Nov 9 (Reuters) - Austin Exploration Ltd AKK.AX :
* Austin enters into strategic drilling rental agreement AKK.AX
* Says agreement significantly reduces ongoing development costs
* It has entered in to a strategic rental agreement with math energy drilling llc
* Under the agreement Austin maintains 100% of the oil and gas revenue from the pierre formation in the case of an oil discovery
* Source text for Eikon ID:nASXSh7NW