ASX Announcement

Date: 18 June 2012

Texon Petroleum Ltd ABN 24 119 737 772

Level 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

Directors: John Armstrong Bernard Rowley David Mason Company Secretary:

Des Olling

Contact: Cliff Foss President & CEO

cfoss@texozep.com

Appendix 3Y Mr David Mason

Lapse of unlisted options

The attached Appendix 3Y records that 3,500,000 unlisted options issued to Mr David Mason lapsed on 8 May 2011.

The Appendix 3Y was not lodged within the requisite time after the expiry date of 8 May 2011 and the attached form corrects this error.

-ends

or:

John Armstrong Chairman john.armstrong@texonpetroleum.com.au

Website:

www.texonpetroleum.com.au

ASX Code: TXN Appendix 3Y Change of Director's Interest Notice

Rule 3.19A.2

Information or documents not available now must be given to ASX as soon as available. Information and documents given to ASX become ASX's property and may be made public.

Introduced 30/09/01 Amended 01/01/11

Name of entity TEXON PETROLEUM LTD ABN 24 119 737 772

We (the entity) give ASX the following information under listing rule 3.19A.2 and as agent for the director for the purposes of section 205G of the Corporations Act.

Name of Director

David James Melville Mason

Date of last notice

27 April 2011

Part 1 - Change of director's relevant interests in securities

In the case of a trust, this includes interests in the trust made available by the responsible entity of the trust

Note: In the case of a company, interests which come within paragraph (i) of the definition of "notifiable interest of a director" should be disclosed in this part.

Direct or indirect interest

Direct

Nature of indirect interest

(including registered holder)

Note: Provide details of the circumstances giving rise to the relevant

interest.

Mr Mason's children hold 21,228 fully paid shares.

Date of change

18 June 2012

No. of securities held prior to change

15,180,000 fully paid ordinary shares

3,500,000 unlisted options

Class

Unlisted options/fully paid ordinary shares

Number acquired

Number disposed

3,500,000 unlisted options

Value/Consideration

Note: If consideration is non

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