17th Apr 2009 07:00
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:
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Global Petroleum Limited |
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Shane Cranswick |
Tel |
+ 61 8 9322 6322 |
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Blue Oar Securities Plc (Nominated Adviser and Broker) |
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William Vandyk/Olly Cairns |
Tel |
+44 20 7448 4400 +61 8 6430 1630 |
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