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22 Apr 2010 07:38
22 April 2010
RNS AIM release
SIXTH LEIGHTON PRODUCTION WELL SUCCESSFUL
Texon Petroleum Ltd (ASX: TXN) has advised that the sixth Leighton well, Tyler Ranch #5 ("TR#5"), has reached its total depth of 2,743 metres (9,000 feet). This is the sixth well in the Leighton oil and gas field - all of which have been successful.
The targeted Olmos reservoir in TR#5 has a thickness similar to the Olmos in the previous five (5) Leighton wells and has similar reservoir characteristics. It is now planned to run production casing in the well after which the well will be fracture stimulated (in the next 10-14 days) and then will be connected for oil and gas production.
Global has a 15% working interest (11.25% net revenue interest) in the Leighton Project with joint venture parties Texon Petroleum Limited and Excellong, Inc.
Glossary:
bbl: barrel
mcf: thousand cubic feet
mmboe: million barrels of oil equivalent (including gas converted to oil equivalent barrels on basis of 6mcf to 1 barrel of oil equivalent)
mmbtu: million British thermal units
Enquiries:
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Global Petroleum Limited |
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Shane Cranswick |
Tel |
+ 61 8 9322 6322 |
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global.info@globalpetroleum.com.au |
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Astaire Securities Plc (Nominated Adviser and Broker) |
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|
William Vandyk |
Tel |
+44 20 7448 4400 |
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