Project Update

RNS Number : 7315Q

Global Petroleum Ltd

17 April 2009

 



17 April 2009

RNS AIM release

SECOND LEIGHTON WELL (TYLER RANCH #1) FLOWS OIL AND GAS - 420 BOEPD

Global Petroleum Limited ('Global' or 'the Company') is pleased to announce that Texon Petroleum Limited (ASX: TXN) have advised that the second well on the Leighton Prospect, Tyler Ranch #1, is flowing oil and gas at the rate of approximately 420 boepd comprising some 260 bopd and 950 mcf of gas per day through a 10/64' choke, at a flowing pressure at the surface of about 2,900 psi. This is a smaller choke than used at the first Leighton well ('Peeler #1') which flowed about 400 boepd through a 16/64' choke at 1,500psi and this indicates that Tyler Ranch #1 is performing better than Peeler #1.

Tyler Ranch #1 is already 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 Tyler Ranch #1.

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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