News release from Global Petroleum, TXN's minority interest...

News release from Global Petroleum, TXN's minority interest partner in the EFS.

Highlights
-the first well produced 51,719 bopd over 120 days
-the next EFS well is planned to for spud in under a month from now, with an August frac...

"Tyler Ranch EFS #2H is expected to begin drilling in mid May and take 30 days to dril"


19 April 2011

RNS AIM release



Global Petroleum Limited - Second Eagle Ford Well - Rig Secured





Texon Petroleum Ltd (ASX: TXN) has advised that it has secured a rig for Tyler Ranch EFS #2H, the second Eagle Ford horizontal well in which Global Petroleum Limited ("Global") has an interest.



Tyler Ranch EFS #2H is located immediately north of the first Eagle Ford well ("Tyler Ranch EFS #1H"). The first Eagle Ford well had an initial production rate of 1,200 bopd and has produced 51,719 bo and 66.9 mmcfg or 62,866 boe in the past 120 days. Tyler Ranch EFS #2H is expected to begin drilling in mid May and take 30 days to drill.



Global has a 7.939% working interest (5.95% NRI) in Tyler Ranch EFS #1H and Tyler Ranch EFS #2H. A successful Eagle Ford well will be able to use the tanks and other production facilities already in place for the first Eagle Ford well.



The fraccing and testing for Tyler Ranch EFS #2H is scheduled for August