Texon Bumps Production Rates at 2nd Eagle Ford Well

On August 31, 2011, Global Petroleum 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 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.

Thirty 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.