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"AusTex Oil updates their well development program. Australia (Sharewellnewswire) July 31, 2012 - United States focused oil & gas producer AusTex Oil Limited (ASX: AOK, OTCQX: ATXDY) is pleased to report oil and gas production rates for the month of June 2012. Production for the month of June increased to 299 BOE/d, a 75% increase on the prior month. The increase was due largely to the contribution from the Balder #1 horizontal well, in which AusTex participated with Range Resources Inc. (NYSE: RRC). Improved production from the Company's producing vertical wells also contributed. "

"The Norway government has intervened to settle the dispute between striking oil workers and employers, when it ordered Monday a last-minute settlement. Market fears over a full closure of its oil industry and a steep cut in Europe's supplies were averted."

"Iran has retaliated against South Korea's move on Tuesday to stop accepting Iranian oil by threatening to stop all import of goods from that country. "

"Upbeat US economic news led to the rise of oil prices Wednesday, while scorching temperatures lifted natural gas to its highest level in more than five months."

"A fine of $3.7 million has been imposed on Enbridge Inc over a July 2010 crude oil spill, which contaminated stretches of the Kalamazoo River in Michigan. It was the largest penalty ever imposed by the US pipeline regulator."

"Shell is likely to receive permits from the Interior Department to begin drilling exploratory wells off the North Slope of Alaska as early as next month. Interior Secretary Ken Salazar said on Tuesday that it is necessary for Shell to meet the new standards for offshore drilling set by the Interior Department. "

"Petronas, Malaysia's state oil company, has offered to acquire its Canadian joint- venture partner, Progress Energy Resources by making a friendly bid of C$4.8 billion ($4.7 billion), amounting to C$20.45 a share."