ASX Announcement

Date: 18 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

Fourth Eagle Ford Well

30 Days - 23,700 boe

Texon advises that its fourth Eagle Ford well (Hoskins EFS
#1H) produced 23,780 boe (20,969 bo + 16,875 mcfg) during its first 30 days of production.
The fourth well produced 18% more oil during the 30 day period than the Company's first well, and is in line with the Company's third Eagle Ford well which produced 24,510 boe during its first 30 days.
The locations of Texon's Eagle Ford leases and wells together with nearby Eagle Ford wells are shown on the attached map.
Texon has a 95% WI in the Hoskins well and a 71.25% NRI in the production.
Texon's CEO, David Mason said "The 30 day production figures from our EFS #4 are another excellent result for the Company. The third and fourth Eagle Ford wells are in the northern and southern parts of Texon's leases. The Initial Production from these wells indicates that properly engineered Eagle Ford wells on all of our leases can be highly productive. Our third and fourth Eagle Ford wells have added real value for shareholders."
-ends

Oil and gas futures prices:

Source: NYMEX December 2011

Oil: US$98.76/bbl

Gas: US$3.45/mmbtu (this translates to approx. US$5.70/mcf for all Texon gas -

including US$6.60/mcf for Olmos and Eagle Ford gas)

Glossary:

bbl: barrel

bo: barrels of oil

boe: barrels of oil equivalent

boepd: barrels of oil equivalent per day (including gas converted to oil equiv barrels on basis of 6mcf to 1 barrel of oil equiv)

mcf: thousand cubic feet

mcfg: thousand cubic feet of gas mmbtu: million British thermal units NRI: Nett Revenue Interest

WI: Working Interest

Attachment:

(1): Map showing leases and wells

Page -2-

Attachment 1

The blue area indicates the 830 Eagle Ford acres acquired via the Company's announcement dated 21
October 2011.