ASX Announcement

Date: 24 November 2011

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 David Mason Bernard Rowley Company Secretary:

Des Olling

Contact: David Mason President & CEO

dave.mason@texonpetroleum.com.au
or:
John Armstrong Chairman john.armstrong@texonpetroleum.com.au

Website:

www.texonpetroleum.com.au

ASX Code: TXN

Wilcox Test

Texon advises that its first Wilcox Well (Hoskins #2) is flowing oil at a few barrels a day.

The Wilcox interval currently being tested is the deepest of several Wilcox zones that have oil or gas shows in this well. Texon plans to fracture stimulate the current zone and one immediately above it as soon as a stimulation company can be scheduled.

The timing of the stimulation test and results when available will be advised in due course.

Texon has an average 95% WI (71.25% NRI) in the well.

-ends

Oil and gas futures prices:

Source: NYMEX January 2012
Oil: US$95.82/bbl
Gas: US$3.37/mmbtu (this translates to approx. US$5.60/mcf for all
Texon gas - including US$6.40/mcf for Olmos and Eagle Ford gas

Glossary:

bbl: barrel
mcf: thousand cubic feet
mmbtu: million British thermal units
NRI: Nett Revenue Interest
WI: Working Interest

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Ce noodl a été diffusé par Texon Petroleum Ltd. et initialement mise en ligne sur le site http://www.texonpetroleum.com.au. La version originale est disponible ici.

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