ASX Announcement
Date: 11 October 2011
Texon Petroleum LtdABN 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
Des Olling
Contact: David Mason President & CEOdave.mason@texonpetroleum.com.au
Third Eagle Ford Well
30 Days – 30,000 boe
Texon advises that during its first 30 days of production, the Company’s third Eagle Ford well (Tyler Ranch EFS #2H) produced 30,400 boe (92% oil). This is some 50% more than our first Eagle Ford well (Tyler Ranch EFS #1H) which produced 19,651 boe in its first 30 days.
Texon has an 82% Working Interest (61.6% Nett Revenue
Interest) in the Tyler Ranch EFS #2H well.
The location of the well is shown on the attached map.
The Company’s CEO, David Mason said “this is a very good result for the Company”.
-ends
or:
John Armstrong Chairman john.armstrong@texonpetroleum.com.au
www.texonpetroleum.com.au
ASX Code: TXNOil and gas futures prices:Source: NYMEX November 2011
Oil: US$85.80/bbl
Gas: US$3.57/mmbtu (this translates to approx. US$5.90/mcf for all Texon gas – including US$6.80/mcf for Olmos and Eagle Ford gas)
bbl: barrel
boe: barrels of oil equivalent bopd: barrels of oil per day mcf: thousand cubic feet
mmbtu: million British thermal units
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Attachment to Texon Release dated 11 October 2011