Brisbane, July 23, 2012 (ABN Newswire) - Texon Petroleum Ltd (ASX:TXN) advises that its fifth Eagle Ford well (Peeler EFS #1H) has tested at the rates of 1,072 bopd and 1.137 mmcfgpd (1,262 boepd) on an 18/64" choke at a flowing pressure of 2,794 psi.
It is expected that the well will be connected to oil and gas production tanks and pipelines next week.
Texon has an 89.24% WI (66.88% NRI) in the well.
Clifford S. Foss President of Texon Petroleum said "This is a very good result for a 15 stage frac in this lease obligation well."
Texon Petroleum Limited's (ASX:TXN) goal is to find commercially producible oil and gas by drilling 3D seismic controlled high equity prospects which have targets analogous to adjacent producing wells on established oil and gas producing trends in Texas.