Significant Balance Sheet flexibility established for accelerated development and/or additional Eagle Ford opportunities
RBL Borrowing Base redetermination to occur in August 2012 based on PDP growth from first half 2012 activity and PDP from recent acquisitions. March 2012 redetermination to $85 million expected to increase significantly.
Cash on hand 30 June 2012 $119 mill
Net Working Capital 30 June 2012 (excluding cash) (103)
High Yield Follow On Issuance – net of costs $163 mill
Pro forma 30 June 2012 net cash $179 mill
Undrawn Revolver Facility $85 mill
Financial Liquidity 30 June 2012 $264 Mill
TXN Price at posting:
55.0¢ Sentiment: Buy Disclosure: Held
