Texon Spuds New Production Well at Leighton Development
Texon Petroleum has advised that drilling of the third Leighton well, Tyler Ranch #2, commenced on August 19, 2009. The well has a planned total depth of 2,743 meters (9,000 feet) and will take about 15 days to reach its target, which is the oil and gas producing reservoir in the first two Leighton wells (Peeler #1 and Tyler Ranch #1).
The Tyler Ranch #2 well is located between the first two Leighton wells Peeler #1 and Tyler Ranch #1. Should it prove successful, the well can be tied into the gas sales pipeline and oil tanks which are 200m away within four weeks of completing the well.
Global has a 15% working interest (11.25% net revenue interest) in the Leighton Project with joint venture parties Texon Petroleum Limited (70%) and Excellong, Inc (15%).
Immediately following Tyler Ranch #2, it is planned to drill Tyler Ranch #3 which also has a planned total depth of 2,743m (9,000 ft) and this fourth well will be located 420m south of Tyler Ranch #1.
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