Second Eagle Ford Well Update

RNS Number : 9404P

Global Petroleum Ltd

11 October 2011

 



11 October 2011

RNS AIM release

Global Petroleum Limited - Second Eagle Ford Well - 30 Day Result

Texon Petroleum Limited (ASX: TXN) has advised that during its first 30 days of production, the second Eagle Ford well in which Global has an interest, Tyler Ranch EFS #2H, produced 30,400 boe (92% oil).  The first Eagle Ford well, Tyler Ranch EFS #1H, produced 19,651 boe in its first 30 days.

Global has a 7.939% working interest (5.95% NRI) in approximately 1,651 acres beneath the Olmos formation including the Eagle Ford Shale.  Global's interest in the Leighton prospect also includes a 15% working interest in approximately 873 acres from the surface down to the stratigraphic equivalent of the Olmos formation. 

Enquiries:

Global Petroleum Limited
Peter Hill	Tel	[phone]
Managing Director and CEO
Clint McGhie	Tel	[phone]
Company Secretary	Email	[e-mail]
Northland Capital Partners Limited (Nominated Adviser and Broker)
William Vandyk	Tel	[phone]

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

psi:            pounds per square inch

 

END

 

 

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