gas has naturally flowed to the surface
    at a well in the Park City field, which Austin Managing Director David Schuette says
    confirms its commercial viability. "The natural flow of oil to the surface is highly
    encouraging and one heck of a start for this project," he says. Big advantage is
    that the field can be easily plugged into nearby infrastructure, delivering the gas into
    pipelines and oil to a nearby refinery. Austin planning to drill more than 40 wells in
    the region this year; further success would provide more support for the oil and gas
    junior. (APW)

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    (END) Dow Jones Newswires
    February 21, 2008 21:02 ET (02:02 GMT)
    Copyright (c) 2008 Dow Jones & Company, Inc.

    Friday 22 February 2008 13:02:03:840 AEST
 
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