TXN - Texon Petroleum

[geelongfan]

i have to agree kemmen, the smaller holders have an advantage for sure

my preference would be for a % attributed to the shares you hold

means nothing to me in the wash, i will pin my ears back and get what i can

as a smaller holder i'm hoping its not a % of what you hold.
everyone getting 15k sounds good to me

 

[condog]

Hence why i said, buy what you can in the post CR slump, because the spp will be restricted or scaled back anyway....

SPP are great for beginners, but pathetic for private punters with a sizeable holding.

 

[jetblack]

IMO TXN has not really moved that much to the oil price , I've been patiently watching the progress of TXN since their first EFS well, and when I finally had some cash I moved into TXN, from an outside view entry in this stock under 80c was to me a more than fair and reasonable price. Considering where the price of oil is now and what wells TXN will be drilling in the short term.


As far as the chart was concerned the dip down in the RSI gave me a little more comfort in buying, either way the 65c CR is a bonus , not that I will be able to participate in it , but if it drops back that low *gough* well it would be a crime to let some one else have them.

 

[Agentm]

IMO TXN has not really moved that much to the oil price , I've been patiently watching the progress of TXN since their first EFS well, and when I finally had some cash I moved into TXN, from an outside view entry in this stock under 80c was to me a more than fair and reasonable price. Considering where the price of oil is now and what wells TXN will be drilling in the short term.


As far as the chart was concerned the dip down in the RSI gave me a little more comfort in buying, either way the 65c CR is a bonus , not that I will be able to participate in it , but if it drops back that low *gough* well it would be a crime to let some one else have them.

the spike in oil will help txn in terms of their projected turnover, john and dave have projected some 600 boepd this quarter, and for the next quarter in 3 weeks they expect an average of 900 boepd.. $2.8 mill return per month..

i like the way they are expanding, they want more efs acreages, they have projects all over the place.. and monetising their successes

10 year returns olmos and efs only for texon

Eagle Ford Revenue $1,050 million
Olmos Revenue $350 million


Total Revenue $1,400 million

Possible Capital and Operating Costs $750 million
Possible Cash Flow (1) $650 million


this is @ Oil Price US$100/bbl Gas Price US$7.6/mcf


anyway, its a share pretty much under the radar really. most of the shareholders are accumulating.. the bot is driving the sp down and on our side for once, making it a brilliant time to accumulate.. as i feel the likelihood of flow success in the teal ranch 1h well that will be fraccing right about now will change the value of the sp bigtime, as will further success on the olmos wells.

i believe reserve valuations come thru after a few weeks also.

great times right now with the sp right in the right zone to accumulate imho


all imho and dyor

 

[jetblack]

Thanks agent for the information, and the rise in oil price will no doubt help TXN. What I was referring to was that TXN have been rising from their operations and ongoing business projects which is creating a solid foundation, in the EFS and Olmos.

I prefer to see TXN rise through this progress other than pure speculation on oil price, because if it calms down in the Mid-East there will be tears when/if the oil price settles under the $100 mark for certain other oilers.

 

[Agentm]

agree jetblack

i was just pointing out what texon revenue is looking like atm.

the 10 year figures came from their own presentation

texon has so much in the pipeline, and is unable to capitalise on all the projects it gets. i saw a project called sunshine being offered for sale by texon at the conference.

there is much opportunity and texon is driving towards expansion into the efs and other plays.

they are employing more and more staff and will be a completely different outfit in 6 months and in 12 months

i think the share is very much off the radar, and with no one is looking beyond the short term on this one.. which leaves massive value in share still to arrive..

all imho and dyor

 

[McCoy Pauley]

Texon was talked up on Market Day last night by a bloke from RBS Morgans (can't recall which analyst mentioned Texon) in the context of how to benefit from the increasing oil pirce due to the fact that Texon is likely to raise its reserves in the near future.

 

[yanman]

Has anyone received their SRR offer in the mail yet?

I bought into TXN on the 17th so with 3 days settlement that'll put me right on the cut-off date :|

 

[exgeo]

TXN - TEXON PETROLEUM LIMITED
RBS Australia rates TXN as Buy (1) - Target $1.13 (was $1.00). The company has the opportunity to increase its leases in the Eagle Ford Shale block and is essentially obligated to drill a further well to offset another well adjacent to its lease boundary. The broker has adjusted earnings on the news. Looking forward the broker sees the group's drilling program as very low risk, while offering the scope for good cash flows from further successes. Upgraded oil prices mean an increase in price target, Buy rating is retained.

