Second Eagle Ford Well Update

RNS Number : 3900P

Global Petroleum Ltd

03 October 2011

 



3 October 2011

RNS AIM release

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

Texon Petroleum Limited (ASX: TXN) has advised that the 30 day production information (i.e. 30 days since stabilised flow was established after the Initial Production test) for the second Eagle Ford well in which Global has an interest, Tyler Ranch EFS #2H, will be available next week.

In its first 17 days of production, the well produced 21,000 boe (94% oil), slightly more than the first Eagle Ford well (Tyler Ranch EFS #1H) produced in its first 30 days (19,651 boe).

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

 

 

DRLEAKEDEASFFEF