Texon Petroleum Limited (ASX:TXN) Third Eagle Ford Well Reached Test Rate of 1488 BOPD

Perth, Aug 31, 2011 AEST (ABN Newswire) - Texon Petroleum Limited (ASX:TXN) announces that its third Eagle Ford well (Tyler Ranch EFS #2H) has tested oil and gas at the rates of 1,488 bopd and 700 mcfgpd (combined 1,605 boepd (6)) through a 16/64" choke at a flowing tubing pressure of 3,000 psi.

The well is located just to the north of the Company's first Eagle Ford Well (Tyler Ranch EFS #1H) - please refer to the map: http://media.abnnewswire.net/media/en/docs/ASX-TXN-234741.pdf

The test rate from the third well is more than the 1,200 bopd initial rate from Texon's first EF well through the same sized choke. The third well also has a higher flowing pressure which indicates the well may perform better than the first well.

As the ownership of our first and third EF wells is the same, the third well is already connected for oil and gas production through the EFS #1 production facilities.

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

Texon's CEO, David Mason said "this is a very good result for the Company. The EFS #3 well is expected to add new Proved, Probable and Possible locations to the Company's inventory of firm Eagle Ford well locations and highlights the quality of Texon's Eagle Ford acreage."

Contact

David Mason President & CEO Email: dave.mason@texonpetroleum.com.au John Armstrong Chairman Email: john.armstrong@texonpetroleum.com.au http://www.texonpetroleum.com.au