Texon Petroleum Limited (ASX:TXN) Fifth Leighton Well Flows 480 BOEPD From The Olmos Reservoir
Texon Petroleum Limited (ASX:TXN) Fifth Leighton Well Flows 480 BOEPD From The Olmos Reservoir

Brisbane, Nov 18, 2009 AEST (ABN Newswire) - Texon Petroleum Limited (ASX:TXN) reports that the fifth Leighton production well (Tyler Ranch #4) has flowed 480boepd from the Olmos reservoir comprising oil and gas at the rates of 410bopd and 425mcfgpd through a 10/64" choke at a flowing surface pressure of 2150psi.

The first four Leighton production wells were initially produced through 10/64" and 12/64" chokes at rates of 360 to 500boepd.

A smaller 8/64" choke will now be used in the Tyler Ranch #4 to investigate the performance of the well under different conditions from the first four wells. Information gained from Tyler Ranch #4 together with engineering data from the first four wells will assist in planning the development of the field with further production wells. The data will help in determining the appropriate well spacing to drain the field to maximize the recovery of oil and gas from the reservoir.

Texon has a 70% working interest (52.5% net revenue interest) in the Leighton prospect with joint venture partners Global Petroleum Limited (15%) and Excellong, Inc. (15%).

Contact

Dr John Armstrong
Chairman
Brisbane: +61-7-3211-1122

Mr David Mason
Chief Executive Officer
Brisbane: +61-7-3211-1122
Houston: +1-281-419-4976
(Houston is 15 hours behind Aust Eastern Standard time)



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