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Texon Petroleum Ltd (ASX:TXN) Drilling update.

Perth, Australia, Dec 10, 2012 - (ABN Newswire) - Texon Petroleum Ltd (ASX:TXN) previously announced in the 30 November ASX release, Hoskins #4H, the eighth Texon Eagle Ford well commenced drilling operations on 6 December 2012. The Hoskins #4H well, a lease obligation well is planned for a lateral length of 7420 ft. at a measured depth of 18,800 ft, at a true vertical depth of 11,340 ft. Fraccing operations are planned to begin in late January 2013 pending crew and equipment availability.

The previously announced Hoskins #3H and the Quintanilla SM EF #1H (sixth and seventh Eagle Ford wells) have been cased for completion operations and are planned to be fracture stimulated commencing 17 December 2012.

Production facilities and pipeline connections for these wells will be completed in the next several weeks prior to flow back and production testing of the wells anticipated in January/February 2013.

President Clifford Foss said "All three of these new wells are longer laterals than any of our previous wells and we hope the added lateral length and additional frac stages will add significant reserve value and production rate increases to Texon's holdings in McMullen Co. Texas."

The map shows the wells surface and bottom hole locations, refer to link below for map:

http://media.abnnewswire.net/media/en/docs/ASX-TXN-711411.pdf

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.

Copyright 2012 ABN Newswire

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Publication:ABN Newswire
Date:Dec 10, 2012
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