ASX Announcement
Date: 24 August 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 0133Directors: John Armstrong David Mason Bernard RowleyCompany Secretary:Des Olling
Contact: David Mason President & CEOdave.mason@texonpetroleum.com.au
or: John Armstrong Chairman john.armstrong@texonpetroleum.com.auWebsite:www.texonpetroleum.com.au
ASX Code: TXNThird Eagle Ford Well
Testing Begins
Texon advises that its third Eagle Ford well (Tyler Ranch EFS
#2H) has been successfully fracced over 17 stages and will now be tested. The recovery of frac fluid will probably take a
few days after which the Company will be able to conduct a
proper flow test of the well.
The location of the Tyler Ranch EFS #2H well is shown on the
attached map.
Texon has an 82% Working Interest (61.6% Nett Revenue
Interest) in the Tyler Ranch EFS #2H well.
-ends
Oil and gas futures prices:Source: NYMEX Sept 2011
Oil: US$85.67/bbl Gas: US$4.00/mmbtu (this translates to approx. US$6.60/mcf for all Texon gas – including US$7.60/mcf for Olmos and Eagle Ford gasGlossary:bbl: barrel
mcf: thousand cubic feet mmbtu: million British thermal unitsPage -2-
LOCATION OF EAGLE FORD WELLS