mir has just posted an interesting comment on the AUT thread regarding the potential of the Pearsall formation (one of TXN's targets) and a presentation by Cabot Oil & Gas Corporation indicating activity in the region close to both AUT and TXN.
That formation lies about 2,000ft deeper than the EFS and could constitute another reason for the delays in monetising the EFS: if TXN wanted to reserve rights over the overlying Austin Chalk and also rights over the deeper Pearsall, it does not make for a simple transaction.
TXN Price at posting:
41.0¢ Sentiment: Hold Disclosure: Held
