ASX Announcement
Date: 27 September 2011
Texon Petroleum LtdABN 24 119 737 772Level 9, 46 Edward Street
Brisbane, Qld Australia 4000Postal: GPO Box 402Brisbane, Qld Australia 4001Telephone: +61 7 3211 1122Fax: +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: TXNFourth 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/bblGas: 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 gasGlossary:bbl: barrel
mcf: thousand cubic feetmmbtu: million British thermal unitsNRI: Nett revenue interestWI: Working interestPage -2-
Attachment to Texon Release dated 27 September 2011