financials due out tomorrow, page-4

hahahaha..."yawn...

are we there yet?"

Yeah - that just about sums it up.

From the sale doco hanging on Albrecht's website:

"The Data Room will be open from March 19, 2012 through
April 27, 2012. It is anticipated that negotiations will be concluded by May 2, 2012.

The effective date of the sale will be June 1, 2012."

60 days until the "advertised" completion date ...mind you we all saw what happened to the olmos date..

Still I'd have thought that anyone serious about potentially buying the EFS leases would be likely to lob an offer in for the company + give the company time to respond eg allow time for an EGM if a vote is going to be required (28 days notice required from memory). My guess is that the sweet spot for that would be across the next 2-3 weeks.

This would have given a potential acquirer plenty of time to pull the data apart, place a bid, a month for the company to call a meeting and then two weeks to deal with the knock on - all before formal offers are due for the land alone.

This of course assumes two things
1) that the EFS is worth more than $21,175/ac in total (and if you use $10m for each of the producing wells(total of 320acs), take that from the current market cap of (0.63x242m)$150m and divide the remainder by (7,200-320)6,880 = $16k/ac)
2) more than one party is potentially interested in the acerage.

Watch for a trading halt I guess?

Alternatively TXN will just release a sale price on some quiet Tuesday morning in June.

Will the wait be worth it? John - negotiate angry! and Clifford - earn your money for us!