Fifth Eagle Ford Well Scheduled To Commence Drilling By End of April
Brisbane, April 19, 2012 AEST (ABN Newswire) - Texon Petroleum Ltd (
ASX:TXN) advises that the Company's fifth Eagle Ford well (a lease commitment well) is scheduled to commence drilling by the end of April. It is expected that the well will take 45 days to drill with fraccing and completion for production to follow.
Texon will have a 82.2% WI (61.6% NRI) in the well.
Clifford S. Foss, President of Texon Petroleum said "Texon is pleased to announce the commencement of its fifth Eagle Ford well (Peeler 1H) on our 7,196 net WI Eagle Ford acres in McMullen County, Texas. We are currently building location and expect to initiate drilling activity in late April 2012. The fifth Eagle Ford well is located immediately adjacent to Texon's number three Eagle Ford well (Tyler Ranch 2H) which is Texon's most prolific Eagle Ford producing well with an estimated ultimate recoverable reserve of 550-600MBOE. We are extremely excited to commence our 2012 Eagle Ford drilling program with this new well".
Contact
Texon Petroleum Ltd
T: +61 7 3211 1122
F: +61 7 3211 0133
E: texon.info@texonpetroleum.com.au
WWW: www.texonpetroleum.com.au
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