Look guys I realise this is the TEX thread,but that article is extremely misleading.It has obviously been written by someone who has lost money on the stock or knows others who lost money on one of the last floats of 2008 before the markets tanked.Ironically,KOG has been extremely successful in their first drilling campaign,with six out of ten discoveries and two others which will require further work.Of course the SP has tanked,along with TEX,ODN,AVD,NDO,AMU and every other spec oiler out there,so judging success by SP is not really fair in this climate.Success is simply not being rewarded as risk aversion besieges the market and is not really the fault of management.To get performance options while those that bought in at float lose money may seem unfair,but they were listed in the prospectus and thats the market ATM.The management delivered as promised.As for the reserves estimate not being independant,if it was not all above board,the ASX would have something to say.Read between the lines,that article smells of sour grapes...and the true investors will eventually be rewarded by their patience,not the short term traders.Anyway,someone out there must like this deal,because the SP of all three parties are up today.Maybe some think TEX needs a change of management,because if you use SP as a measurement of success,they stink.By that logic,they have left TEX vulnerable to this sort of attention by undermining the SP.
TEX Price at posting:
3.5¢ Sentiment: None Disclosure: Not Held
