TXN 0.00% 58.0¢ texon petroleum ltd

I attended the meeting as a shareholder and must have been right...

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  1. 41 Posts.
    I attended the meeting as a shareholder and must have been right behind Bruhub.

    Agree with all the summaries provided - glad I went and was left with the same impression as DrDann. Appears that alot has been going on in the background that if it were possible to communicate would have made everyone alot more comfortable than they have been.

    Whilst frustrating, I personally respect their decisions regarding what to communicate in what has likely been some very difficult negotiations (considering the issues highlighted in RichE's post above).

    The big takeaway for me is that they now have a clear strategy and action plan to put the company into a position where they can negotiate a deal from a position of strength.

    Every day that passes now, should increase the value of EF and the ultimate price that someone will have to pay - and potentially attract new bidders creating more upward pressure. I think that the proposed split may also help speed up a transaction.

    Apart from creating more regular shaped parcels and derisking, it was also strongly hinted that the JV partner has some valuable relationships in the region that Texon may be able to leverage.

    Well done to all that asked probing questions it really teased out much needed detail. John indicated that they would put out an update in the next couple of weeks to update all shareholders on items discussed at the meeting.

    I have not heard him speak before but was personally impressed with Clifford Foss and what he has been doing over recent months.

    I am personally feeling alot more confident that we are in for good times over the next 6 months.
 
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Currently unlisted public company.

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