ASX Announcement

Date: 3 October 2011

Texon Petroleum LtdABN 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 RowleyCompany Secretary:

Des Olling

Contact: David Mason President & CEO

dave.mason@texonpetroleum.com.au

Fourth Eagle Ford Well

Fraccing Begins

Texon advises that fraccing of its fourth Eagle Ford well

(Hoskins EFS #1H) began on the 2nd of October.

Fraccing is expected to take about a week after which the well will be flow tested.

Results of the test should be available late next week.

The location of the Hoskins EFS #1H well is shown on the

attached map.

Texon has a 100% WI in the cost of the well and a 71.25% NRI in the production.

-ends

or:

John Armstrong Chairman john.armstrong@texonpetroleum.com.au

Website:

www.texonpetroleum.com.au

ASX Code: TXNOil and gas futures prices:

Source: NYMEX November 2011

Oil: US$78.75/bbl

Gas: US$3.66/mmbtu (this translates to approx. US$6.10/mcf for all Texon gas – including US$7.00/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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Attachment to Texon Release dated 3 October 2011