Second Eagle Ford Well Update

RNS Number : 1574F
Global Petroleum Ltd
19 April 2011
 



19 April 2011

RNS AIM release

 

Global Petroleum Limited - Second Eagle Ford Well - Rig Secured

 

 

Texon Petroleum Ltd (ASX: TXN) has advised that it has secured a rig for Tyler Ranch EFS #2H, the second Eagle Ford horizontal well in which Global Petroleum Limited ("Global") has an interest.

 

Tyler Ranch EFS #2H is located immediately north of the first Eagle Ford well ("Tyler Ranch EFS #1H"). The first Eagle Ford well had an initial production rate of 1,200 bopd and has produced 51,719 bo and 66.9 mmcfg or 62,866 boe in the past 120 days. Tyler Ranch EFS #2H is expected to begin drilling in mid May and take 30 days to drill.

 

Global has a 7.939% working interest (5.95% NRI) in Tyler Ranch EFS #1H and Tyler Ranch EFS #2H. A successful Eagle Ford well will be able to use the tanks and other production facilities already in place for the first Eagle Ford well.

 

The fraccing and testing for Tyler Ranch EFS #2H is scheduled for August.

 

Enquiries:

 

Global Petroleum Limited

Clint McGhie

Tel

+ 61 8 9322 6322

Email

global.info@globalpetroleum.com.au

Northland Capital Partners Limited (Nominated Adviser and Broker)

William Vandyk

Tel

+44 20 7796 8800

Charles Vaughan

 

 

Glossary:

bbl:            barrel

bo:             barrels of oil

boe:           barrels of oil equivalent

boepd:       barrels of oil equivalent per day (including gas converted to oil equiv barrels on basis of 6 mcf to 1 barrel of oil equivalent)

bopd:         barrels of oil per day

mcf:           thousand cubic feet

mcfg:         thousand cubic feet of gas

mmcfg:      million cubic feet of gas

mcfgpd:     thousand cubic feet of gas per day

mmbtu:      million British thermal units

NRI:           Net Revenue Interest

 

 

 

 


This information is provided by RNS
The company news service from the London Stock Exchange
 
END
 
 
DRLEAKLNFASFEEF
UK 100