Hi folks:DrDann, I agree fully that you should challenge...

Hi folks:

DrDann, I agree fully that you should challenge malmoe's doubt about a sale process. I should have acknowledged that in the earlier post, sorry. And the moderator obviously concurs (deleting malmoe's post).

Esteon, you hit squarely on an observation that some/most of us (me included) overlooked/forgot, namely that TXN is trying to sell rights to specific formations while they retain rights to other formations in the same area. I recall that (now), but admit i haven't heard of sales where the seller retains rights to specific oil/gas layers.

If trying to sell specific formations in an area is unusual, then TXN may be trying to squeeze out more sale value than is feasible. The key issue is one of present value -- how long should shareholder capital (investment) be tied up waiting for the very highest bidder who would agree to this at a price that pays off the CEO and board share options.