Texon Petroleum has advised that the sixth Leighton well, Tyler Ranch #5 ("TR#5"), has reached its total depth of 2,743 meters (9,000 feet). This is the sixth well in the Leighton oil and gas field - all of which have been successful.
The targeted Olmos reservoir in TR#5 has a thickness similar to the Olmos in the previous five (5) Leighton wells and has similar reservoir characteristics. It is now planned to run production casing in the well after which the well will be fracture stimulated (in the next 10-14 days) and then will be connected for oil and gas production.
Global has a 15% working interest (11.25% net revenue interest) in the Leighton Project with joint venture parties Texon Petroleum Limited and Excellong, Inc.
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