7th Sep 2009 07:23
7 September 2009
RNS AIM release
DRILLING COMMENCES ON FOURTH PRODUCTION WELL - LEIGHTON OIL AND GAS FIELD
Texon Petroleum Ltd (ASX: TXN) has advised that the fourth Leighton well, Tyler Ranch #3, commenced drilling on 5 September 2009. The well has a planned total depth of 2,743 metres (9,000 feet) and will take about 12-15 days to reach its target, which is the same oil and gas reservoir as in the first three Leighton wells (Peeler #1, Tyler Ranch #1 and Tyler Ranch #2).
Tyler Ranch #3 is located 420 metres south of Tyler Ranch #1.
Global has a 15% working interest (11.25% net revenue interest) in the Leighton Project with joint venture parties Texon Petroleum Limited (70%) and Excellong, Inc (15%).
Testing of the recently drilled Tyler Ranch #2 is planned for Wednesday, 9 September 2009. If the test is successful, the well will be placed on production as soon as testing has been concluded - probably by mid September.
Enquiries:
|
Global Petroleum Limited |
||
|
Shane Cranswick |
Tel |
+ 61 8 9322 6322 |
|
|
||
|
Astaire Securities Plc (Nominated Adviser and Broker) |
||
|
William Vandyk |
Tel |
+44 20 7448 4400 |
Related Shares:
Global Petroleum