Leighton Update

RNS Number : 6036K

Global Petroleum Ltd

22 April 2010

 



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:

Global Petroleum Limited
Shane Cranswick	Tel	+ 61 8 9322 6322
	Email	[e-mail]
Astaire Securities Plc (Nominated Adviser and Broker)
William Vandyk	Tel	[phone]

 

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