Texon Petroleum Limited (ASX:TXN) Reached Milestone Of 1,200 BOEPD
Brisbane, April 18, 2011 AEST (ABN Newswire) - Texon Petroleum Limited (
ASX:TXN) advises following the recent successful production testing of its second Eagle Ford well and three Leighton Olmos wells, the total gross production from Texon's sixteen producing wells is in excess of 2,100 boepd (made up of 1,300 bopd and 4,900 mcfgpd), with Texon's nett beneficial interest being in excess of 1,200 boepd (made up of 840 bopd and 2,380 mcfgpd).
The Company is on track to meet its second quarter average nett production rate forecast of some 920 boepd. Please refer to 12 April 2011 EGM presentation.
Please refer to Texon's website for announcements by the Company: http://www.texonpetroleum.com.au
Oil and gas futures prices (Source: NYMEX May 2011 contracts)
- Oil: US$109.66/bbl
- Gas: US$4.20/mmbtu (approx. US$6.30/mcf for all Texon gas - including US$7.20/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)
http://www.texonpetroleum.com.au
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