Texon Petroleum Seventh Eagle Ford Well Tested

Source: www.gulfoilandgas.com 1/18/2013, Location: North America

The Texon-Quintanilla SMEF 1H (Texon Petroleum's 7th Eagle Ford well) has tested at rates of 1,503 bopd and 1,270 mcfgpd (1,705 boepd) on a 22/64th choke with flowing tubing pressure of 2,665 psi.

The well spudded on 16 October 2012 and drilled to 16,458' MD (10,771' TVD) total depth. It was fracced with19 stages. This well is Texon's first joint venture well drilled in a project where Texon joined with offset lease owners to more efficiently develop acreage held by Texon and other parties.

Texon's gross Eagle Ford leasehold acreage in McMullen County, Texas was increased from 7,402 acres to 8,913 acres at a result of this Joint Venture project, while its net working interest acreage grew from 6,959 acres to 7,182 acres. Clifford Foss, President of Texon, said "we are pleased to announce that our first Joint Venture well has been drilled and completed for $9.0mm and has tested at 1,705 boepd. We believe this first Joint Venture well will lead to a vigorous drilling program in the near future after a production surveillance program of several months. This well will be put on production immediately as all facilities are ready for final installation to the well. The 8th Eagle Ford well, the Texon-Hoskins 4H, is prepped and ready for fraccing operations to begin in the first week of February after refilling our frac pond in late January."

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