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Texon Petroleum Limited (ASX:TXN) Second Eagle Ford Lateral Well 142ft of Oil and Gas Shows.

Brisbane, Australia, Nov 30, 2010 - (ABN Newswire) - Texon Petroleum Limited (ASX:TXN) advises that its second Eagle Ford lateral well, Mosman-Rockingham EFS #1H, has drilled vertically to a depth of 3,311m (10,865ft) and has encountered oil and gas shows in the Eagle Ford Shale. The Eagle Ford in the well is 142 ft thick, similar to the two vertical Eagle Ford wells previously drilled by Texon in the area.

The well will now drill 1,372m (4,500ft) laterally within the Eagle Ford shale at which time production casing will be run. This is expected to take about 3 weeks.

Fracture stimulation of the well is scheduled for early February 2011 followed by production testing.

Texon has a 100% Working Interest (75% Net Revenue Interest) in the MR EFS #1H well.

Please refer to Texon's website for announcements by the Company: www.texonpetroleum.com.au

Oil and gas futures prices (Source: NYMEX December 2010 contracts)

Oil: US$85.78/bbl

Gas: US$4.21/mmbtu (approx. US$5.50/mcf for all Texon gas - including US$6.7/mcf for Leighton Olmos gas)

About Texon Petroleum Ltd:

Texon Petroleum Limited's (ASX:TXN)goal is to find commercially producible oil and gas by drilling 3D seismic controlled high equity prospects which have targets analogous to adjacent producing wells on established oil and gas producing trends in Texas.

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Publication:ABN Newswire
Geographic Code:8AUST
Date:Nov 30, 2010
Words:240
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