Date: 13 September 2011Texon 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 0133Directors: John Armstrong David Mason Bernard RowleyCompany Secretary:
Des OllingContact: David Mason President & CEO
John Armstrong Chairman [email protected]Website:
www.texonpetroleum.com.auASX Code: TXN
Third Eagle Ford Well
On 31st August, Texon announced that its third Eagle Ford well (Tyler Ranch EFS #2H) had flowed at the rates of 1,488 bopd and 700 mcfgpd (combined 1,605 boepd (6)) at a pressure of 3,000 psi through a 16/64 choke.
The well has been choked back, which typically results in a reduction in production, however over the past 24 hours on a reduced 9/64 choke at and a pressure of 3,700 psi, the well has flowed at a rate of 1,786 bopd with 322 mcfgpd an overall rate of 1,840 boepd.
Dave Mason (CEO) This is a pleasing result and continues to highlight the value of our Eagle Ford Shale acreage. Our next production announcement on this well will be the flow rate for the first 30 days in a few weeks time.
Please refer to our earlier announcement dated 31 August and the location of the well is shown on the attached map.
Fraccing operations and testing of the Companys fourth Eagle Ford well are scheduled to begin in the last week in September.
Texon has an 82% Working Interest (61.6% Nett Revenue
Interest) in the Tyler Ranch EFS #2H well.
-endsOil and gas futures prices:
Source: NYMEX October 2011
Gas: US$3.90/mmbtu (this translates to approx. US$6.50/mcf for all Texon gas including US$7.40/mcf for Olmos and Eagle Ford gas)
boepd: barrels of oil equivalent per day (including gas converted to oil equiv barrels on basis of 6mcf to 1 barrel of oil equiv)
bopd: barrels of oil per day mcf: thousand cubic feet
mcfgpd: thousand cubic feet of gas per day mmbtu: million British thermal units
psi: pounds per square inchAttachment to Texon Release dated 13 September 2011