Texon Petroleum Limited (ASX:TXN) Second Eagle Ford Well Flowed 1105 BOPD

Brisbane, April 15, 2011 AEST (ABN Newswire) - Texon Petroleum Limited (ASX:TXN) advises that its second Eagle Ford well, Teal Ranch EFS #1H, has flowed 1,228 boepd (1) representing 1,105 bpd of light sweet crude oil and 736 mcfpd of gas with a flowing tubing pressure of 2086 psi through a 18/64" choke. Some of the frac fluid is also still being recovered.

Texon's working interest in the well is 100%. Texon's beneficial interest (NRI) in the production is 75% or some 921 boepd of the above production.

Texon has installed oil and gas production facilities at the Teal well location. The facilities include oil and gas separation equipment, oil tanks, measurement systems and connections to gas pipelines. As a result, the Teal well has already been connected to these facilities so that oil and gas being produced is now part of Texon's revenue stream.

Texon has a 92.6% average working interest in approximately 6,387 gross acres including the Leighton, Mosman, Rockingham and Sutton leases, together with the 1,463 acres of Eagle Ford leases recently acquired. There are now 6 producing Eagle Ford wells on or in close proximity to the Company's leases including Texon's first and second Eagle Ford wells, so that the Eagle Ford reservoir is expected to be present throughout the Company's leases.

Texon's nett Eagle Ford acreage holding is 5,914 acres which could represent a resource potential of some 31 mmboe as to the Company's working interest.

David Mason said "this is another good Eagle Ford result and continues to enhance the value of Texon's overall Eagle Ford holdings".

Note: (1) Gas is converted to boepd on the basis that 6 mcf of gas are equivalent to 1 boe.

Oil and gas futures prices (Source: NYMEX May 2011 contracts)
- Oil: US$108.11/bbl
- Gas: US$4.21/mmbtu (approx. US$6.30/mcf for all Texon gas - including US$7.20/mcf for Leighton Olmos gas).

For the complete Texon announcement including maps, please view the following link:
http://www.abnnewswire.net/media/en/docs/231179.pdf

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) http://www.texonpetroleum.com.au