Texon Petroleum Limited (ASX:TXN) Sale Of Frio Production
Brisbane, Nov 22, 2010 AEST (ABN Newswire) - Texon Petroleum Limited (
ASX:TXN) advises that it has recently sold 375 mcfgpd, nett to the Company, of non-core Frio dry gas production and 5 Frio prospects for US$286,000. The Company continues to focus its efforts and capital towards the liquids rich Eagle Ford and Olmos reservoirs in McMullen County Texas.
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$81.51/bbl
- Gas: US$4.17/mmbtu (approx. US$5.40/mcf for all Texon gas - including US$6.70/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 16 hours behind Aust. Eastern Standard time)
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