TXN - Texon Petroleum
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At today's close Buyers outnumbered Sellers by approx 3:1...But my last trades information reads "No trades today" (3/2/11). Is this correct?
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Thanks! This is what's listed at close:
* Buyers *638,994 (0.77c)
* Sellers *248,226 (0.78c)
Another very basic way to value it is peer comparison. 3p reserves currently at 82mmboe. AUT Mcap approx $1.2B. = approx $14per boe in ground.
TXN = 2.25mmboe with mcap 137M = approx $60 per boe
EKA = 5mmboe with 90M mcap = $18 per boe in ground
Clearly these numbers are a little rubbery, as moost these reserves will be rapidly expanding as the company drills more wells and derisk, thier acerage.
TXN = 2.25mmboe with mcap 137M = approx $60 per boe
EKA = 5mmboe with 90M mcap = $18 per boe in ground
Clearly these numbers are a little rubbery, as moost these reserves will be rapidly expanding as the company drills more wells and derisk, thier acerage.
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Valuation and target price – increasing both (again)
Should the test of Teal EFS #1H prove successful, Texon's WI in the EFS in Leighton-
Mosman-Rockingham-Sutton has potential for 30-34mmboe of resource. At US$5.00/bbl, and risked to 75% this equates to approximately A$0.70/TXN share. For the Olmos reservoir, there are 24 further Proven and Probable undeveloped locations to be drilled with certified 2P reserves attributable to Texon’s WI totalling 2.9mmboe at Leighton. Our valuation from production is A$0.32/TXN share. The Olmos reservoir in Mosman-Rockingham, other leased targets and the Seitel agreement offers further upside potential.
Valuation and risks
Our risked valuation of TXN shares has risen to A$1.16/share (from A$1.05/share) with the successful production test of the first horizontal EFS well. There is material upside to this valuation should the second EFS well prove to be liquids-rich, and should exploration success in the Olmos reservoir match Texon’s recent experience. Success in the high-upside gas plays such as Maroubra would also be expected to have a positive effect on share price. Texon is adequately funded for its next phase of drilling. The risks relate to exploration success, prospect size, and the oil and gas prices in the US, as well as the AUD/USD exchange rate.
the teal ranch efs 1h should be fracced in march 2011.. approx 30+ days
something well and truly not being discussed but mentioned in the quarterly:
Should the fracture stimulation of the Teal EFS #1H prove successful this combined with the successful Tyler Ranch EFS#1H should result in some 15 proved and probable well locations. The reserves attributable to these locations will be assessed by independent reserve engineers in the coming weeks.
Should the test of Teal EFS #1H prove successful, Texon's WI in the EFS in Leighton-
Mosman-Rockingham-Sutton has potential for 30-34mmboe of resource. At US$5.00/bbl, and risked to 75% this equates to approximately A$0.70/TXN share. For the Olmos reservoir, there are 24 further Proven and Probable undeveloped locations to be drilled with certified 2P reserves attributable to Texon’s WI totalling 2.9mmboe at Leighton. Our valuation from production is A$0.32/TXN share. The Olmos reservoir in Mosman-Rockingham, other leased targets and the Seitel agreement offers further upside potential.
Valuation and risks
Our risked valuation of TXN shares has risen to A$1.16/share (from A$1.05/share) with the successful production test of the first horizontal EFS well. There is material upside to this valuation should the second EFS well prove to be liquids-rich, and should exploration success in the Olmos reservoir match Texon’s recent experience. Success in the high-upside gas plays such as Maroubra would also be expected to have a positive effect on share price. Texon is adequately funded for its next phase of drilling. The risks relate to exploration success, prospect size, and the oil and gas prices in the US, as well as the AUD/USD exchange rate.
the teal ranch efs 1h should be fracced in march 2011.. approx 30+ days
something well and truly not being discussed but mentioned in the quarterly:
Should the fracture stimulation of the Teal EFS #1H prove successful this combined with the successful Tyler Ranch EFS#1H should result in some 15 proved and probable well locations. The reserves attributable to these locations will be assessed by independent reserve engineers in the coming weeks.
Huntley's Recommendation has key measures for these companies as follow
Value Risk Growth Income
AUT 4 4 3 5
SEA 3 3 2 5
TXN N/R 3 1 5
EKA 1 3 1 5
SSN 3 3 3 5
With one analyst having both EKA & TXN as a strong buy.
EKA on that looks the best value and growth along with TXN.
Value Risk Growth Income
AUT 4 4 3 5
SEA 3 3 2 5
TXN N/R 3 1 5
EKA 1 3 1 5
SSN 3 3 3 5
With one analyst having both EKA & TXN as a strong buy.
EKA on that looks the best value and growth along with TXN.
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Texon just jumped 10c here today !! Perhaps the good news from ASX trades is just now catching up, or bigger things are in the works. After reading the Appendix 3B from their website one could speculate they are planning big things soon.
DYOR and this is IMHO but I think Texon will prove to be another successful choice for me.
:
DYOR and this is IMHO but I think Texon will prove to be another successful choice for me.
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What is the key? Considering they are all rated 5 for income, one can assume it means 5/5 stars.
If EKA is rated 1 for "Value" doesn't this mean, it's poor?
Please clarify.
