TXN - Texon Petroleum

[Sharejon]

Agent,

I do agree with what you've said, however

the San Miguel flowed at 775 bop/d and 1100 mcfpd, resulting in 867 boep/d using a 12:1 ratio, whilst Tyler Ranch flowed at 1202 bop/d and 782 mcfp/d, resulting in 1267 boep/d using a 12:1 ratio. (TXN used 12:1 back in their first announcement).

Tyler Ranch (on a restricted choke) initially flowed at a rate almost 50% higher than the San Miguel. Whilst it is great that Tyler Ranch had such great initial flows, the fact that it's 30 day average was in line with San Miguel is a disappointment.

Obviously fantastic declines shouldn't have been expected from TXN's first eagleford well, but the 30 day results (considering the IP) were disappointing.

As for the 60 day results, they were fantastic (considering the 30 day average).

All i'm trying to say is that the 30 day averages were disappointing considering the IP. Happy to leave it in the past though, as these 60 day figures shine the well in a much greater light.

Cheers.

 

[donteatme]

http://www.oilbarrel.com/nc/news/di...ks-to-drive-up-q2-production-numbers/860.html

Sounding good

 

[starman45]

Good is the reaction of the price on support 0.75ish.
Daily chart.

 

[Magic Man]

I own this stock but to me its looking like a dog. Opened at 77.5 to 80 then just as quick back to 75. The market isnt engaging this one yet.

 

[Assasin]

I own this stock but to me its looking like a dog. Opened at 77.5 to 80 then just as quick back to 75. The market isnt engaging this one yet.

Whoe! Magic, what are you saying? Never knock your stock with talk like that.
If thats what you really think then question your own decission to buy in the first place.
Unless your just searching for a reaction?

I wish I had more money to buy more.

 

[bennywizard]

Magic, did you read this? http://www.oilbarrel.com/nc/news/dis...mbers/860.html

It was already posted here but worth reading if you haven't already...Most oil stocks were down today and for the whole week largely IMO as oil prices have been lower all week, but TXN has just released a great 60 day flow result and they have a number of new wells to report on in the very near future so I'm happy and topped up yesterday and again today.
If you are buying as a day trader that's one thing, I'm not a chartest or a day trader but if you are buying because of the fundamentals then don't be so worried about the day to day ups and downs, watch for the important announcements and make your decisions accordingly.

 

[starman45]

This week: pressure from the sellers.
But we need more strength because the stock is in uptrend.

Daily chart.

 

[estseon]

Posted by 'benamara" on ADFVN 98590 on EME thread today

http://www.financialsense.com/contributors/bill-powers/wti-versus-brent?q=node/4067

Last paragraph

"Despite the all of the evidence that today’s natural gas prices are unsustainable in relation to oil or coal, many of today’s biggest gas traders are still betting big that the recent jump in prices to $4.75 per mcf on the NYMEX was just a fluke. No natural gas futures contract on the NYMEX trades over $5.00 until January 2012. While shorting natural gas has been a very profitable strategy over the past two years, and a very popular one as well, I believe the fundamentals of natural gas will soon get the long awaited rally in natural gas started. When shorts start covering we will see a spectacular rally in natural gas. There are many great ways to participate in the bull market for natural gas such as the several gas-weighted equities in my newsletter Model Portfolio as well as several commodity ETFs."

 

[condog]

Announcnt out re Gas shows in the Wilcox

Nothing to sneeze at with a potential 39mmboe gas and 0.45 mmboe oil.

Texon advises that it has had encouragement from a log analysis by NuTech of the Wilcox Formation in one of its recent wells. The NuTech analysis indicates pay in the interval where oil and gas shows were observed during drilling.
The Company has requested NuTech to analyse the Wilcox in all of its nearby wells to establish the extent of this potential Wilcox pay. This work is expected to be finalised in the coming weeks.
Wells nearby have produced oil from the Wilcox.
When the NuTech data are available, the Company will assess whether the forward work programme should include wells to test the productivity of the Wilcox.

Still obviously production testing needed, but in any case it adds value to the balnce sheet and potential reserves.

 

[Agentm]

Announcnt out re Gas shows in the Wilcox

Nothing to sneeze at with a potential 39mmboe gas and 0.45 mmboe oil.


Still obviously production testing needed, but in any case it adds value to the balnce sheet and potential reserves.

Potential 6mmbbl OIP

Possibly drill, frac, test one vertical well Q2/11

its all been planned for next quarter.

 

[condog]

Potential 6mmbbl OIP

Possibly drill, frac, test one vertical well Q2/11

its all been planned for next quarter.

Yeh i read that , but saw this, so which one is correct.

 

[Agentm]

on slide 55 and 56 they give a bit of insight..

its very much a play thats producing within 3000 or so feet of the latest efs well the teal ranch efs 1h..

 

[estseon]

OGG

It's not 100% clear to me either but if you look at slide 11 of the business plan, you will see that the prospects are split between "A" and "B" projects. The slides following dealing with the "A" projects (19 - 35), the EFS and Olmos LMRS leases, have an "A" heading. LMRS Wilcox can be seen on slide 34. 6mmboe in place and 15% recovery anticipated (Supplementary slide 8) and 50% WI.

You will see that the "B" projects have a aggregate reserve estimate of 39 mmboe. The "B" projects are identified on slide 36 and there is information about them on the slides following. It would seem that the "B" projects are Wilcox sand reservoirs but don't hold me to it.

Hope that this helps.

 

[condog]

Cheers esteon. It appears to me they hope to prove a probable 6mmboe and a hopefull/wishful target of 39mmboe for the prospect. ?? very ambiguous.

Oil future prices up 5-6% overnight on concerns in Lybia and Iran. A tribal leader in the oil producing region has vowed to halt oil exports if the violence continues in Lybia.

 

[Agentm]

estseon

6000 - 7400 is the wilcox

the slide is 100% correct, and the 15% recovery of the OIP is 0.9 mmbbl

we have to wait for a little while for txn to settle in..my view is that in a week or 2 things will be extremely positive for texon and i can this one flying to new highs

happily adding as i can

 

[philly]

TXN in a trading halt this morning pending an announcement regarding a capital raising

 

[Magic Man]

is this a good or a bad thing at this point in time for TXn and holders?

 

[Mofra]

is this a good or a bad thing at this point in time for TXn and holders?

ST presure on the SP, normally dips down to the issue price - I've had great success with Cap Raisings in the past though (SEA the most recent example, missed the boat on LYC which would have been profitable).
If it provides working capital that takes a junior player from starting production to cashflow positive it can be lucrative in the MT/LT. Perhaps this is related to Wilcox announcement and TXN are looking at accelerating the drilling program here?

Purpose of capital is usually spelled out in the offer document.

 

[Kremmen]

This makes sense of the SP drifting downwards on good news. I wonder who knew of the cap raising, as that seems the more likely reason to me.

 

[geelongfan]

could someone clear up some points for me.

1. why do companies do trading halts anyway for capital raises? what is the benefit of the halt? why not just let the trading continue anyway?

2. why does txn need a capital raise? is it to secure more acreage?

3. why would a capital raise decrease txn share price? is it due to more potential debts accrued by the company?

4. i'm guessing it's a good time to buy shares in a company you like the direction of after a capital raise since its share price reaches a low point? why do so many investors sell after a capital raise and jump ship?

5. how does a capital raise work? does txn get a loan from another company? or do they go to the asx and order a bunch more shares to be traded (therefore lowering the value of the share price).

6. how does one buy the discounted shares? is it an 'invite-only' type thing. what determines the price?


agentm or someone could clear this up for me crazy fast... thanks..