TEXON PETROLEUM LTD - ASX: TXN

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Description

Welcome to Texon Petroleum Ltd, an Australian-based oil and gas explorer and producer with its operations located in the Gulf Coast of Texas, USA.

TEXAS PRODUCER WITH A LOW RISK, HIGH GROWTH OIL PORTFOLIO. Texon's goal is to find commercially producible oil and gas by drilling 3D seismic controlled high equity prospects which have targets analogous to adjacent producing wells on established oil and gas producing trends in Texas.

Eagle Ford Shale (1 well producing)

Texon has assembled a position of approximately 4,500 nett acres in the heart of the Eagle Ford Shale trend in McMullen County, Texas. The Eagle ford shale is an unconventional oil /condensate rich reservoir located at a depth of approximately 10,500 to 11,500 feet and ranges in thickness from 137feet to 143 feet. Texon has approximately 60 potential drilling locations with an estimated resource potential of 34mmboe (31mmbo).

Olmos (8 wells producing)

The Olmos reservoir overlies Texon’s Eagle Ford reservoir in McMullen County at a depth of about 8,800ft. The Olmos is an oil and gas rich formation, where the gas has a high btu content attracting premium pricing. Texon drilled its first discovery well in August 2008 and now has 8 producing wells from this formation in two project areas Leighton/Sutton and Mosman/Rockingham. There remain 28 locations to drill in the Leighton/Sutton area and 45 locations in the Mosman/Rockingham area.

Yegua (3 wells producing)

Texon has 3 wells producing in Jackson County from the Yegua formation.

Mine For

oil, gas

Location of operation(s)

USA

Address

Level 9 , 46 Edward Street
BRISBANE, QLD, AUSTRALIA

Phone

(61 7) 3211 1122

Email

Website

http://www.texonpetroleum.com.au

Last Updated

19/01/2011