Texon Petroleum Limited (ASX:TXN) Iluka Well Flows Oil and Gas 236 boepd

Perth, Sep 15, 2011 AEST (ABN Newswire) - Texon Petroleum Limited (ASX:TXN) advises that its Iluka well (Scherer #1) has flowed gas and oil at the rates of 1.23 mmcfgpd and 31 bopd (236 boepd (6)) through a 9/64" choke at a pressure of 2,640 psi.

The well will now be connected for production.

The Company has three previous discoveries in this area in the Yegua formation (Avoca, Lennox, Nambucca), all of which are in production. The prospects were identified using some of the 180 3D seismic surveys to which Texon has access through its Prospect Generation Agreement with Wandoo.

Texon has a 32.5% WI (24.375% NRI) in the Iluka well.

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