"The Company has 7,196 Eagle Ford working interest acres under lease (93.3% WI in 7,712 acres)."
WI, I assume means txn pays for 93.3% of the drilling over the entire acreage.
If the entire 7,712 acres is sold what amount of the proceeds does txn net?
Also for the 5th well drilled,
"Texon will have a 82.2% WI (61.6% NRI) in the well" - are there deals like this for all the wells which average out to give txn a 93.3% WI,(txn possibly owns some outright)
TXN Price at posting:
54.5¢ Sentiment: LT Buy Disclosure: Held