TXN - Texon Petroleum

[Magic Man]

magic,when I read that I thought you were joking,I have a lot to learn,looks to have bottomed at 80.5.Did you top up?

No reaper man. i was watching the stock earlier but had a sleep this afternoon and missed the low. However imnot worried. I have stock at 77cents and also at 65 due to the SPP. I see the buying is back up and the selling is dropping off slightly. i have toped up on stocks before with not much success to date. If i can get in around 83 0r 84 tomorrow i might settle for that. Nice work on getting in today!

 

[shanti]

There was a segment on french news on SBS today referred to as Eldorado in Pensylvania, US. Farmers were extatic with huge shale gas discoveries on their land. Extasy turned into horror when hydraulic fraccing caused major contamination. Cows died in the paddocks and water supplies got poisoned. One farmer demonstrated the situation by striking a lighter to running tap water in his kitchen which cought on fire. The blooming tap water was aflame. (Imagine if there was a fire and they try to extinguish it with that water supply). The reporter filmed those cow corpses lying around in the paddocks.
I didn't catch the name of Company or the Operator. As AUT, SEA, EKA and TXN holder I'm very grateful for their skilfull Operators.
__________________________________________________________________________

Favourite quote My religion is very simple, my religion is kindness.
The Dalai Lama

 

[frankblack]

Yes shanti,

There is a whole movie about it.
I believe it is called Gasland.
They were probably shots from the film.

Cheers

 

[zzaaxxss3401]

There was a segment on french news on SBS today referred to as Eldorado in Pensylvania, US. Farmers were extatic with huge shale gas discoveries on their land. Extasy turned into horror when hydraulic fraccing caused major contamination.

Have you watched "Gas Land"?

 

[estseon]

Our formations are thousands of feet lower than the aquifers.

See what TRRC say about an "incident" recently investigated (using science, not journalistic sensation)

http://www.rrc.state.tx.us/pressreleases/2011/032211.php

 

[shanti]

Have you watched "Gas Land"?

No, never heard of it, in fact all I've known is success from the Co's I hold. Lucky to be on the winners. Is it on DVD?

 

[Ramblin Round]

shanti be careful not to get caught up in the hype of pursuasive media. We are seeing some of that around here locally and it will probably get worse. esteon is correct......several thousands of feet lower and people doing that don't understand drilling. The RRC are doing their job to oversee everything. I am a rancher and landowner myself and I have little to no concerns on this topic. Oil companies are very sensitive to these issues for landowners. Don't believe everthing you read/see because those landowners either 1. just have sour grapes or 2. don't understand economics.

 

[rockrolla]

Evening

My first post with a new handle, bought in on txn from the vv recommendation in December, and again on the SPP . . said to self "bet it tanks as the SPP goes live" but it held a good ground (IE, didnt go back to 65) and we still have the second well ann to come.

tomorrow is a good day

 

[ColB]

Evening

My first post with a new handle, bought in on txn from the vv recommendation in December, and again on the SPP . . said to self "bet it tanks as the SPP goes live" but it held a good ground (IE, didnt go back to 65) and we still have the second well ann to come.

tomorrow is a good day

SECOND EAGLE FORD WELL - 1,105 BOPD ASX Release 15 April 2011

Texon advises that its second Eagle Ford well, Teal Ranch EFS #1H, has flowed 1,228 boepd (1) representing 1,105 bpd of light sweet crude oil and 736 mcfpd of gas with a flowing tubing pressure of 2086 psi through a 18/64” choke. Some of the frac fluid is also still being recovered.

Texon’s working interest in the well is 100%. Texon’s beneficial interest (NRI) in the production is 75% or some 921 boepd of the above production.

Texon has installed oil and gas production facilities at the Teal well location. The facilities include oil and gas separation equipment, oil tanks, measurement systems and connections to gas pipelines. As a result, the Teal well has already been connected to these facilities so that oil and gas being produced is now part of Texon’s revenue stream..."

Source: http://imagesignal.comsec.com.au/asxdata/20110415/pdf/01171513.pdf

 

[Ramblin Round]

This is an immense success for Texon in my opinion. To me it demonstrates that Texon is set to prosper. Many small caps won't/can't even get connected on the pipelines even after they are set to produce. (I know of some that still have to truck all their own oil to sales). Texon not only produces, but are increasing their revenue stream and have the professional relationships in place in Texas that will allow them to continue their growth.

