Have to relax on this stock. After all everyone else is asleep. no one trading for the merger with SEA so SEA is starting from scratch. Usually by this time in a proposed merger 20-30% is owned by traders who will sell into highest bid, but not here. Almost no volume. So what will happen, No idea, Acres are very cheap a steal, but who would bid before the new wells have IP rates? So we wait till mid - late Jan. Management have borrowed at huge interest rates. $4 mill interest. What do they care, there options are way in the red. If the wells are gushers maybe we get another bid, and we all win. Personally I hope we get a couple of bidders if only because the data room was open for so long and there were many companies through the room. So maybe there are others who covet the acres. If we drill enough wells to hold the acreage and can repay the loan, 2 mill in 6 months, 22m after 12 months plus 1 mill break fee in 2 or three months. (wow we need lots of oil! but possible). If it works then management are great else they will be said to be lacking. I like the management are trying to get there 70c options in the money. Go incentives. Anyhow oil in US is back over $90 Good luck all and DYOR
TXN Price at posting:
38.0¢ Sentiment: ST Buy Disclosure: Held
