Texon Petroleum Limited (ASX:TXN) Seeks Buyers for Olmos Production and Related Leases

Brisbane, Oct 26, 2011 AEST (ABN Newswire) - Texon Petroleum Limited (ASX:TXN) advises that it has appointed Houston based Albrecht & Associates to seek buyers for Texon's Olmos production and related leases. This possibility was raised in the Chairman's letter to Shareholders dated 18 August 2011.

Proceeds from the sale will strengthen the Company's cash position.

Texon will retain its Eagle Ford production and leases in this area.

Enquiries should be directed to Mr Harrison Williams, Executive Vice President at Albrecht & Associates - hwilliams@albrechtai.com or telephone +1 (713) 951 9586.

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