Leighton Update

RNS Number : 5504S

Global Petroleum Ltd

13 September 2010

 



13 September 2010

RNS AIM release

SEVENTH LEIGHTON WELL FLOWS OIL AND GAS 350 BOEPD

Texon Petroleum Ltd (ASX: TXN) has advised that that the seventh well on the Leighton Project, Tyler Ranch #6, has begun to flow oil and gas at the gross rate of 350 boepd from the Olmos reservoir (comprising 205 bopd and 880 mcf of gas per day) through a 10/64" choke at 2000 psi.

Tyler Ranch #6 has been connected to oil tanks and a gas sales pipeline so that Global will now begin to obtain revenue from the production. 

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

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

mmbtu:      million British thermal units

psi:            pounds per square inch

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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