TXN - Texon Petroleum

[Assasin]

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.

Thats a very interesting move and reasoning. Would you mind telling us what your shifting your money into? Understand if you don't.
Cheers.

 

[geelongfan]

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.

interesting.. what sort of decline were you expecting for the first EFS well? if it's initially 1200 boepd, what declines would be good and bad to the time we are at now?

 

[rcm617]

Just my decision for my own portfolio, I've been in this for over a year and trebled my money. Always to easy to fall in love with your stock, I think it still has plenty of potential, including all its other fields, but I'm seriously overweight in oil stock.
When you look at AUT's early wells they were still producing an average of 500boe per day at the four month stage even when you convert the gas at 12 to 1 to more evenly align pricing.
The thing that worried me was that they included the third Olmos well in the 2116 boe, so as I said, must be serious declines either in the Olmos wells put online 14 days ago or in the first EFS well or very little production from the third Olmos well.
I'm no expert so happy to have others shoot me down in flames.

 

[Wombus]

Just my decision for my own portfolio, I've been in this for over a year and trebled my money. Always to easy to fall in love with your stock, I think it still has plenty of potential, including all its other fields, but I'm seriously overweight in oil stock.
When you look at AUT's early wells they were still producing an average of 500boe per day at the four month stage even when you convert the gas at 12 to 1 to more evenly align pricing.
The thing that worried me was that they included the third Olmos well in the 2116 boe, so as I said, must be serious declines either in the Olmos wells put online 14 days ago or in the first EFS well or very little production from the third Olmos well.
I'm no expert so happy to have others shoot me down in flames.

I'm no expert either, but seeing the current production announcement is about 250 boepd (and 200 bopd) better than the projected Q2 production figures from TXN presentations I'd say that the declines are nothing to worry about, if anything they are better than projected. Happy to keep holding while management meet or exceed their projections

 

[Agentm]

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

miner

dont give a rats clakker

leaving for texas day after tomorrow and couldnt be happier with my oil investments

your contribution to flaming is pretty obvious.. you just go down in my estimation..

condog bringing up old memories.. means he cant move on,, his big deal not mine

means sweet nothing to me.. i invest as b4

 

[Magic Man]

The performance of this stock today has been pretty disapointing

 

[condog]

Agent it was meant as a positive.

And i think Miners post was too.

 

[jancha]

Some large cross trades at over 1mill each @ 80c.
Wonder if Agentm has something to do them now that he's over in good ol Texas or is he only over there getting oiled up for a sun tanning?

 

[estseon]

The directors have a stack of expiring options with almost 8m in profit at current prices. Most will have to be sold unless they have substantial cash resources.

 

[Agentm]

currently in karnes county.. the place is effectively jammed with rigs and the region is stretched to the max with every resource at its capacity

no one can say that the there will be any chance of the current pipelines and processing plants will ever be able to meet the demands these wells are delivering

all around me right now are hilcorp and cop rigs, and its obvious that there is a distinct lack of experience in the drill crews out here.. i know of one rig where the drillers had less than 6 hours experience on a rig..

you walk down the street and you hear people talk about how impossible it is to get any experienced welders or fitters or anyone really.

i have been to a lot of drill sites where the efs is producing pretty poorly, it makes you wonder what the cause is..

have to say i am impressed with conoco, they do things very well.. its not so obvious to me how these acres can be held by the larger land grab players, even cop.. and the smaller players are far more successful in holding out acres on production.

should be finished here by tomorrow and off to other counties. think i may pass by mcmullen as soon as i have some time spare

you hear of rumous of other plays out here in texas which may be pretty exciting. so more research to be done by me i think

 

[Miner]

currently in karnes county.. the place is effectively jammed with rigs and the region is stretched to the max with every resource at its capacity

no one can say that the there will be any chance of the current pipelines and processing plants will ever be able to meet the demands these wells are delivering

all around me right now are hilcorp and cop rigs, and its obvious that there is a distinct lack of experience in the drill crews out here.. i know of one rig where the drillers had less than 6 hours experience on a rig..

you walk down the street and you hear people talk about how impossible it is to get any experienced welders or fitters or anyone really.

