good buying at .39-lookout for txn xmas pressi, page-5

in the lesser regions of the far northern sections of the oily efs belt. in frio and lasalle, american standard had a little bit of success and "erratic production" with its 2 wells and with "performance issues".. that has forced this desperate fire sale price of $13,666 per acre to pay off debt




American Standard Energy Sells Eagle Ford Interest

September 18, 2012

American Standard Energy Corp. and its affiliates announced that it agreed to sell approximately 1,200 leasehold acres in its Auld Shipman project in Frio and LaSalle Counties, Texas, to Antler Bar Investments LLC for total consideration of approximately $16.40 million.

"While Auld Shipman has the potential to be a solid Eagle Ford producing asset, it was simply not the right asset at the right time for American Standard," said Scott Feldhacker, CEO of American Standard.

"The ability to reduce our payables and debt by over $16 million and eliminate nearly $2 million in monthly expenditures was a prudent move for our company at this stage in its lifecycle, especially given the erratic production history of the field and infrastructure performance issues we experienced," Feldhacker concluded.

makes the texon efs acreages with none of those issues seem rather questionable and undervalued by the market currently imho...

ip's for texon are considerably better than that..

triple the the picken leases and practically double the others..

my own view is that + $30k per acre is not unreasonable..


all imho and dyor..