TXN - Texon Petroleum

[bazollie]

the real story on the txn share is its drive upwards as it achieves new value for the EFS, something it has yet to achieve to any degree

drilling for oil is about turning a discovery into a profit. and managing that with minimal share dilution.

where txn is particularly lucky is that it has these producing wells, giving it positive cashflow, now it can look at the efs seriously, drill two wells and with that the share should in all liklihood achieve some of that efs value

my view is that the roadshow txn took last week in boston and NY, will attract some US based interest also, so lets see if the good news continues

imho money for txn will start to flow in the coming few weeks ahead,,,

you may see some sp re-ratings in the near term

good luck to all holders

Totally agree AgentM , come late November/Early December we should see some of the value of EFS in the S.P. The well just completed was not in the EFS so results will understandably be much lower than a horizontal frac result similar to what we've seen right next door.

What I really like about TXN is that they have cash flow from producing oil and gas wells, so in theory won't have to go back and rattle the tin with existing holders. The other thing I like about TXN is the simple ownership structure/ farm in that they have across their leases. No major complicated partnerships.

Really looking forward to the next 4 weeks to see if we have what the neighbours have proven right next door!

Regards
Bazollie

 

[Agentm]

hey bazza

"The well just completed was not in the EFS so results will understandably be much lower than a horizontal frac result similar to what we've seen right next door."


i gather you mean the flow report on the well from yesterday



"NAMBUCCA FLOWS GAS
Texon advises that the recently drilled Nambucca well has tested gas at the gross rate of 442 mcfgpd from the Yegua reservoir through a 10/64” choke at 750 psi.
The well will be connected to the same gas sales pipeline as the recent Lennox discovery in the next 2-3 weeks."




the eagleford shale well just completed by Texon and fraccing in a few weeks is the 4500 foot long Tyler Ranch 1h

the second EFS well is labelled by Texon as follows in a recent announcement

Mosman-Rockingham EFS #1H (MR EFS #1H). and imho should be drilling right about now, i expect announcements on that any time now

but interestingly the well is not called that on the RRC..

its a 6000 foot lateral (if they want to complete it to that length, and if its practical to) which is far longer than the first well of 4500 feet

the well is called Teal Ranch EFS 1H

in the past months there has been a huge flood of permits into the EFS in mcmullen county by many operators..

imho TXN are on the money here..

i am backing them in and increasing my position week by week..

 

[Hatchy]

6000ft lateral - surely if they actually go that length then it will be one of the longest in the EFS?

I can't remember ADI's ever being that long, but the tech is getting better and better.

Hopefully the shale is stable enough in that area for them to complete the full length, sure would be a good producer if it shows good oil and gas across a full 6000ft!

Hi AgentM,
What can you comment on the skill of the people hired to drill these TXN wells? Are they as skilled as the people that were doing the Hilcorp wells?

Cheers

 

[gerkin02]

Petrohawk are drilling or have completed an intended 8000ft lateral in Mcmullen county.

All the best.

 

[Agentm]

nabors drilled the first

not sure on who the driller is on the second well

from my understandings, the completions are to be done by halliburton, whom have so far the best experience in the efs

i think the decision to drill 6000 feet or shorter will be made once they have the first well fracced. the plan is for 6000 feet max if they want to go to that length

 

[Guardian]

Am i reading right that in Sep quarterly statement that MR Olmos #1 is only producing 9bopd.

GUARDIAN

 

[Sdajii]

Am i reading right that in Sep quarterly statement that MR Olmos #1 is only producing 9bopd.

GUARDIAN

I saw that too, at the end of page four. Seems.... odd.

TXN TXN TXN um... I hold TXN.

 

[happytown]

fraccing of tyler-ranch 1h should begin this weekend or thereabouts, with results expected sometime before end of month

drilling of mosman-rockingham 1h should also commence this weekend or thereabouts

the approx timeframes for both of the above come form their recent 1 nov ann

interesting couple of weeks ahead for txn

 

[Agentm]

fraccing of tyler-ranch 1h should begin this weekend or thereabouts, with results expected sometime before end of month

drilling of mosman-rockingham 1h should also commence this weekend or thereabouts

the approx timeframes for both of the above come form their recent 1 nov ann

interesting couple of weeks ahead for txn

its all about to happen for txn, and my last minute orders were only partially hit and are just sitting there, best i can hope for is a market shake down and perhaps get a few hits..

