Australian (ASX) Stock Market Forum

TXN - Texon Petroleum

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Miner said:
Could there be any correlation with such difficulties attributed to the region and hence ADI also declining ? :confused:
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Miner,

I would not be discouraged by the 10/27/09 press release except for the fact they were unable to reach the targeted Edwards Limestone. With regard to the Eagle Ford they are going to do some science (electric log interpretation, petrophysical and geochemical evaluations) to see what they have. Texon will probably drill another well targeting the Eagle Ford and can always re-enter this wellbore and take it horizontal after the Olmos is depleted.
 
Miner said:
Could there be any correlation with such difficulties attributed to the region and hence ADI also declining ? :confused:
Click to expand...

target depth of the Eagle Ford was 10600 ft prior to drilling , if this still remains the case , TXN would have drilled 419 ft through the target.

TXN remains minimum risk in my book considering the overlying Olmos will be a producer and the Eagle Ford is an added bonus pending results to come.
 
Coff&Dream said:
Should we be expecting a ann concerning the eagle ford shale this week? I have my fingers crossed for good news.
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I am under the impression we are onto something good here when TXN have to reduce choke diameter on a well and call it a test. Anyway this is my last stock post on this forum cause i am sick of posting to myself as I have mentioned in Pm's to other members . Besides that I am positive though that this is a stock to pick after wave 4. Apologies if i don't make sense , been tasting my first home brew and it taste good.
 
seasprite said:
I am under the impression we are onto something good here when TXN have to reduce choke diameter on a well and call it a test. Anyway this is my last stock post on this forum cause i am sick of posting to myself as I have mentioned in Pm's to other members . Besides that I am positive though that this is a stock to pick after wave 4. Apologies if i don't make sense , been tasting my first home brew and it taste good.
Click to expand...

Dear Seaspirite

I do recognise your frustration.
I believe there are few side liners like me who probably read your and other value based postings but unable to comment with insufficient knowledge on oil field.
But there will be other sideliners who are not willing to share their two cents in this forum too .

My only request is please do not stop posting. The fact that others are not contributed also mean they are accepting your opinion. So in a way your hard way is giving dividend to them. That is the other side of the coin story of an open forum.

I wish others should join to encourage you to continue

Regards
 
Hi all,

as Miner has stated, I also have a limited understanding of TXN. I have been very interested to see the acquisition of more acerage when eagle shale results where expected. I intepret this in two ways either the results of the eagel shale are suspected to be good and encouraged management to acquire more land. Or an act of divergence to leverage against below expected results. (I called TXN on friday and was told to expect a release concerning the eagle ford results next week sometime.) Is it safe in assuming good results represent a signifigant upside for the share price?

Please correct me if I am wrong, but I am lead to believe that the seismic data can be attributed to the high succes rate of drilling which concurrently stands at about 80%? Hopefully a good week ahead look forward to other's thoughts.
 
Coff&Dream, you were right on the first count.

Let's all hope today's announcements puts even a slight re-rating on the stock.
 
TXN thread is less visited now since Seaspirite stopped participating in ASF:(

I saw the announcement of 40% increased production by TXN. In oil and not in gas. But the market response on such a massive announcement lacked lustre. From 378 boepd to 535 boepd. That is a lot IMO.

The ASX announcement was without the typical red exclaimation mark as well. :confused:

Is that me only excited not understanding the impact of this announcement ?

TXN followers - any comments please ?
 

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