Ann: Roundhouse Prospect , page-26

tanos speak of over 9000 gross acres...

texon speaks only of 7,038 gross acres


Texon Petroleum has acquired a 50% Working interest in the Roundhouse Prospect located in Navarro County, Texas (see attached map) which encompasses 7,038 gross acres (3,519 net acres) of Cotton Valley Lime reservoir potential from private US oil and gas company Tanos Energy Holding, LLC. Tanos will remain operator with 50% working interest in the prospect

imho its a case of lack of information being forwarded to the shareholders.. even with the opportunity on the quarterly on the 31st oct, texon has failed to give an update on what i still think is a significant upgrade of more than 30% to the acreages at roundhouse..

we shall see if anything shows up one day on that..

currently one devon well is drilling into the roundhouse oil zone, and i am waiting on flow rates for the completion of a horizontal about 3 months back by NFR energy.. all they have said so far publicly was 40 bopd on the completion report, with 2200 bopd water in the IP flow for 24 hours... so interested to see how that well cleaned up

both wells are right on the same region where this roundhouse jvp sits.. so having 2 horizontal wells as a guide to the formations production capability will imho one day de risk the target, but as we all know, the market gives zero for that prospect also...