Texon Petroleum Ltd (ASX:TXN) Fourth Eagle Ford Well Produced 23,700 boe in First 30 Days

Brisbane, Nov 18, 2011 AEST (ABN Newswire) - Texon Petroleum Ltd (ASX:TXN) advises that its fourth Eagle Ford well (Hoskins EFS #1H) produced 23,780 boe (20,969 bo + 16,875 mcfg) during its first 30 days of production.

The fourth well produced 18% more oil during the 30 day period than the Company's first well, and is in line with the Company's third Eagle Ford well which produced 24,510 boe during its first 30 days.

The locations of Texon's Eagle Ford leases and wells together with nearby Eagle Ford wells are shown on the attached map: http://media.abnnewswire.net/media/en/docs/ASX-TXN-237437.pdf

Texon has a 95% WI in the Hoskins well and a 71.25% NRI in the production.

Texon's CEO, David Mason said "The 30 day production figures from our EFS #4 are another excellent result for the Company. The third and fourth Eagle Ford wells are in the northern and southern parts of Texon's leases. The Initial Production from these wells indicates that properly engineered Eagle Ford wells on all of our leases can be highly productive. Our third and fourth Eagle Ford wells have added real value for shareholders."

Contact

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