pippen, I suspect your thoughts reflect the views of most TXN...

pippen, I suspect your thoughts reflect the views of most TXN holders.

To put a light on, though, I think TXN's problems were in the March to August period, and are now turning around. Foss and board seemed to be naive and unduly boastful in their expectations about the EFS sale, while leaving the business mainly dormant when they should have continued to build the business.

TXN seems to have been comatose from March to August -- no new land acquisitions (that i recall) and no new wells drilled for production or exploration (except EFS #5, which was required). I doubt those actively involved in day-to-day business actually worked full time. It puzzles me what they were doing from March to August beyond occasional negotiating.

Fortunately (I think), TXN may have come out of its comatose state by early September. Perhaps mgt/board got the message at the special meeting or from the embarrassing lack of EFS sale by August that their performance has been woeful (no sale, no production, limited/no exploration).

I think that TXN's current activity (stated in recent update) -- new production, new land, new exploration -- will translate into asset appreciation and increased share price. These developments may even have a positive effect within the next 2-3 weeks as the new well results are announced.

Meanwhile, please DYOR.