how does this look?

Hi holders. I am very new to looking at this one (so go easy :)).

Ok, so I read heaps of the ANN's and posts last night to get my head around this company. Felt like I got it sorted a bit. However, I read this, from the Letter to shareholders in March, and got curious:

"7,100 acres of leases where the Pearsall gas/liquids reservoir is the target below the Eagle Ford. Based on NuTech analysis of one well, the resource potential to Texon could be about 1Tcf of gas in place with 50 mmbbls of liquids in place. It is likely that this would be part of an Eagle Ford transaction..."
______________________

What did the above potential have to do wit the EF sale? Then I came across this post by RichE, who was writing about tax, the above seemed to make sense on a forward strategy by the company. Post #: 7862023, by RichE:

"1) sale of EFS by TXN. Section 1031 of the Internal Revenue Code allows for the redeployment of capital from the completion of an asset sale of one project into another project within 180 days without the realised gain being recognised at the time of the exchange."
_________________

I figure tax issues can be an issue (this was a problem with Eden taking over AMU). So, I am figuring that putting 1+1 together, the company could sell EF and fold Pearsall in at a similar time- or within 180 days, as per RichE's post.

I am not sure that this has been discussed before, so what do you holders think? Certainly the reference from the company, "It is likely that this would be part of an Eagle Ford transaction..." does seem to work.

Thoughts?

Disc: I don't yet hold.