ASX Announcement

Date: 24 February 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

or:

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

Website:

www.texonpetroleum.com.au

Eagle Ford Oil Project

In regard to yesterday's release on this project, the attached "Flyer" was made available at the North American Prospect Exposition ("NAPE") being held this week (23/24 February) in Houston, Texas, USA.
The acreage and Working Interest figures differ from yesterday's release as the "Flyer" information includes other Working Interest parties who are selling with Texon.
It is planned to open data rooms on Monday the 5th of March.
For further information, please contact: Mr Harrison Williams,
Executive Vice President Albrecht & Associates, Inc. Tel: +1 713 951 9586
Email: hwilliams@albrechtai.com
Or
Mr Rob Douglas Director, ECM Sales RBS Morgans Limited
Tel: +61 7 3334 4952
Email: rob.douglas@rbsmorgans.com

ASX Code: TXN

-ends

EAGLE FORD SHALE McMullen County TEXAS 7,712 Gross Acres (7,581 Net Acres) Average 98% Working Interest 4 Producing Horizontal Eagle Ford Wells Current Net Rate Approximately 500 BOPD, 950 Mcfd and 100 Bbls of NGL >90% of Revenue from Oil & NGLs 90 Net 80-Acre Drilling Locations Entire Position Surrounded by Productive Wells Average Initial Production Rate of Over 1,400 BOEPD

oil & gas divestment specialists

711 Louisiana, Suite 1600 Houston, TX 77002

713-951-9586

Atascosa

Live Oak

McMullen

0 20,880

FEET

PETRA 2/16/2012 3:37:21 PM