Ann: Investor Update , page-23

blackdog, it's great to have your views on what's been happening, particularly given your long experience with TXN. Nice comparisons with other Oz oilers in the US.

Foss says the company is mainly an explorer (did Mason say the same when he was CEO?). Unfortunately, proving up reserves (which TXN actually isn't doing as well as it should) don't raise share values the way they (apparently) did before the GFC. Now, it's a "show me the money" world, which means pumping out oil and generating real revenue. Of course, land sales do occur (see thread this week on an EF sale) and are welcome, but TXN underestimated the proving involved.

From your reading of recently TXN reports (such as this weeks' update), do you think Foss and the board are now motivated to build the business?