I agree about the "gleam in the eyes" regards the demerger. I hope they do split the company and put management in that actually wants to develop the asset. You can tell that the demerger hasn't been thought through because of the management options voted on at the EGM. Where do the options lie? Does management expect to have a doubling of the options if T2 occurs? How much of the funds will go to T1 v T2 ? Does the wandoo contract allow for demerger?
As I said before Texon has a good asset in the EFS you only have to look at the nearby drilling to see how prospective it is and sales such as Paloma to Marathon Oil 17000 acres/ 7000 boepd $750 million, acres included McMullin county and it is valuable .
In time all questions will be answered,
Cheers Icharus
TXN Price at posting:
46.5¢ Sentiment: Buy Disclosure: Held
