looks like RBS shares my sentiments. This just came out by email from one of their brokers (I particularly like the comments about John Armstrong's options)...
"More volatile trading in the company's shares today - prompting some commentary - though the ultimate picture hasn't changed.
Just re-iterating from the last update:
?Drilling of the next 2 Eagle Shale Wells has commenced (1 in June, next in July)
?Results expected in August in line with previous wells (Ultimately will double production and reserves)
?Next Olmos well being drilled now - production tested in August
?First Wilcox well due for drilling and results in July
?Sept/Oct Large gas structure of Scarborough to be drilled
TXN has seen significant selling into sadly illiquid markets - more a reflection on risk aversion and negative sentiment from global macro-economic issues (Greece. US Growth) than business specific issues.
I trust sellers will finish selling at some point and our upcoming catalysts will underpin value in the future. No company news exists to warrant the share price drop.
No change to price targets or BUY recommendation.
A reminder the Chairman accepted 250,000 options at 75c - no one would be closer to the long term expected value of the company's assets. That was 3 weeks ago!
I look forward to the major well results in August."
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