Target price is $1.13 Current Price is $0.78 Difference: $0.35 If TXN meets the RBS Australia target it will return approximately 45% (excluding dividends, fees and charges)

 

[Agentm]

hey exgeo

i like the report

imho rbs has more and more opportunity to increase its upside as things progress this month, and into next month

very happy to see those targets go by, and i am not holding for that equation as i am looking further ahead than that

good luck to all holders

 

[RaymondJ]

Im waiting to get in and just sold out of SEA today. The only thing Ive got to add is there is no shortage of oil in the world even if Libiya is not producing at all. There is still a glut of oil at the Cushing plant and the U.S. politicians are talking about releasing some of their Strategic oil reserves into the market to bring down the oil price, Im not saying that would affect this stock significantly but it will spook investors. Im saying this so you can keep an eye on the U.S situation with their strategic reserves, they have released Strategic oil reserves before just on anticipation of a shortage back before the first gulf war. Itll be good for me but be carefull people ya dont know what the U.S will do to protect its crawling economy and the U.S is still the biggest user of Energy in the world.
Anyway keep a weather eye on them

Cheers

 

[exgeo]

The only thing Ive got to add is there is no shortage of oil in the world even if Libiya is not producing at all. There is still a glut of oil at the Cushing plant and the U.S. politicians are talking about releasing some of their Strategic oil reserves into the market to bring down the oil price

No shortage of oil in the world? You need to read a bit more - start with "Twilight in the desert" by Matt Simmons. Also have a look for those wikileaks cables regarding the Saudis alleged "spare capacity, or rather the lack thereof, especially light sweet (which Saudi production is not a good sustitute for, being heavy sour)

 

[RaymondJ]

No shortage of oil in the world? You need to read a bit more - start with "Twilight in the desert" by Matt Simmons. Also have a look for those wikileaks cables regarding the Saudis alleged "spare capacity, or rather the lack thereof, especially light sweet (which Saudi production is not a good sustitute for, being heavy sour)

Well regardless of what theory you aspire to, there is no shortage in the U.S and there is an oversupply in the U.S at the moment as stated by the U.S Energy commission or whatever they are called and some U.S politicians have called for the strategic reserves to be released to the market, this information I got from reading various interviews and articles from places like the Wall St Journal, Reuters, the news hour and the like.
I was merely trying to warn people about the way the U.S will use their strategic reserves, they have done in the past and will do it again to protect their economy, release oil that is. Meybee I should have said the reserves are finite but at the moment the world is well supplied the oil price is going up purely from scare talk, and it will probably come down again soon. If the oil price stays too high for too long it will supress global growth and the global demand will come down. Anyway this is just the info Ive gathered Im ok with it if you dont choose to believe it. Meybee the market will have a better day today the U.S was up 120 points or thereabouts.

this is a headling from an article from reuters mainly about the U.S states

Analysis: Oil spike threatens deficit-laden states(U.S.)

ok bye

 

[AlexG1]

the bot is driving the sp down and on our side for once

Hi Agent - I'm very new to this and still building knowledge - what's the 'bot' you are referring to here? Some automated trading system?

Thanks,
Alex.

 

[Agentm]

bots have been covered in many threads

this link may help

i noted this last night

HOUSTON---Swift Energy Company (NYSE:SFY) announced today that it has entered into a long term agreement for natural gas gathering, processing and transportation services in South Texas with Southcross Energy GP LLC and its affiliates. This agreement will involve the construction of a new pipeline to the Company’s AWP operating area in McMullen County, TX. Swift Energy will have up to 90 million cubic feet of gas per day of firm capacity for those services. The Company currently expects the new pipeline to be in service mid-2011.
Swift Energy has also executed a long term sales contract with Southcross Marketing Ltd for the natural gas liquids extracted during the processing of the gas and a portion of the residue gas that is indexed to market.

 

[jetblack]

I would put a chart out there, but I am having problems with my computer. I f there are any chart peoples, there is a good cause there for a developing cup and handle formation.

I have about $1.05 , with the handle if it had to fall to about 75c, would sort of tie in with developing announcements.

 

[AngusSmart]

Spp forms are in!

it it going to be first in best dressed? or do they go thru everything and average back on the scaling down when maximum is reached?

 

[bennywizard]

Spp forms are in!

it it going to be first in best dressed? or do they go thru everything and average back on the scaling down when maximum is reached?

Its not first in best dressed and its completely up to TXN as to how they might scale it back, if in deed it is scaled back.

 

[geelongfan]

i'm going to wait a couple of weeks to see what the market does before i jump in on the spp.

but i must say that txn has held relatively well compared to a number of other o&g stocks over the past week or so.. a sign of its value imho

 

[Miner]

Folks
The SPP offer was reported to have been despatched on 7 March.
I live in Perth and still have not seen it in my letter box
I was a holder on 22nd Feb to be eligible for the SPP.
Can any one please throw some light how long normally it takes to reach at letter box and if you have got it SPP offer I mean before I write to the company ?