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20 Dec 2010 07:50
20 December 2010
RNS AIM release
Global Petroleum Limited - First Eagle Ford Well - 1,200 BOPD
Texon Petroleum Ltd (ASX: TXN) has advised that the first Eagle Ford well, Tyler Ranch EFS #1H, has flowed 1,267 boepd representing 1,202 bpd of light sweet crude oil and 782 mcfpd of gas with a flowing tubing pressure of 2,610 psi on a 16/64" choke. Some of the frac fluid is also still being recovered.
Global has a 7.939% working interest in the well and a beneficial interest (NRI) in the production of 5.95% or some 75 boepd of the above production.
The Company's share of oil and gas being produced from the well is now part of Global's revenue stream.
Global has a 7.939% working interest in approximately 1,651 acres beneath the Olmos formation including the Eagle Ford Shale. Global's interest in the Leighton prospect also includes a 15% working interest in approximately 873 acres from the surface down to the stratigraphic equivalent of the Olmos formation. Global already has an interest in 7 producing Olmos wells.
Glossary:
bbl: barrel
boepd: barrels of oil equivalent per day (including gas converted to oil equiv barrels on basis of 12 mcf to 1 barrel of oil equivalent)
bopd: barrels of oil per day
mcf: thousand cubic feet
mcfgpd: thousand cubic feet of gas per day
mmbtu: million British thermal units
NRI: Net Revenue Interest
psi: pounds per square inch
Enquiries:
Global Petroleum Limited | ||
Clint McGhie | Tel | + 61 8 9322 6322 |
global.info@globalpetroleum.com.au | ||
Northland Capital Partners Limited (Nominated Adviser and Broker) | ||
William Vandyk | Tel | +44 20 7492 4750 |
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