Ann: AGM Presentation , page-18

So txn's MC is around $140mill,

around 7200 acres net to TXN. ignoring all other assets/any growth potential that gives, (16 mill cash)

EF/acre = 124M/7200 = $17200/acre....

Now what im interested in is how much of the $$ for EF comes into my pocket.

Sell EF pay tax, pay shareholders and reinvest the rest.

35% tax for capital gains for US corps (minus cash already invested) so lets say they pay 15% tax to US gov (hopefully underestimate).

$17200/0.85 = 20k/acre.... with 1 well per 1550 acres....

how much more have EKA/AUT proved up their wells? (not rhetoric, anyone know?)

How much more volatile is the share price of txn compared to the volatility of the $$ paid for assets such as EF. (this is rhetoric)

I am betting that it is much greater....

good luck to all