Second Eagle Ford Well Update

31 August 2011

RNS AIM release

Global Petroleum Limited - Second Eagle Ford Well - 1,488 BOPD

Texon Petroleum Ltd (ASX: TXN) has advised that the second Eagle Ford well in which Global has an interest (Tyler Ranch EFS #2H) has tested oil and gas at the rates of 1,488 bopd and 700 mcfgpd (combined 1,605 boepd) through a 16/64" choke at a flowing tubing pressure of 3,000 psi.

The well is located just to the north of the first Eagle Ford well (Tyler Ranch EFS #1H) which had an initial test rate of 1,200 bopd through the same sized choke. Tyler Ranch EFS #2H also has a higher flowing pressure than the first Eagle Ford well. The second Eagle Ford well has been connected for oil and gas production through the EFS #1H production facilities.

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

Enquiries:

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

psi: pounds per square inch