MARKET RELEASE

13 November 2012

Texon Petroleum Limited

TRADING HALT

The securities of Texon Petroleum Australia Limited (the "Company") will be placed in Trading Halt Session State at the request of the Company, pending the release of an announcement by the Company relating to a major corporate divestment. Unless ASX decides otherwise, the securities will remain in Trading Halt Session State until the earlier of the commencement of normal trading on Thursday, 15 November 2012 or when the announcement is released to the market.

Security Code: TXN

Cormac Murphy

Adviser, Listings

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ABN 24 119 737 772

13 November 2012
Mr Nathan Bartrop Senior Advisor, Listings ASX Compliance
20 Bridge Street
Sydney NSW 2000
Dear Nathan,

Trading Halt Request

In accordance with Listing Rule 17.1 Texon Petroleum Ltd (TXN) requests an immediate halt in trading of its securities until commencement of trading Thursday 15 November 2012.
The trading Halt is required pending an announcement by the Company in respect of a proposed major corporate divestment. The Company expects to make an announcement by the close of business tomorrow Wednesday.

The Company is not aware of any reason why this request should not be granted. Yours sincerely
Des Olling
Company Secretary

Texon Petroleum Ltd
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