TXN - Texon Petroleum

philly · 7 March 2012

Points 1 & 3 achieved yet the SP goes down today.
I know the market was down today but I would have thought the sale of Olmos would have had a positive impact, An extra $US12m in the coffers is about 5 cents per share!Also fund managers would be buying given that TXN is now in the ASX 300
Any thoughts out there ??

Kremmen · 8 March 2012

boff said:
Point 3 also

Depends how you look at it. The ASX rebalances are effective the 16th.

philly said:
Also fund managers would be buying given that TXN is now in the ASX 300

It's not yet, but you might expect them to start sometime soon after the 16th.

rcm617 · 8 March 2012

philly said:
Points 1 & 3 achieved yet the SP goes down today.
I know the market was down today but I would have thought the sale of Olmos would have had a positive impact, An extra $US12m in the coffers is about 5 cents per share!Also fund managers would be buying given that TXN is now in the ASX 300
Any thoughts out there ??

Punters might have been expecting a better price. They got $6.7 million last year for 20% of Leighton Olmos, compared to $12.4 million this time for the rest. I think from memory they still had near 50%.

Agentm · 8 March 2012

asx 300 on the 16th

efs sale was announced, sale price will not be disclosed as it would be negotiated

the mossman acreages are larger olmos is present there

i think texon have a far higher ownership WI in the the unsold and larger acreages

i believe rbs made a slight adjustment to the acres left that were unsold so far.

they see $200 mil or .85 cents to the share for the sale of the efs in cash value

plenty of upside if the efs sells, but the market disbelieves it is possible

based on my knowledge of the efs, i am accumulating as i think the sale will be achieved.

its be touted by rbs that there will be a dividend after the efs sale

Tukker · 9 March 2012

I would like Tech/a to have a comment on TXN chart. Volume dropped right off with a miniscule price rise.

Does this signal a weakness from buyers?

Agentm · 9 March 2012

tukker

80 - 90 % of buying and selling is through rbs

it gets down to maths now. what value are the acres..

the next reserves upgrade imho will tell a good tale as to how to value it..

any post reserves jump up in the sp will be strongly supported by rbs clients buying in. with me on board in that group

will be an interesting month in that regard

philly · 10 March 2012

Agentm said:
asx 300 on the 16th

efs sale was announced, sale price will not be disclosed as it would be negotiated

the mossman acreages are larger olmos is present there

i think texon have a far higher ownership WI in the the unsold and larger acreages

i believe rbs made a slight adjustment to the acres left that were unsold so far.

they see $200 mil or .85 cents to the share for the sale of the efs in cash value

plenty of upside if the efs sells, but the market disbelieves it is possible

based on my knowledge of the efs, i am accumulating as i think the sale will be achieved.

its be touted by rbs that there will be a dividend after the efs sale

Hi agentm, what happens to TXN when it sell the EFS? My understanding it that it wont hold any acres any where in the world and although it will have an impressive bank balance it wont actually be an oil and gas explorer or producer. Where is it likely to go to drill its next well? Seems odd that it would leave the sweet EFS if it didn't have another target in mind.

So for now is the only real interest in TXN is based on the cash value of the share and / or potential dividend after the sale of the EFS?
And I guess also with TXN going into the ASX 300 effective 16/3 the fund managers will have it on a buy list as well.

Agentm · 10 March 2012

philly said:
Hi agentm, what happens to TXN when it sell the EFS? My understanding it that it wont hold any acres any where in the world and although it will have an impressive bank balance it wont actually be an oil and gas explorer or producer. Where is it likely to go to drill its next well? Seems odd that it would leave the sweet EFS if it didn't have another target in mind.

So for now is the only real interest in TXN is based on the cash value of the share and / or potential dividend after the sale of the EFS?
And I guess also with TXN going into the ASX 300 effective 16/3 the fund managers will have it on a buy list as well.

they hold the acreages over a huge wilcox target in duval county, but they wont drill it, its a gas target

they hold acreages in colorado county on an wilcox target, under a town, but wont drill it as its a wilcox gas target

imho they may sell it or let it slide

they hold a the southern acres in mcmullen that contain the olmos and wilcox, yet to be exploited, both oil targets

the efs is up for grabs

the pearsall shale in the mcmullen acreages throughout are not for sale

thats what they hold

post efs.. they will target are large unconventional oil play

the share will go to cash value once the efs is sold

may add more in a while, just a quick reply

cheers

boff · 13 March 2012

Agentm said:
4) reserve upgrades

Point 4 achieved, only two more to go. And still no change in SP

Agentm · 18 March 2012

back to mid .60's

about 8 mill in volume has traded these last 3 days

i think the chairmans letter was very factual and informative. texon sees their efs acres in a very positive light. it gets down to what cash value the share will achieve from the efs sale in the next few months

philly · 26 March 2012

Agentm said:
back to mid .60's

about 8 mill in volume has traded these last 3 days

i think the chairmans letter was very factual and informative. texon sees their efs acres in a very positive light. it gets down to what cash value the share will achieve from the efs sale in the next few months

Hi Agentm, I know this question might be the same as how long is a piece of string but what do you believe is a reasonable time frame for the sale of the efs?
With the SP stagnant despite recent good news [asx 300, reserves upgrade] I might need to decide whether to stay and wait or get out now and invest elsewhere.
Time to do some research

Sulfuras · 26 March 2012

Posted in another forum by agentm. Hope you don't mind the link here.

http://www.albrechtai.com/divestments/Texoz Brochure Eagle Ford.pdf

Negotiations to be concluded by May 2, 2012.

