I have Reread my notes from yesterday and i want to correct part of what I wrote yesterday on the sale process. jA said that they were talking with "someone who likes the music but is not dancing". My earlier reference that they were "dancing" with a party should be read in that context. However they also confirmed that they were being vague at this meeting so as not to give anything away to the party. As to credit terms on the facility (asked about on the other thread) they said it was presently enough for "5 - 8" wells depending on whether the wells were JV ones or their 100% ones. They said the amount of the facility was dependent on "proved" resources and said it would increase as proved resources increased. They also said the present facility was sufficient for "6-9 months". No interest rtes were mentioned.
TXN Price at posting:
46.5¢ Sentiment: Hold Disclosure: Held
