My Sunday muse as the title suggests is the path we are about to...

My Sunday muse as the title suggests is the path we are about to head down with regards to the sale of the EFS asset.

Now if I was the CEO of a supramajor oiler with a plenty of onshore drilling capacity in the US I would be getting the chequebook out to buy TXN outright.

Reasons as follows.

My rigs have to be drilling for oil cos the price of gas is uneconomic at current prices.

I am looking for a proved oil producing area with good infrastructure in place and several wells already drilled with good production numbers.

Capital investment cost not too extravagant ( a couple of hundred million dollars) would be a great little acquisition.

Okay TXN seems to fit this criteria quite nicely. Now what's it worth???????

Cash in bank at last quarter of $26 858 000.00 and turning a small profit on production... nice nice.

Market cap of $113 943 848.00. Hmmm seems a little on the cheap side maybe the Aussies don't know what the EFS is worth .... EXCELLENT!

So minus cash it's going to cost me $87 085 848.00 to buy the whole company....bwahahahahahaha what a steal!

Wait that values absolutely prime EFS acreages at $12 101 per acre and I get all the other assets thrown in for free!

SMITHERS WHERE'S MY CHEQUEBOOK!!!!!!!!!