Talon Petroleum Limited (ASX:TPD) Roundhouse Initial Test Well Commences

Talon Petroleum Limited (ASX:TPD) advises that as indicated in its announcement on 30 May 2013, the Roundhouse Prospect proof of concept well (Bonner 1H) began operations on 31 May 2013. The well as at 6 June was at 2,750 feet.

The Bonner 1H well is expected to reach a total measured depth of 15,075 feet (9,550 TVD) in approximately 23 days after which it will be fracced and tested.

The well plan is for a 5,100 foot horizontal lateral having 10-12 frac stages in the Cotton Valley Lime interval. This area is on-trend with and adjacent to the Cheneyboro field which has produced 5.7mmboe to date with approximately 80,000 barrels of oil from vertical wells surrounding the Bonner 1H well. This is illustrated on the map below.

Talon holds a 24.25% WI in the Bonner 1H and the surrounding 600 acres which is being operated by O'Brien Energy (O'Benco), a private oil and gas operator located in Shreveport, Louisiana who retains a 75% WI. If the Bonner 1H is successful there is adequate acreage within the 600 acres to accommodate additional drilling. Talon now holds approximately 7264 net acres in the Roundhouse prospect area.

President and CEO Clifford S. Foss said "We are excited that the first Talon oil prospect is being tested so quickly after our recent demerger from Texon Petroleum in early March 2013." Talon estimates the potential resource to the company could possibly be as high as 10-15mmboe if the company's acreage position was eventually developed on 160 acre spacing.

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About Talon Petroleum Limited

Talon Petroleum (ASX:TPD) is a Texas and Gulf Coast focussed exploration and appraisal company. The company strategy is focussed on low risk, liquids rich prospects in mature, well serviced areas. Talon expects to add value through utilising modern drilling and fracture stimulation technologies.

 

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