Global Petroleum says that on 11 October 2011, a 30 day average rate of 1,000 boepd was reported for the second Eagle Ford well. Texon have advised that the corrected 30 day average rate for Tyler Ranch EFS #2H is 817 boepd, with the oil rate still being significantly better than the first Eagle Ford well over its first 30 days.

The cause of the discrepancy was a faulty oil meter which for seven days was reading above the actual rate - now determined on the basis of oil tanker off-take volumes from the well site. On-site personnel changed the meter but continued to report the prior incorrect daily oil readings for the previous seven days and this resulted in reporting the wrong 30 day average.

Texon advise that oil and gas measurement systems and procedures for both of the Eagle Ford wells in which Global has an interest have been checked by an experienced production engineer and are in good order.

Global has a 7.939% working interest in approximately 1,651 acres beneath the Olmos formation including the Eagle Ford Shale.

Tags: Global Petroleum