I proudly hold Texon, and will continue to acquire. Good job to all involved !! :aus:

 

[condog]

IPR flows 1200 beopd + , this is fantastic news as it pretty much derisks the project with revenue from two successful wells now.

 

[AngusSmart]

No, never heard of it, in fact all I've known is success from the Co's I hold. Lucky to be on the winners. Is it on DVD?

http://extratorrent.com/torrent_download/2260329/GasLand.2010.HDTV.XviD-SYS.torrent

if your familiar with torrents.

you need a program like Utorrent to download this.

I swear i better get this $13500 more shares this bank is owing me!! 1200bopd! it will drop like the first but still impressive.

 

[poverty]

In today at 88cents. Let it flow.

 

[condog]

Guys i wouldnt panic, imo , it will rise now as sellers dry up at each level. I could be totally wrong, but i anticipate a good surge towards 1.20+ or 1.30 plus and some consolidation. The fact they now have a second well producing at commercial rates is going to attract re-valuations and buyers.

ITs now worth the risk. Compare performance now to the target in the preso Agent posted. They are imo now approx 6-12 months ahead of thier boe projections, once these other wells come in in coming months.

As many of you know Agent and i dont always see eye to eye, but credit where its due, his confidence in TXN is beginning imo to seem justified. They are looking much like the next AUT. I wouldnt sell AUT to buy TXN, but i shore would sell many others to buy TXN on the back of todays news.

I will be waiting for the 90 day flows on Tyler and 30 days on Teal, i thonk that will be the buying trigger for many.

 

[suhm]

I'm new to these EFS plays but it seemed like the IP was lower with a larger choke size for their second well, I've been having a lot of seller's regret recently offloading positions though.

 

[Agentm]

I'm new to these EFS plays but it seemed like the IP was lower with a larger choke size for their second well, I've been having a lot of seller's regret recently offloading positions though.

suhm

the well is offloading on what ever choke they like, they can change it daily if they wish

the well casing they have in the well will most likely be a 5 1/2 inch

later it will have a production liner put in, maybe at 60 - 90 days in

the well is doing fine.. brilliant imho

 

[Miner]

Guys i wouldnt panic, imo , it will rise now as sellers dry up at each level. I could be totally wrong, but i anticipate a good surge towards 1.20+ or 1.30 plus and some consolidation. The fact they now have a second well producing at commercial rates is going to attract re-valuations and buyers.

ITs now worth the risk. Compare performance now to the target in the preso Agent posted. They are imo now approx 6-12 months ahead of thier boe projections, once these other wells come in in coming months.

As many of you know Agent and i dont always see eye to eye, but credit where its due, his confidence in TXN is beginning imo to seem justified. They are looking much like the next AUT. I wouldnt sell AUT to buy TXN, but i shore would sell many others to buy TXN on the back of todays news.

I will be waiting for the 90 day flows on Tyler and 30 days on Teal, i thonk that will be the buying trigger for many.

Hi Condog (and Agentm)

thanks again to you et. al (and me ) for not being in rush to sell TXN after it gets allotted.

I am writing to complement Condog for saying that you and Agentm did not see eye to eye. I have been following both of your postings along with some others in different threads.
I think both of you have always been convincing with figures, data and facts. So I have never felt that you were not seeing eye to eye. I felt rivalry between Saint and Brisbane are always healthy for spectators - so you two fall in that category. I am taking lot of interest in O & G area - at least trying to understand the definitions and putting my hard earned money on TXN (like i did in AUT and EKA) .


Disclaimer : Do hold TXN, none of you paid me to do this commendation and do not support either of the two footy teams I mentioned

 

[Assasin]

Are you telling me Agent is a Saints supporter?- thats it.

 

[poverty]

Announcement out - all is fine and on schedule. Price goes down.

 

[rcm617]

Decided to take profits this morning.
If you take off the flow of the second eagle ford well and the two latest Olmos wells from the reported daily production only leaves 338 boe per day from the first EFS well plus the remaining Olmos wells.
I realise the two Olmos wells will have declined in the two weeks since update, but still leaves me worried about the amount of decline in the first EFS well.