Leighton Update

RNS Number : 1100R

Global Petroleum Ltd

16 August 2010

 



16 August 2010

RNS AIM release

SEVENTH LEIGHTON PRODUCTION WELL SUCCESSFUL

Texon Petroleum Ltd (ASX: TXN) has advised that Tyler Ranch #6 ("TR#6"), has reached its total depth of 2,774 metres (9,100 feet). This is the seventh well in the Leighton oil and gas field - all of which have been successful.

The targeted Olmos reservoir in TR#6 has a thickness similar to the Olmos in the previous six (6) 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 15-20 days) and then will be connected for oil and gas production.

Global has a 15% working interest (11.25% net revenue interest) in 830.4 acres of Olmos reservoir at the Leighton Project.

Enquiries:

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

 

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