i have been to a lot of drill sites where the efs is producing pretty poorly, it makes you wonder what the cause is..

have to say i am impressed with conoco, they do things very well.. its not so obvious to me how these acres can be held by the larger land grab players, even cop.. and the smaller players are far more successful in holding out acres on production.

should be finished here by tomorrow and off to other counties. think i may pass by mcmullen as soon as i have some time spare

you hear of rumous of other plays out here in texas which may be pretty exciting. so more research to be done by me i think

I thought this is a thread for TXN and not for a poster's travel diary. Could not see any reference to TXN

I am confused

 

[Agentm]

just put a tou violation on the post miner..

apologies for mentioning the efs and karnes county.. lol

if the moderators like, it can be removed.. that will clear up your confusion for you.

but for your information, karnes county, live oak and dewitt as well as mcmullen and lasalle and beyond to the mexico border is a long belt of efs activity

a bit to the east of here is the colorado county target of texon called coolangatta.. and to the south west is duval county where the massive scarborough wilcox target sits. i have researched the coolangatta target somewhat in the last month, and if anyone does the same they will see what i have seen close by that conoco and i believe exxon have on production.

i will be travelling pretty much exclusively in those counties in the coming days..

miner, as you know the first time texon became aware of the wilcox wells close by to the mcmullen acreages was from my posts here on this forum. but i do believe they are aware of the active wilcox targets in colorado, and i think the play is rated about 70% in my estimation

the scarborough wilcox target is worth $2 to the share, and it one i have a huge interest in.. also the 2 wilcox wells in the mcmullen acreages. if they can get those wells to come on, and the wilcox is good, texon will be a $2 share in no time

there are plenty of considerations you need to take on board if your taking an exclusive stake in the efs only.. there are plenty of restrictions and issues that are being talked about all the time here.. its not as easy as one thinks to convert a greenfield play up into a fully held out and play within the timeframe that the leases are being signed atm..

i am real happy texon is exploring other plays and regions out of the hot zone as well as being active in securing acreages in mcmullen efs to expand into with ease

lots to consider if your an efs investor.. plenty of ways you can screw a jvp partner or choke back production or indeed just not produce at all with no pipeline availability or oil delivery at capacity.. not a rosy picture for a lot out here imho.. some may be seeing their acreages go to into other folks hands,, there is no iron fisted guarantee here at all!!! and disbelieve me at your peril....

i really like texons approach, dave mason has it well planned.. outstanding really. being an operator will deliver maximum rate of return and impose no restrictions or create no issues with capital raisings that other farm in are having

when your on the ground here, you can see what it really is, how it works, and how bad one way of exposing yourself vs how amazingly good it is to be an operator in the efs at this stage of its development with all the bottlenecks currently in place..

if some of the things i am hearing happen, and if these other plays i hear about commence,, then i see huge issues and am real real happy to be in with texon..

cheers...

 

[nioka]

I thought this is a thread for TXN and not for a poster's travel diary. Could not see any reference to TXN

I am confused

I, for one, am not confused. I see it relating to TXN and also to EKA and AUT. I'm happy for it on be on the TXN threads. I'm interested in knowing what is happening there. Keep up the posts Agent. Wish i was there.

 

[geelongfan]

fantastic posts agent as always. very informative. have a great trip and try not to pick up too many american chicks with that aussie stock knowledge

 

[Agentm]

I, for one, am not confused. I see it relating to TXN and also to EKA and AUT. I'm happy for it on be on the TXN threads. I'm interested in knowing what is happening there. Keep up the posts Agent. Wish i was there.

nice to hear a positive response.. the efs is a huge play but it has to be carefully developed. and there is no doubt in my mind after seeing how its going right here, that texon as a operator is an advantage, a dynamic that will be a huge, and i mean a HUGE advantage to them.

fantastic posts agent as always. very informative. have a great trip and try not to pick up too many american chicks with that aussie stock knowledge

the local bars here, are like nothin you would ever see in aus.. and they are real eye openers.. never thought i would be drinking with the folk i have been, and they are from ever type of background you can imagine.. great people, warm and welcoming, very different to investors in this share on this forum.. but as for the chicks.. well they are as nice as anywhere, good honest and hard working girls.. great to have a talk to.. but i would not entertain anything other than buy them a drink and have a converation with them..lol

