Texon Petroleum Ltd (ASX:TXN) Update on Wilcox Oil Test

Brisbane, Sep 29, 2011 AEST (ABN Newswire) - Texon Petroleum Limited's (ASX:TXN) first Wilcox well (Hoskins No. 2 (Wilcox)) has been drilled and logged. The well has been cased ready for testing.

Full log analysis has yet to be completed but a "quick look" by NuTech indicates that there could be 40 feet of pay in the well in a number of zones up to 10 feet thick.

Side wall cores from the deepest 5' zone (which has the best reservoir characteristics of the possible Wilcox pay zones) at a depth of 6,600', indicate good porosity (23%) and good oil shows (19.8% oil in the porosity). Light oil (390 API) recovered from the side wall cores is similar to oil recovered from side wall cores in 15' of Wilcox in our Teal Well (see Texon's release of 8th September).

It is planned to test this zone in about 3 weeks time and if the test is successful, to connect the well for production.

The test is being delayed to enable the fraccing of the Company's nearby 4th Eagle Ford well (Hoskins EFS #1H) to take place. The Wilcox well is only 80 feet away from the Eagle Ford well and Wilcox testing could interfere with the Eagle Ford frac and testing operations.

The locations of the Hoskins No. 2 (Wilcox) and the Teal well are shown on the attached map, see link: http://media.abnnewswire.net/media/en/docs/ASX-TXN-235585.pdf

Texon has a 100%WI (75% NRI) in the 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