Today, SEA announced the sale of about 3,900 acres working interest of South Antelope field in the Williston Basin. This sale offers considerable clout for shareholders in the forthcoming meeting :
1. SEA's sale price was $44k/acre -- $172k for about 3900 acres. NOTE TO TXN DIRECTORS: TXN should be able to sell its Eagle Ford property for that price or better (EG is a more valuable field than Sough Antelope).
2. SEA's partner (Helis) first announced its intention to sell less than two months ago. NOTE TO TXN DIRECTORS: it doesn't take a lifetime to sell valuable oil property rights.
TXN Price at posting:
54.0¢ Sentiment: None Disclosure: Held