TXN 0.00% 58.0¢ texon petroleum ltd

the good news, page-5

  1. 1,370 Posts.
    lightbulb Created with Sketch. 3
    DrDann, I think the suffering will end (or at least abate) within the next 4-5 weeks for a couple of reasons.

    TXN's forthcoming wells might be very productive and share enhancing. TXN's past Eagle Ford wells had initial IPs of 1000 to 1400 bopd (yes, that's oil only), and the wells now in development should produce even more due to greater lateral length and number of fracs. (My prediction is initial IP of more than 2000 bopd, but I'm neither an oil expert nor soothsayer.) If these wells produce nicely, then TXN shares will rise accordingly in January.

    Meanwhile, SEA will provide a quarterly update by end of January (although they SHOULD be communicating with shareholders by now on significant production events). If SEA reports good production and progress, then its share price will rise, which would assist TXN's share price.

    So, maybe TXN and SEA share prices will rise nicely long before March. And, of course, if there is another bid for TXN, I would think it would occur by January before merger proceedings get too far along.
 
watchlist Created with Sketch. Add TXN (ASX) to my watchlist

Currently unlisted public company.

arrow-down-2 Created with Sketch. arrow-down-2 Created with Sketch.