The block provided by Kate should handle all of your specific needs, In order to get the text on the opposite side of the oval, you merely have to insert the block, fill in the attribute and mirror it along the center axis ... of course Autodesk broke some of the attribute stuff when then introduced 2008 (presumably for the annotation functionality) ... it has been that way since ... anyway, the attribute will mirror properly, but it won't work properly if you edit it after mirroring. at least in my tests.