has it bottomed?, page-11

There's been very little volume. The ASX 3 month chart shows that just a moderate increase in volume can result in a twitch upwards of several cents.

There's yet another Euro summit fast approaching as well as year end planning and Cypress now holding its hand out, so there are plenty of reasons for a few investors to cash in and stand on the sidelines.

This slide in POO will hurt the tar sands producers and the offshore producers and the benefits of relatively cheap onshore, quick return, production will become even more attractive to the cash-rich large O&G companies. Sure, they'll try to exploit any vendor weakness and try to trim the offer price but TXN is not cash-desperate. And, whilst the power of OPEC to fix prices might not be what it was, it is still a power to be reckoned with and the Saudis recently re-iterated that they are looking for a price of around $100.

The expired option debacle did confirm one thing - TXN does not have a large overhead to support. It should be able to weather the downturn.