ASX Announcement
Date: 11 October 2011
Texon Petroleum LtdABN 24 119 737 772Level 9, 46 Edward Street
Brisbane, Qld Australia 4000
Postal: GPO Box 402
Brisbane, Qld Australia 4001
Telephone: +61 7 3211 1122
Fax: +61 7 3211 0133
Des Olling
Contact: David Mason President & CEOdave.mason@texonpetroleum.com.au
Fourth Eagle Ford Well
Testing to Begin
Texon advises that its fourth Eagle Ford well (Hoskins EFS
#1H) has been successfully fracced over 16 stages using the same operational procedures as were applied to our third
Eagle Ford well (Tyler Ranch EFS #2H).
Production testing of the fourth well will now begin with the
Initial Test rate expected to be available early next week.
The location of the Hoskins EFS #1H well is shown on the
attached map.
Texon has a 100% WI in the cost of the well and a 71.25% NRI in the production.
-ends
or:
John Armstrong Chairman john.armstrong@texonpetroleum.com.au
www.texonpetroleum.com.au
ASX Code: TXNOil and gas futures prices:Source: NYMEX November 2011
Oil: US$85.80/bbl
Gas: US$3.57/mmbtu (this translates to approx. US$5.90/mcf for all Texon gas – including US$6.80/mcf for Olmos and Eagle Ford gas
bbl: barrel
mcf: thousand cubic feet
mmbtu: million British thermal units
NRI: Nett revenue interest
WI: Working interest
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Attachment to Texon Release dated 11 October 2011