Sign In
18 Nov 2009 07:24
18 November 2009
RNS AIM release
FIFTH LEIGHTON WELL FLOWS OIL AND GAS AT 480 BOEPD
Texon Petroleum Ltd (ASX: TXN) has advised 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.
Global has a 15% working interest (11.25% net revenue interest) in the Leighton Project with joint venture parties Texon Petroleum Limited (70%) and Excellong, Inc (15%).
Latest oil and gas futures prices (Source: NYMEX December 2009 contracts)
Oil: US$ 79/bbl
Gas: US$ 4.50/mmbtu
Glossary:
bbl: barrels
boepd: barrels of oil equivalent per day
bopd: barrels of oil per day
mcfgpd: thousand cubic feet of gas per day
mmbtu: million British thermal units
psi: pounds per square inch
Enquiries:
|
Global Petroleum Limited |
||
|
Shane Cranswick |
Tel |
+ 61 8 9322 6322 |
|
|
global.info@globalpetroleum.com.au |
|
|
Astaire Securities Plc (Nominated Adviser and Broker) |
||
|
William Vandyk |
Tel |
+44 20 7448 4400 |
Follow the stocks
