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First Eagle Ford Well Update

11 Oct 2010 07:40

RNS Number : 1541U

Global Petroleum Ltd

11 October 2010

RNS AIM release

GOOD OIL AND GAS SHOWS AT FIRST EAGLE FORD HORIZONTAL WELL

Texon Petroleum Ltd (ASX: TXN) has advised that the Tyler Ranch EFS #1H well has drilled into the Eagle Ford Shale at the depth of 3,252m (10,670ft) and has encountered good oil and gas shows.

The well will now drill 1,372m (4,500ft) laterally within the Eagle Ford at which time production casing will be run. Drilling and casing the well are anticipated to take 12 -14 days.

Hydraulic fracture stimulation and testing of the well are scheduled for early November.

Global has a 7.939% working interest (5.95% NRI) in the well.

Enquiries:

Global Petroleum Limited
Clint McGhie	Tel	+ 61 8 9322 6322
	Email	global.info@globalpetroleum.com.au
Astaire Securities Plc (Nominated Adviser and Broker)
William Vandyk	Tel	+44 20 7492 4750

This information is provided by RNS

The company news service from the London Stock Exchange

END

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