ASX Announcement
Date: 20 June 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
Tel: +1 832 510 2076 or:
John Armstrong Chairman john.armstrong@texonpetroleum.com.auTel: +61 7 3211 1122
Website: ASX Code: TXNFifth 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
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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