ASX Announcement

Date: 20 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

Tel: +1 832 510 2076 or:

John Armstrong Chairman john.armstrong@texonpetroleum.com.auTel: +61 7 3211 1122

Website:

www.texonpetroleum.com.au

ASX Code: TXN

Fifth Eagle Ford Well - Early July Test

Texon advises that its fifth Eagle Ford well, Peeler EFS #1H (a lease commitment well), is on schedule to begin its fraccing operation on July 10th. The well reached its total depth of
14,795 feet 2-3 weeks ago after drilling 4,200 feet of horizontal
Eagle Ford section with good oil and gas shows.
After the fraccing operation is complete, the well will be production tested and it is expected that the well will be on stream by the end of July.
Texon has an 89.24% WI (66.88% NRI) in the well.
-ends

Current oil and gas futures prices:

Source: NYMEX July 2012

Oil: US$83.98/bbl

Gas: US$2.57/mmbtu (this translates to approx. US$4.30/mcf for all

Texon gas - including US$4.90/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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