Agentm · 26 March 2012

philly said:
Hi Agentm, I know this question might be the same as how long is a piece of string but what do you believe is a reasonable time frame for the sale of the efs?
With the SP stagnant despite recent good news [asx 300, reserves upgrade] I might need to decide whether to stay and wait or get out now and invest elsewhere.
Time to do some research

Data Room Open .............................................................................. March 19, 2012
Data Room Closed ............................................................................. April 27, 2012
Offers Due ............................................................................................. May 2, 2012
Effective Date ....................................................................................... June 1, 2012

mid year is what texon wishes to dispose of it asset

it has another one to add over the next months, it wont reveal it right now, but as soon as it has a commanding position in the play it wants, it will be announced

i understand a dividend is being considered.

whether its efs acreages are sold by albrecht or a bidder takes it on market is yet to be played out

imho you wouldnt pay a fortune for an efs position when you can get it on market for nothing

whats real crazy is that rbs in brisbane are helping in the sale of the asset.. they know nil about selling oilfields..

i am holding for the upside i see.. early days right now.. data room closes late next month

philly · 27 March 2012

Agentm said:
Data Room Open .............................................................................. March 19, 2012
Data Room Closed ............................................................................. April 27, 2012
Offers Due ............................................................................................. May 2, 2012
Effective Date ....................................................................................... June 1, 2012

mid year is what texon wishes to dispose of it asset

it has another one to add over the next months, it wont reveal it right now, but as soon as it has a commanding position in the play it wants, it will be announced

i understand a dividend is being considered.

whether its efs acreages are sold by albrecht or a bidder takes it on market is yet to be played out

imho you wouldnt pay a fortune for an efs position when you can get it on market for nothing

whats real crazy is that rbs in brisbane are helping in the sale of the asset.. they know nil about selling oilfields..

i am holding for the upside i see.. early days right now.. data room closes late next month

As always Agentm I appreciate your post. Thanks

Agentm · 7 May 2012

philly said:
As always Agentm I appreciate your post. Thanks

cheers philly

data room is closed and bids would be on the offering

zero interest in the share on market, but it doesnt deter me from seeing the upside

with the drop in the sp recently, time to add..

cheers

Agentm · 1 June 2012

went to agm the other day

cliff foss is an incredible asset imho, presented excellently

sale of efs is to be within weeks imho

my view is that the deal is being done through the corporate room at rbs brisbane

met the guys doing it all and also pretty happy with the forward plan

plenty of upside in the share, the top 50 are accumulating, no changes for a long time

everyone i know is accumulating.. managed to get a few last week when some forgotten lowball bids came through

good luck is any asf members are still in it, texon is going upwards in global down slide.. nice to be in this one right now

Miner · 5 October 2012

Market gone up and Txn got down
I put a buy order for 30 cents arbitrary as a could happen
Looks like the trend suggests it is heading south to happen,
Good for me to reenter but what about who bought at a much much higher price ?
Anyway need more data and back up to see if my wish list is going to be fulfilled

Kremmen · 14 November 2012

SEA and TXN both went into Trading Halt on yesterday. This was no coincidence, as it turns out. SEA plans to take over TXN, with TXN shareholders to receive 1 SEA share for every 2 TXN held.

[I hold both SEA and TXN.]

Agentm · 21 November 2012

the deal is not set, it is a merger that allows for a counter offer.

so if the EFS players want to get the EFS acres, they have ample opportunity.

i said this elsewhere

if you asked anyone in texas that they had some of the best EFS land, with permits all organised, pooled and with JVP wells organised to ensure 5000 feet laterals on all wells, plus you get 8 producing wells, and all that for $12,000 an acre!!!

they would basically ignore you, as that would be insane....

no one sell efs acre for those prices. i cant even get contiguous acres in mcmullen for under $25k an acre in the oil zone.. best i had was 10,000 acres in atascosa for a bid of $10,000 and offers were being rejected..

i wont be voting for the merge, but will vote for the de-merge of txn/talon..

isnt talon a rat killer?

skc · 21 November 2012

Agentm said:
the deal is not set, it is a merger that allows for a counter offer.

so if the EFS players want to get the EFS acres, they have ample opportunity.

i said this elsewhere

if you asked anyone in texas that they had some of the best EFS land, with permits all organised, pooled and with JVP wells organised to ensure 5000 feet laterals on all wells, plus you get 8 producing wells, and all that for $12,000 an acre!!!

they would basically ignore you, as that would be insane....

no one sell efs acre for those prices. i cant even get contiguous acres in mcmullen for under $25k an acre in the oil zone.. best i had was 10,000 acres in atascosa for a bid of $10,000 and offers were being rejected..

i wont be voting for the merge, but will vote for the de-merge of txn/talon..

It's a script only deal... I guess it all depends on how much you value SEA's assets and if they are more or less undervalued than TXN's.

Agentm said:
isnt talon a rat killer?

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TXN - Texon Petroleum

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