Alas not expecting $68,000 per acre but will be disappointed if they don't get over 50%. -note have been disappointed many times in past, these are just my thoughts.
For one thing when AUT bought the acres (in May i think from memory ) oil was over $100.
AUT also had a share of the same acres so perfect synergy
Also AUT bought acres in the Sugercane field which has demonstrated they can place wells optimally sharing revenue with their neighbors. TXN has all their wells entirely within their own acres raising question of cooperation between their numerous (my guess) neighbors.
AUT may have paid top dollar, no indication there were others willing to pay the same price. But the already owned part of the acres they bought and should know the numbers better than us
Also no indication that AUT is interested in these acres.
Still I think these are great acres and hoping for the best. Proven acres partially developed in the EFS the premier shale field in the US.
TXN Price at posting:
47.5¢ Sentiment: Hold Disclosure: Held