No the opposite. One rated being the highest value for the sp. 5 being lowest 3 being average. For example Huntley's key measures on BHP have a Value of 4 (which is below average) Risk at a 2 (which also below average) Growth of 3 (average) and income of 4 (below average)
So in that case BHP is less riskier than the likes of TXN & EKA but EKA & TXN growth potential & value are at a higher level. Another words scope for more improvement but riskier!!! Ideally four ones would be nice.
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texon just recently listed a business plan for 2011
imho if your in the share its a great read
i know there is a roadshow in texas right now, may see some growing interest in the share being generated as the visitors report back.
starting to see some activity yesterday, imho the climb to $1.16 is on the way.. the research notes recently did not account for the olmos wells about to frac next month nor the next efs well also due for production in march.
it appears the value is being understood more broadly.
best of luck to all investors
imho if your in the share its a great read
i know there is a roadshow in texas right now, may see some growing interest in the share being generated as the visitors report back.
starting to see some activity yesterday, imho the climb to $1.16 is on the way.. the research notes recently did not account for the olmos wells about to frac next month nor the next efs well also due for production in march.
it appears the value is being understood more broadly.
best of luck to all investors
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The business plan was def. an enjoyable read. It is very good to hear that plans are moving forward in Texas.
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The business plan was def. an enjoyable read. It is very good to hear that plans are moving forward in Texas.
i'll second that
the petrohawk presentation was interesting to say the least
dramatic turnarounds in the wells sees them keepin all rigs on the hawkville field in lasalle and mcmullen
and by dramatic i mean staggering
they have the frac nailed in the hawkville field bigtime
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I actually foudn the production graphics quiet interesting - Q2 2011 has their ave boepd eclipsing SEA by some margin, with a market cap about 50% of SEA.
Now I know SEA have an extremely clever management team and are looking at a daily production of 2,000 boepd by end of Dec 11, but with the potential reserve upgrades is this disparity justified?
Now I know SEA have an extremely clever management team and are looking at a daily production of 2,000 boepd by end of Dec 11, but with the potential reserve upgrades is this disparity justified?
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i can post that slide up if you like...
the conocophillips attention to the EFS is now public knowledge, after years of hounding everyone (including me) to keep it all quiet, the project gets mentioned in slides and actually gets a slide dedicated to it
texon bookends the COP sugarkane acreages
the conocophillips attention to the EFS is now public knowledge, after years of hounding everyone (including me) to keep it all quiet, the project gets mentioned in slides and actually gets a slide dedicated to it
texon bookends the COP sugarkane acreages
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those whom know me also know i like to do a lot of research.. the efs is where i like to invest
regionally there is a lot of activity
operators in the sugarkane, hawkvillle and north on trend in
the oil zones, these wells are all eagleford wetgas and oil
names like exxon, pioneer, petrohawk, murphy, talisman, swift,
EOG, comstock, chesapeake... TEXON
regionally there is a lot of activity
operators in the sugarkane, hawkvillle and north on trend in
the oil zones, these wells are all eagleford wetgas and oil
names like exxon, pioneer, petrohawk, murphy, talisman, swift,
EOG, comstock, chesapeake... TEXON
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a few spring to mind that i keep tabs on
bcc mentions interest in the play..
gbp have holdings in the efs
akk, is in dimmitt, they have an open hole austin chalks well flowing but imho you have to look at the efs there also for this share, i think the very short lateral has flowed about 10,000 bo so far to dec
bcc mentions interest in the play..
gbp have holdings in the efs
akk, is in dimmitt, they have an open hole austin chalks well flowing but imho you have to look at the efs there also for this share, i think the very short lateral has flowed about 10,000 bo so far to dec
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Excellent weekly close above the maximum of 2007.
Now momentum slowed, but we are in uptrend.
Daily Chart.
Now momentum slowed, but we are in uptrend.
Daily Chart.
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14 February 2011
4 WELLS
MARCH 2011 TESTING
Eagle Ford
Texon advises that the fracture stimulation and testing of its second Eagle Ford well are scheduled to begin in the first week of March. The fracture stimulation work will take about two weeks after which the well will be production tested. A gas pipeline is being laid to the well so production will be able to begin immediately.
Texon has a 100% WI (75% NRI) in this well.
Olmos
Upon completion of the above project, the contractor will fracture stimulate the three (3) Olmos production wells referred to in the Company’s release of 19th January this year. Each well will take one (1) day for the frac work. The wells will be placed in production when the fracture stimulation and testing are completed.
Texon has an average 70% WI (52.5% NRI) in these 3 wells.
Production
During the second quarter of this year, it is expected that the above four (4) wells, if successful will contribute a combined average of 600 boepd to the Company’s production.
4 WELLS
MARCH 2011 TESTING
Eagle Ford
Texon advises that the fracture stimulation and testing of its second Eagle Ford well are scheduled to begin in the first week of March. The fracture stimulation work will take about two weeks after which the well will be production tested. A gas pipeline is being laid to the well so production will be able to begin immediately.
Texon has a 100% WI (75% NRI) in this well.
Olmos
Upon completion of the above project, the contractor will fracture stimulate the three (3) Olmos production wells referred to in the Company’s release of 19th January this year. Each well will take one (1) day for the frac work. The wells will be placed in production when the fracture stimulation and testing are completed.
Texon has an average 70% WI (52.5% NRI) in these 3 wells.
Production
During the second quarter of this year, it is expected that the above four (4) wells, if successful will contribute a combined average of 600 boepd to the Company’s production.
