ASX Announcement
Date: 8 May 2012
Texon Petroleum Ltd ABN 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
Directors: John Armstrong Bernard Rowley David Mason Company Secretary:Des Olling
Contact: Cliff Foss President & CEOcfoss@texozep.com
or:
John Armstrong Chairman john.armstrong@texonpetroleum.com.au
Website: ASX Code: TXNFifth Eagle Ford Well
Texon's fifth Eagle Ford well, Peeler EFS #1H (a lease
commitment well), began drilling operations on 6 May 2012.
The well is expected to take 25 days to reach its total depth
after drilling 4,200 feet of horizontal section. The well
will then be cased, fracced and connected for production.
Texon has an 82.2% WI (61.6% NRI) in the well.
Please also refer to the Company's release of
19th April 2012. Clifford S. Foss, President of
Texon Petroleum said "Texon's
fifth Eagle Ford well is scheduled to be fracced and
connected for production in mid July 2012".
-ends
Source: NYMEX June 2012
Oil: US$97.99/bbl
Gas: US$2.31/mmbtu (this translates to approx. US$3.80/mcf for all Texon gas - including US$4.40/mcf for Olmos and Eagle Ford gas)
Glossary:bbl: barrel
mcf: thousand cubic feet
mmbtu: million British thermal units
NRI: Net Revenue Interest
WI: Working Interest
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