Leighton Update

RNS Number : 8263P

Global Petroleum Ltd

23 July 2010

 



23 July 2010

RNS AIM release

DRILLING TO COMMENCE ON SEVENTH LEIGHTON DEVELOPMENT WELL

Texon Petroleum Ltd (ASX: TXN) has advised that the seventh Leighton well, Tyler Ranch #6, is scheduled to begin drilling next week.  The well has a planned total depth of 2,743 metres (9,000 feet) and will take about 15 days to drill.  The well will penetrate the Olmos reservoir at approximately 2,706 metres (8,880 feet), which is the same oil and gas reservoir as is producing in the first six (6) Leighton wells (Peeler #1, Tyler Ranch #1, #2, #3, #4 and #5).  Tyler Ranch #6 is located 366 metres west of Tyler Ranch #3.

If the wire line electric logs indicate producible oil and gas in the Olmos reservoir, the well will be completed as the seventh oil and gas producer from this zone.

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

Enquiries:

Global Petroleum Limited
Clint McGhie	Tel	+ 61 8 9322 6322
	Email	[e-mail]
Astaire Securities Plc (Nominated Adviser and Broker)
William Vandyk / Charles Vaughan	Tel	[phone]

 

END

 

 

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