Comparisons against my guestimatesQtry Av daily prodbopd 450?...

Comparisons against my guestimates

Qtry Av daily prod
bopd 450? 466
mcfg 600? 571

Qtry Total prod
mbbl 41? 42.9
mmcf 50? 58.1

Closing Cash
$m 20? 16.8

cash is a little lower than expected but its hard to track when
a) they don't publish receivables as I think TXN gets payments about 45 days after delivery and
b) we're never sure of the payment terms for the new wells. eg I think at the end of last qtr TXN had not yet paid for the fracc on the previous well.

All up no real surprises on the cash & production fronts.

Points of interest
a) EFS JV was finalised 24 October. Makes me wonder both why they announced it at all during the EGM if it wasn't complete and again why they didn't announce it was finalised on the 24th. A week delay.

b)Quintanilla SM EF#1H spudded 16/10 and was announced 24/10. Again a week delay to announce

c) Hoskins EFS #3H spud on 21/10. Interestingly in the announcement 24/10 they said "Scheduled to spud by the end of October". Advance notice after the fact.

All great advancements/achievements but its absolutely mind boggling that during a period of such share price weakness they weren't crowing each from the roof tops AS THEY OCCURED and with multiple announcements.

Maybe a potential suitor put a gag on them but I'd have though TXN were pushing the boundaries of continuous disclosure.