Leighton Olmos Well Flows Oil & Gas

RNS Number : 5620E

Global Petroleum Ltd

08 April 2011

 



8 April 2011

Global Petroleum Limited

Leighton Olmos Well Flows Oil and Gas 252 BOEPD

Texon Petroleum Ltd (ASX: TXN) has advised that that the eighth Leighton Olmos well in which Global has an interest, Peeler #2, has begun to flow oil and gas at the gross rate of 252 boepd from the Olmos reservoir (comprising 192 bopd and 360 mcf of gas per day).

Texon advise that Peeler #2 will be connected to oil tanks and a gas sales pipeline in the next two weeks.

Global has a 15% working interest (11.25% net revenue interest) in the well.

Enquiries:

Global Petroleum Limited
Clint McGhie	Tel:	+ 61 8 9322 6322
	Email	[e-mail]
Northland Capital Partners Limited (Nominated Adviser and Broker)
William Vandyk / Luke Cairns Charles Vaughan (Broking)	Tel:	[phone]

Glossary:

bbl:                  barrel

boepd:             barrels of oil equivalent per day (including gas converted to oil equiv barrels on basis of 6 mcf to 1 barrel of oil equiv)

bopd:               barrels of oil per day

mcf:                 thousand cubic feet

 

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