Project Update

RNS Number : 8084O

Global Petroleum Ltd

13 March 2009

 



13 March 2009

RNS AIM release

SECOND LEIGHTON WELL DRILLING RESULT

Global Petroleum Limited ('Global' or 'the Company') is pleased to announce that Texon Petroleum Limited (ASX: TXN) have advised that drilling of the second Leighton oil and gas well, Tyler Ranch #1, has reached a total depth of 2,743 metres (9,000 feet) after intersecting the target sand. Wire line electric logs indicate a potential oil and gas bearing formation at 2,696 metres (8,845 feet) with a thickness of 10 metres (34 feet). This is slightly thicker than the oil and gas bearing interval (7.5m (25ft)) in the first Leighton well, Peeler #1.

Production casing will now be run in preparation for testing this zone in the next two to four weeks with separate testing equipment. Texon has begun to source production equipment so that if this test is successful, the well can be placed on production as soon as possible after testing has been concluded.

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

Enquiries:

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

 

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