Serendipity, great lateral thinking! I hadn't considered the idea of SEA breaking the sale, just TXN breaking for a better deal.
Still a slim possibility of SEA breaking because I doubt the two wells this month will do poorly. In spite of TXN's mgt record, the company does have a perfect record of above 1,000 BOPD for the previous wells on their EF acreage.
I concur with others that things will be getting interesting, even if no other suitor comes along to up the price of TXN (oh, where are you?!?!?!!!). First, there are announcements this month and maybe Feb of the new wells. Next, there is the acquisition process, and then the emergence of Talon and its unknown potential and risk. Finally, later this year there will be a flurry of production on the EFS acreage.
Hopefully good times ahead for all!
TXN Price at posting:
38.0¢ Sentiment: None Disclosure: Held
