Hi folks:I feel the pain (especially today with a 5% fall!). But...

Hi folks:

I feel the pain (especially today with a 5% fall!). But there is an upside. TXN doesn't exist on vapourware. The land value is real, just poorly executed to date. (the SEA/Helis Bakken sale is a good contrast!) With concerted CEO effort, TXN will announce wells, restructuring, and maybe even a land sale eventually!

Also remember that we don't suffer alone. I seem to recall (can't find info atm) that Dave Mason and his family own a huge chunk of TXN stock. And CEO Foss will be out millions if the options don't hit their trigger price.

What does bug me is how this mob could bungle the sale (their explanations were pitifully naive). It also bugs me that they were NOT doing much else during that five month process. Should shareholders demand that the CEO punch a time clock? Hopefully this group got the message at the special meeting that shareholders aren't impressed and that Mason's directorship might have questionable independence (i.e. he is a primary contractor through Wandoo, so may have a conflicting allegiance to represent shareholders).

So, in spite of buying at much higher levels (but fortunately sold a bit just before the special meeting in case the deal was delayed), I bought more this week. Feels like a risky buy, but most buys feel risky when the stock has fallen badly with some of my assets on board.