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ACKO Austin Chalk Announces Completion of Work-over
PR Newswire - November 17, 2005 7:30 AM (EDT)
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HOUSTON, Nov 17, 2005 /PRNewswire-FirstCall via COMTEX/ -- Austin Chalk Oil & Gas, Ltd. (OTC Bulletin Board: ACKO) announced this morning that it has finished the first portion of the work-over of its Edgmon-Cameron H12 well to correct problems incurred due to improper cementing when originally completed. The work-over has improved the gas production to an average of 200 MCF per day. Gas from the Austin Chalk is very sweet which means that it has a very high BTU rating and is currently selling for around $11.00 per MCF. Since its completion, the well has produced over 2,800 barrels of oil and over 40,000 MCF of gas. Management expects the production rate to continue to improve.

ABOUT AUSTIN CHALK OIL & GAS

Austin Chalk Oil & Gas is an emerging oil and gas company focused on participating in low to medium risk re-completion projects along with higher risk drilling opportunities.

Austin Chalk Oil & Gas is focused on increasing production by means of; continuing acquisitions, development projects and exploration drilling within a joint venture framework.

Safe Harbor Statement

Safe Harbor Statement under the Private Securities Litigation Reform Act of 1995: This news release contains forward-looking information within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended, including statements that include the words "believes", "expects", "anticipates" or similar expressions. These include the failure of any of the conditions to closing stated above, completion of the acquisitions of the target businesses, attracting necessary management, a delay in the formal launch of the website, raising the necessary capital to fund business operations and potential market competition. Such forward-looking statements involve known and unknown risks, uncertainties and other factors that may cause the actual results, performance or achievements of the Company to differ materially from those expressed or implied by such forward-looking statements. (Such factors include, among others, the risk factors contained in the company's Annual Reports and other filings with the Securities and Exchange Commission.) In addition, description of anyone's past success, either financial or strategic, is no guarantee of future success. The Company will remain dependent upon future financing for its growth and development, and for it to successfully implement its business plan. No statement contained herein should be construed as indicating that such financing is or will be available, and if available, will be on terms favorable to the Company. This news release speaks as of the date first set forth above and the Company assumes no responsibility to update the information included herein for events occurring after the date hereof.

SOURCE Austin Chalk Oil & Gas, Ltd.

Darrell Figg, President of Austin Chalk Oil & Gas, Ltd., [phone]