Texon Petroleum Ltd

The Wilcox interval currently being tested is the deepest of several Wilcox zones that have oil or gas shows in this well. Texon plans to fracture stimulate the current zone and one immediately above it as soon as a stimulation company can be scheduled.

Texon Petroleum Limited (ASX:TXN) is pleased to announce the following regarding the New Texon - Wandoo Prospect Generation Agreement.

Texon Petroleum Ltd (ASX:TXN) advises that its fourth Eagle Ford well (Hoskins EFS #1H) produced 23,780 boe (20,969 bo + 16,875 mcfg) during its first 30 days of production.

Texon Petroleum Ltd (ASX:TXN) advises that its third Eagle Ford Well, Tyler Ranch EFS #2H, has produced 38,677 bo + 31,329 mcfg over 60 days. This represents an average daily rate of 732 boepd (645 bopd + 522 mcfgpd) on the basis of 6mcf of gas converting to 1 barrel of oil equivalent.

Texon Petroleum Limited's (ASX:TXN) Wilcox well test (Hoskins No. 2 (Wilcox)) which was to have occurred this week has been delayed and is now scheduled for the middle of next week.

Texon Petroleum Limited (ASX:TXN) advises that it has appointed Houston based Albrecht & Associates to seek buyers for Texon's Olmos production and related leases. This possibility was raised in the Chairman's letter to Shareholders dated 18 August 2011.

Texon Petroleum Ltd (ASX:TXN) advises that it has acquired a further 830 acres of Eagle Ford leases at less than $2,000 per acre.

Texon Petroleum Ltd (ASX:TXN) announces that its fourth Eagle Ford well (Hoskins EFS #1H) has flowed oil and gas at the rates of 1,408 bopd and 922 mcfgpd (combined 1,562 boepd (6)) at a pressure of 3,050 psi through a 18/64" choke. This is a similar flow rate and pressure to the Company's #3 Eagle Ford well, but on a larger choke which is encouraging.

Texon Petroleum Ltd (ASX:TXN) advises that its fourth Eagle Ford well (Hoskins EFS #1H) has been successfully fracced over 16 stages using the same operational procedures as were applied to our third Eagle Ford well (Tyler Ranch EFS #2H).

Texon Petroleum Ltd (ASX:TXN) advises that during its first 30 days of production, the Company's third Eagle Ford well (Tyler Ranch EFS #2H) produced 30,400 boe (92% oil). This is some 50% more than our first Eagle Ford well (Tyler Ranch EFS #1H) which produced 19,651 boe in its first 30 days.