I think the market currently has it wrong as well. A bit in the same way the market priced EKA down to 17c six months before the takeover and the way SEA was down at 40c before selling South Antelope.....
Do you know what Texon currently pays for a horizontal well? I know in the Albrecht doco they have estimated around $9m so probably something similar. I think I remember reading a month or so ago a swift energy briefing where they were talking about sub $7m EFS wells for 5000ft laterals. If this is correct the ability to save $2m odd per well would increase the land value quite significantly you would think. Im not 100% sure that they were talking about their Mcmullen acreage though.......
TXN Price at posting:
34.5¢ Sentiment: Buy Disclosure: Held
