TXN 0.00% 58.0¢ texon petroleum ltd

recent efs sale, page-4

  1. 592 Posts.
    As you are very aware, from the last report,

    "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)

 
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