Talon Petroleum Limited is an Australia-based exploration and appraisal company. The principal activity of the Company is to develop and produce petroleum resources in the United States. The Company operates through the petroleum exploration and production industry segment. The Company's principal asset is its Mosman Rockingham (MR) Olmos Project, which is located in McMullen County, Texas. The project consists of approximately 3,600 acres. The target reservoir is the Olmos tight sandstone. The Company operates approximately one MR Olmos horizontal producing well (Quintanilla OL-1H, working interest 10%), and over two vertical producing wells (approximately 95% working interest).