September 2012 Quarterly Report
September 2012 Quarterly Report

Sydney, Oct 31, 2012 AEST (ABN Newswire) - Texon Petroleum Ltd's (googlechartASX:TXN) (googlechartPINK:TEXOF) net average daily production in the September quarter of 571 boepd was an increase on the Company's June quarter average of 371 boepd, mainly attributable to the added production from the Company's fifth Eagle Ford well (Peeler #1H) and the Wheeler #1 Olmos well being brought on stream during the quarter. Quarterly production is down from the corresponding period last year which has been impacted by the sale of our Leighton Olmos and Yegua production from 15 producing wells effective 1 February 2012, in addition to natural decline.

(1) Texon's beneficial NRI share (after Royalties)
(2) Gas is converted to boe on the basis that 6mcf of gas are equivalent to 1 boe.
Reserves

During the quarter the Company reported its Proved, Probable and Possible reserves as at 1 August 2012 attributable to Texon's NRI of 12.58 mmboe.

The total is an 11% increase on the 11.33 mmboe at year end 2011 (after adjusting the year end 2011 reserves of 12.88 mmboe for the sale in March 2012 of the Leighton Olmos and Yegua reserves of 1.55 mmboe).

View the Full Quarterly report, please visit:
http://media.abnnewswire.net/media/en/docs/ASX-TXN-703709.pdf

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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