Texon Petroleum Limited (ASX:TXN) Nambucca Well Flows Gas
Brisbane, Oct 26, 2010 AEST (ABN Newswire) - Texon Petroleum Limited (
ASX:TXN) advises that the recently drilled Nambucca well has tested gas at the gross rate of 442 mcfgpd from the Yegua reservoir through a 10/64" choke at 750 psi.
The well will be connected to the same gas sales pipeline as the recent Lennox discovery in the next 2-3 weeks.
Texon has a 32.5% WI (24.4% NRI) in Nambucca.
Please refer to Texon's website for announcements by the Company: http://www.texonpetroleum.com.au
Oil and gas futures prices (Source: NYMEX December 2010 contracts)
Oil: US$81.55/bbl
Gas: US$3.69/mmbtu (approx. US$4.80/mcf for all Texon gas - including US$5.90/mcf for Leighton Olmos gas).
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)
| ||
|
