Texon Petroleum Limited (ASX:TXN) Begins Third Eagle Ford Well Fraccing and Testing

Brisbane, Aug 10, 2011 AEST (ABN Newswire) - Fraccing and testing operations on Texon Petroleum Limited's (ASX:TXN) third Eagle Ford well (Tyler Ranch EFS #2H) began on 8th August, 2011. The project involves 17 stages(compared with 15 in the Company's first Eagle Ford well), with fraccing expected to take about a week followed by testing.

Initial flow test results are expected to be available in two weeks.

The location of the Tyler Ranch EFS #2H well is shown on the map, see link: http://media.abnnewswire.net/media/en/docs/68930-ASX-TXN-234030.pdf

The surface location of the well is close to the production facilities associated with the Company's first Eagle Ford well so the well will be able to be immediately connected for production.

Texon has an 82% Working Interest (61.6% Nett Revenue Interest) in the Tyler Ranch EFS #2H well.

Oil and gas futures prices:
Source: NYMEX Sept 2011 contracts
- Oil: US$82.30/bbl
- Gas: US$4.01/mmbtu (this translates to approx. US$6.70/mcf for all Texon gas - including US$7.60/mcf for Olmos and Eagle Ford gas

Contact

Dr. John Armstrong Chairman Email: john.armstrong@texonpetroleum.com.au Mr. David Mason Chief Executive Officer Email: dave.mason@texonpetroleum.com.au Tel: +61-7-3211-1122 http://www.texonpetroleum.com.au