TXN 0.00% 58.0¢ texon petroleum ltd

sea's sale --txn directors take note

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    Hi All:

    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.
 
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