Mosman Rockingham New Olmos Well
Brisbane, May 8, 2012 AEST (ABN Newswire) - Texon Petroleum Ltd (
ASX:TXN) advises that the Wheeler #1 well began drilling operations on 6 May 2012 toward a proposed vertical depth of 9,200'. The well is expected to take 20 days to reach its total depth.
Logs will then be run and if productive Olmos oil pay is indicated, the well will be cased in readiness for fraccing operations.
Texon has a 95% Working Interest in the well.
The potential of the Olmos in the Mosman-Rockingham area to Texon's Working Interest is estimated to be 3 mmboe.
Please also refer to the Company's release of 19th April this year where Mr Clifford S. Foss President of Texon Petroleum said "this is an important new low risk initiative for Texon which, if successful, could begin production in July this year".
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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