ASX Announcement

Date: 27 September 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

or:

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

Website:

www.texonpetroleum.com.au

ASX Code: TXN

Fourth Eagle Ford Well

Fraccing / Testing to Begin

Texon’s fourth Eagle Ford well (Hoskins EFS #1H) was scheduled to begin fraccing operations on the 26th of September 2011.

The work has been delayed slightly with fraccing operations now scheduled to begin on 2nd October.

Fraccing should take about a week followed by testing with Initial Production results expected to be available a few days later.

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

Oil and gas futures prices:

Source: NYMEX November 2011

Oil: US$80.13/bbl

Gas: US$3.83/mmbtu (this translates to approx. US$6.40/mcf for all Texon gas – including US$7.30/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 27 September 2011