Texon Petroleum Ltd

Texon Petroleum Limited (ASX:TXN) 2009 year end proved and probable reserves are respectively 1.9 mmboe and 1.1 mmboe - a total of 3.0 mmboe as to the Company's current working interests. From mid year 2009, this is an increase of 40% and from year end 2008, the increase is 200%.

Texon Petroleum Ltd (ASX:TXN) advises that the first well on its 3,270 acre Mosman-Rockingham leases - Mosman-Rockingham #1 (MR #1 or Hoskins #1), commenced drilling on 15 March 2010. MR #1 will be a vertical well to a planned total depth of 3,490 metres (11,450 feet) and will investigate the presence and characteristics of the Olmos and Eagle Ford reservoirs in the Mosman-Rockingham leases.

Texon Petroleum Ltd (ASX:TXN) has a 70-100% WI in 4,500 acres of leases over its Leighton-Mosman-Rockingham projects, where there are two reservoir targets.

ABN Newswire stocks to watch today include: Galaxy Resources Limited (ASX:GXY) (PINK:GALXF), Conquest Mining Limited (ASX:CQT) (PINK:CQMLF), Australian Bauxite Limited (ASX:ABZ), Benitec Limited (ASX:BLT) (PINK:BNIKF), AusTex Oil Limited (ASX:AOK) (PINK:ATXDF), Bandanna Energy Limited (ASX:BND), WestSide Corporation Limited (ASX:WCL) and Texon Petroleum Ltd (ASX:TXN).

Texon Petroleum Ltd (ASX:TXN) advises that following the re-fraccing of the Tyler Ranch #1 well and remedial work on other wells in the Leighton field that the Company's nett production from all of its wells (including Leighton) has increased to 535 boepd, up 40% from the mid January rate of 378 boepd in the Company's December quarterly report.

ABN Newswire stocks to watch today include: Pan Asia Corporation Ltd (ASX:PZC), Texon Petroleum Limited (ASX:TXN), Republic Gold Limited (ASX:RAU), Galaxy Resources (ASX:GXY), and Stirling Resources (ASX:SRE).

Texon Petroleum Limited (ASX:TXN) has mandated the Commonwealth Bank of Australia (the "CBA") through its wholly owned subsidiary Texoz E&P II, Inc. to explore financing options to develop the Company's Leighton field over the next several months. The CBA is a leading provider of upstream oil and gas financing with a dedicated oil and gas team with offices in Australia and North America.

ABN Newswire stocks to watch today include: WestSide Corporation Limited (ASX:WCL), Texon Petroleum Limited (ASX:TXN), Pan Asia Corporation Ltd (ASX:PZC), Anglo Australian Resources NL (ASX:AAR) (PINK:AAURF), Benitec Limited (ASX:BLT) (PINK:BNIKF) and CityView Corporation Limited (ASX:CVI) (OTC:CTVWF).

Texon Petroleum Limited (ASX:TXN) is pleased to provide the Quarterly Report for the period ended 31 December 2009.

ABN Newswire stocks to watch today include: Otto Energy Limited (ASX:OEL) (PINK:OTTEF), Focus Minerals Limited (ASX:FML), Texon Petroleum Limited (ASX:TXN), Dynasty Metals Australia Limited (ASX:DMA) and Mission NewEnergy Limited (ASX:MBT) (PINK:MIBFF).