re: Ann: EGM Notice of Meeting and proxy mail...
i recall years back when linfox was questioned as to how their transport agreements were implemented with colesmyer, a company he sat on the board of.
he came up with a pretty nice answer, as a director of the group lindsay said he simply submitted the linfox invoices! what??? no contract?? no terms?? no he said...
it was referred to a federal competitive watchdog then i believe. soon after that i think the business arrangements were tided up
i can see the comparisons here, and sure, all dave does is submit invoices and the guys working there get stacks of options on top of that..
what do the shareholders get for it...
plenty i think.. first dip on newly discovered plays and then texon then sends their landmen in and they do lease checks and look at viability of leasing those newly discovered potential targets. but we have yet to see texon actually succeed in all the years of wandoo and discover anything outside of the mcmullen leases..
without wandoo then texon would be subject to the usual stuff around the traps like later stage jvps or just going into fringes of newly discovered green fields and at more than likely at the higher second stage of lease pricing (after discovery wells pricing not pre discovery)
but whats being debated imho are good points, how much is fair reward? what level?
my view is that riche is most likely to be on the money, the new rules are indicative to texon being absorbed into something else, and the wet snouts are in the through feverishly gorging the rich picking of wandoo
lol
sale sale sale
TXN Price at posting:
45.5¢ Sentiment: Buy Disclosure: Held
