Austin Exploration Limited (ASX:AKK) agreed to sell 30% interest in Birch Eagle Ford property in Burleson County, Texas for AUD 1.5 million on January 31, 2016. The proceeds from the transaction will be used to strengthen Austin's balance sheet and pay down its reserves based line of credit. The Birch Eagle Ford property was marketed and sold through Meagher Energy Advisors.

Ben Jarvis of Six Degrees Investor Relations acted as PR agent for Austin Exploration. Meagher Energy Advisors also acted as a financial advisor to Austin Exploration.