olmos has potential to be $20 mill (based on previous sale)
cash is $20 mill
so efs is valued at $29 mill
so $4k an acre
interesting valuation imho
is it really worth that?
imho market has it wrong,, but i am a shareholder
although the share is priced in as a fail, and thats entirely based on assumptions that the management cannot effect any sale from any interested suitor.
is east texas worth zero also??? with proven oil extracted from the rock on the boundary of the leases north and south???
as much as texon is dead keen to release precious little on it, i am actually convinced the oil play itself, which is not called roundhouse, when researched, is a very astute and clever move.
i gather the deliberate use of fake field names on a target helps disguise their target as they approach near by landowners for their leases and try to lease up a very large position. 20,000 acrs @ 100% WI
so with zero fanfare on new acquisitions, and the market and people close to texon dead convinced the sale is not happening and pricing it accordingly, we are left with a decimated share price with the only positive for anyone buying into the share now potentially getting a screaming bargain should texon achieve what is squarely believed to be unachievable - a efs transaction of any nature or type..
TXN Price at posting:
34.5¢ Sentiment: Buy Disclosure: Held
