Ann: March Quarterly Reports , page-8

Daniel99 - 60 days I think. AgentM probably knows for sure whether its 60 or 90. In any event with a sale date of 1/2/12 for the Leighton Olmos neither were going to affect that last quarter cash report as the receipts wouldn't cease until after 31 March or 30 April.

pippen_2k - yeah agree. I've been of the opinion for quite a while that there is a disconnect between the SP/Market Cap and the underlying asset values.

To illustrate:
@ $0.59 TXN's market cap = $145m
Take the approx cash balance of $27m off = $118m
Allocate evenly across all 7,200 EFS acres (ie assume $0 for all other assets) = $16.3k

Run the same calc for the AUT bid for EKA
@$0.45 EKA's market cap = $108m
Take approximately $5m cash out = $103m
Allocate evenly across all 1,521 EFS acres (ie assume $0 for all other assets) = $67.7k

Yes.. I'm aware that
a) there is a big argument about what EKA's other acerages are worth but the same could be said for TXN's Mosman/Rockingham Olmos + Wilcox leases/stratas.
b) EKA's Sugarkane area is prime EFS compared with TXN's "only" great EFS and
c) the development (eg # and position of wells) of the 2 companies acerages are different as well

Still $16.3k to $67.7k is a HUGE difference. I'm not saying or even implying TXN will get $67.7k for their acerages - just suspect it will be something inbetween.

My finger in the wind guesstimate of $30k + cash comes out at about the $0.95 I stuck in the closest to the pin the otherday.

With the top 50 shareholders now heavily sprinkled with RBS Morgans execs + an as yet unnamed (probably Dave Mason) option holder taking up 2.5m shares - I think a few heavy hitters seem to be of the same frame of mind as me.

Regardless of my opinion - With the bids supposedly closing tonight (Albrecht sale document) and TXN management saying they think a sale could be finalised by mid June (Quarterly pg2)- we're all going to find out for sure pretty soon.