Second Eagle Ford Well Update

RNS Number : 1163O

Global Petroleum Ltd

13 September 2011

 



13 September 2011

RNS AIM release

Global Petroleum Limited - Second Eagle Ford Well - Production Information

On 31 August 2011, the Company advised that the second Eagle Ford well in which it has an interest (Tyler Ranch EFS #2H) had flowed at the rates of 1,488 bopd and 700 mcfgpd (combined 1,605 boepd) through a 16/64" choke at a pressure of 3,000 psi.

Texon Petroleum Limited (ASX: TXN) has now advised that the well has been choked back, which typically results in a reduction in production, however, over the past 24 hours on a reduced 9/64" choke and at a pressure of 3,700 psi, the well has flowed at a rate of 1,786 bopd with 322 mcfgpd - an overall rate of 1,840 boepd.

30 day production results will be announced in a few weeks time.

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 Northland Capital Partners Limited (Nominated Adviser and Broker)	Email	[e-mail]
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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