Texon Petroleum Limited (ASX:TXN) Seventh Leighton Olmos Well Flows 350 Boepd And First Eagle Ford Well Drilling Commences Soon
Brisbane, Sep 13, 2010 AEST (ABN Newswire) - Texon Petroleum Limited (
ASX:TXN) ("Texon") advises that the recently drilled seventh well on its Leighton Project, (Tyler Ranch #6) has begun to flow oil and gas at the gross rate of 350 boepd from the Olmos reservoir (comprising 205 bopd and 880 mcf of gas per day) through a 10/64" choke at 2000 psi.
Texon has a 50% Working Interest (37.5% net revenue interest) in the well.
Tyler Ranch #6 has been connected to oil tanks and a gas sales pipeline so that the Company will now begin to receive revenue from the production.
The Company plans to drill one or two Leighton Olmos wells per quarter starting Q1, 2011. There are 28 potential drill sites remaining in the Leighton field.
Texon's first Eagle Ford well in the Leighton area is expected to begin drilling in the next 5-7 days.
Contact
Dr. John Armstrong
Chairman
Brisbane: TEL: +61-7-3211-1122
Mr. David Mason
Chief Executive Officer
Brisbane: TEL: +61-7-3211-1122
Houston: TEL: +1-281-419-4976
(Houston is 15 hours behind Aust. Eastern Standard time)
| ||
|
