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19 Apr 2011 07:27
19 April 2011
RNS AIM release
Global Petroleum Limited - Second Eagle Ford Well - Rig Secured
Texon Petroleum Ltd (ASX: TXN) has advised that it has secured a rig for Tyler Ranch EFS #2H, the second Eagle Ford horizontal well in which Global Petroleum Limited ("Global") has an interest.
Tyler Ranch EFS #2H is located immediately north of the first Eagle Ford well ("Tyler Ranch EFS #1H"). The first Eagle Ford well had an initial production rate of 1,200 bopd and has produced 51,719 bo and 66.9 mmcfg or 62,866 boe in the past 120 days. Tyler Ranch EFS #2H is expected to begin drilling in mid May and take 30 days to drill.
Global has a 7.939% working interest (5.95% NRI) in Tyler Ranch EFS #1H and Tyler Ranch EFS #2H. A successful Eagle Ford well will be able to use the tanks and other production facilities already in place for the first Eagle Ford well.
The fraccing and testing for Tyler Ranch EFS #2H is scheduled for August.
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 7796 8800 |
Charles Vaughan | ||
Glossary:
bbl: barrel
bo: barrels of oil
boe: barrels of oil equivalent
boepd: barrels of oil equivalent per day (including gas converted to oil equiv barrels on basis of 6 mcf to 1 barrel of oil equivalent)
bopd: barrels of oil per day
mcf: thousand cubic feet
mcfg: thousand cubic feet of gas
mmcfg: million cubic feet of gas
mcfgpd: thousand cubic feet of gas per day
mmbtu: million British thermal units
NRI: Net Revenue Interest
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