 

[geelongfan]

the local bars here, are like nothin you would ever see in aus.. and they are real eye openers.. never thought i would be drinking with the folk i have been, and they are from ever type of background you can imagine.. great people, warm and welcoming, very different to investors in this share on this forum.. but as for the chicks.. well they are as nice as anywhere, good honest and hard working girls.. great to have a talk to.. but i would not entertain anything other than buy them a drink and have a converation with them..lol

haha. i actually just returned to aus a few months back after spending the last three years going to university in the usa. was definitely an eye opener.. have a few friends from dallas and houston.. anyways, i'm getting a bit off topic now but have a blast mate!! you earned it for sure!

 

[estseon]

Hi agent

any further info on the technical difficulties of producing from the EFS would be welcome (regardless of which of the counties).

Is there any talk of drilling the overlaying chalk? You recall that COP fractured both horizons in the Marlene Olsen vertical and Kowalik was originally drilled in the chalk. Weston has been producing from the chalk for about 12 months.

 

[Miner]

just put a tou violation on the post miner..

apologies for mentioning the efs and karnes county.. lol

if the moderators like, it can be removed.. that will clear up your confusion for you.

but for your information, karnes county, live oak and dewitt as well as mcmullen and lasalle and beyond to the mexico border is a long belt of efs activity

a bit to the east of here is the colorado county target of texon called coolangatta.. and to the south west is duval county where the massive scarborough wilcox target sits. i have researched the coolangatta target somewhat in the last month, and if anyone does the same they will see what i have seen close by that conoco and i believe exxon have on production.

i will be travelling pretty much exclusively in those counties in the coming days..

miner, as you know the first time texon became aware of the wilcox wells close by to the mcmullen acreages was from my posts here on this forum. but i do believe they are aware of the active wilcox targets in colorado, and i think the play is rated about 70% in my estimation

the scarborough wilcox target is worth $2 to the share, and it one i have a huge interest in.. also the 2 wilcox wells in the mcmullen acreages. if they can get those wells to come on, and the wilcox is good, texon will be a $2 share in no time

there are plenty of considerations you need to take on board if your taking an exclusive stake in the efs only.. there are plenty of restrictions and issues that are being talked about all the time here.. its not as easy as one thinks to convert a greenfield play up into a fully held out and play within the timeframe that the leases are being signed atm..

i am real happy texon is exploring other plays and regions out of the hot zone as well as being active in securing acreages in mcmullen efs to expand into with ease

lots to consider if your an efs investor.. plenty of ways you can screw a jvp partner or choke back production or indeed just not produce at all with no pipeline availability or oil delivery at capacity.. not a rosy picture for a lot out here imho.. some may be seeing their acreages go to into other folks hands,, there is no iron fisted guarantee here at all!!! and disbelieve me at your peril....

i really like texons approach, dave mason has it well planned.. outstanding really. being an operator will deliver maximum rate of return and impose no restrictions or create no issues with capital raisings that other farm in are having

when your on the ground here, you can see what it really is, how it works, and how bad one way of exposing yourself vs how amazingly good it is to be an operator in the efs at this stage of its development with all the bottlenecks currently in place..

if some of the things i am hearing happen, and if these other plays i hear about commence,, then i see huge issues and am real real happy to be in with texon..

cheers...

thanks Agentm for very informative posting and clearing my confusion.

Yes I do understand the correlation of your previous posting and TXN factor.

Please keep the good work up for all of us (specially I being a newbie in oil and gas areas)

Thanks to other posters too clearing my confusion.


Cheers

 

[Magic Man]

The slide on this stock has been disappointing. Can we expect the stock to slide all the way back down to 0.65??

 

[Assasin]

The slide on this stock has been disappointing. Can we expect the stock to slide all the way back down to 0.65??

Hi Magic,
all the small-cap oilers copped a hit with a big stick today, ( AUT, SEA, EKA ).
But in the case of TXN, maybe still a case of post cr blues. IMO nothing to worry about, if I had more money i'd buy. To me, TXN is just ticking every box.: