Texon continues shallow gas program

TEXON Petroleum has started drilling the fifth well, Duranbah-1, in its 2008 South Texas shallow gas program.

Spudded on Tuesday, the well is targeting between 3.2-4 billion cubic feet gross gas resources and has a planned total depth of 2073m.

Texon has a 95% working interest in Duranbah-1 and will have 71.25% net revenue interest if the well is successful.

After Duranbah-1 is drilled, Texon plans to drill two further wells in its 3-well program.

Once the three wells are drilled, Texon will review the production performance of the wells to assess the next shallow program for the company.

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