EFS value will start to creep in during the nov-dec months as news flow comes through

frac design is pretty interesting, and i have a lot of expectations for the possibility of the initial EFS well achieving flow.. infact i have little doubt at all really..

market is yet to factor success in, but its only a time thing and and of course success in the frac

best of luck to all holders, txn will soon be doubling their current production rates in a heart beat imho

 

[Mofra]

Cheers for the update Agent, I've taken a position in TXN primarily for the Eagle Ford exposure, noting Olmos had (at my last count) 24 proved & probable locations for wells with a couple more to be drilled out of cashflows in 2011.

Not expecting big spurts on this TBH, just a slow grower over time as flows increase.

 

[Agentm]

Cheers for the update Agent, I've taken a position in TXN primarily for the Eagle Ford exposure, noting Olmos had (at my last count) 24 proved & probable locations for wells with a couple more to be drilled out of cashflows in 2011.

Not expecting big spurts on this TBH, just a slow grower over time as flows increase.

i know a few guys out there in mcmullen working on various EFS and Almos wells..

the reports i hear are very encouraging, and in particular the region Texon is in east of Tilden.. i think they mentioned a new rig they saw up there could be the next texon well..


swift gave a huge rap for the EFS and almos sands in their webcast a few days back

having a lot of trouble seeing the well fail, with a swift well doing close to 1000 bopd ip next to the texon well thats about to frac and with production from a vertical well into the EFS atm...


things look great for the next few weeks.. lets see if sellers like selling at these prices for a long time to come or not..

best of luck.. its all about to start imho

 

[Mofra]

having a lot of trouble seeing the well fail, with a swift well doing close to 1000 bopd ip next to the texon well thats about to frac and with production from a vertical well into the EFS atm...

That is definately positive news, production at lower than that would be very good news after a few lower than expected showings (inlcuding the last gas ann).

 

[happytown]

fraccing of tyler-ranch 1h should begin this weekend or thereabouts, with results expected sometime before end of month

drilling of mosman-rockingham 1h should also commence this weekend or thereabouts

the approx timeframes for both of the above come form their recent 1 nov ann

interesting couple of weeks ahead for txn

txn ann'd earlier this morning

mosman-rockingham 1h commenced drilling 12/11/10, expected to reach td by mid-dec

tyler-ranch 1h fraccing delayed for a week or two, with results now expected approx mid-dec

 

[Ramblin Round]

Hey gang. Just got in on Texon. I am hearing good things form eveyone in this area. The frac announcments hopefully will welcome some handsome engagements for Texon. What is demonstrated from what I have read here is that those acreages are prime Eagle Ford country. Enjoy the ride.

 

[Mofra]

Hey gang. Just got in on Texon. I am hearing good things form eveyone in this area. The frac announcments hopefully will welcome some handsome engagements for Texon. What is demonstrated from what I have read here is that those acreages are prime Eagle Ford country. Enjoy the ride.

Cheers Ramblin, and good luck. I like the announcements that indicate we whoudl be receiving further drilling results before the end of the year - Eagle Ford exposure (in conjunction with a bit of other digging around) was the major reason I took a position.

 

[Agentm]

hey ramblin

i like the EFS aspect of this share myself, they have a lot of producing wells going for them right now, and a few efs wells will continue to make a nice return for texon, they have a real high % on these acreages, and very little dilution.

i really think texon have planned the frac design well, and i am extremely interested in the result of this well coming up in the next few weeks.


good luck to all investors

 

[Agentm]

anyone seen this type of detailed TA on a share..

i would appreciate some comment from holders, and particularly those whom follow TA approaches to trading

this was placed on youtube a few hours ago by haspete.

with the next news stop being the frac of the well, i wonder how the comments from haspete will translate in the future,,

 

[Hatchy]

I'm not sure that his TA will stand up to the Fundamentals that will be the fraccing of the well and drilling of the next well. He may well be correct in the share finding resistance back to 52c though before the fundamentals take over.

I have and always will be a TA skeptic when it comes to fundamentally based shares like explorers.

Hatchy

 

[Agentm]

the fundamental frac and the fundamental drilling of the 2nd EFS well imho are all going to plan

the prices being seen atm are pretty amazing considering txn will in a very short period of time be practically doubling its oil and gas production

despite being heavily loaded into this share, i am beginning to look at taking another swipe at the share at these prices.. the temptation is becoming too much..

looking forward to the announcements in the near term as txn updates on the progress of the frac and the progress on the drill of the second well.

 

[Agentm]

seeing as i went to all the effort to put this together on another site, i thought i would post it here as well

there is a lot of good indicators that the EFS will flow for texon..

looking forward to the results in the next few weeks