let the games begin!, page-59

hey peacepipe

primarily adding to my txn position as i am allowed

there are not many people out there who know much on the EFS.. a good friend of mine reported some nice info on the PXP ops in karnes county, may look at them on their exchange

there are very few on these forums that i would take any notice of on the EFS, i suggest estseon and nursery have a great grasp on the EFS imho, brilliant investors and genuinely nice people, but apart from them i dont see anyone else out there with anything worthy to say on the efs that i would bother with.

lot of pure comedy being posted on the threads of late, which is pure gold.. we shall see a lot of the anti txn rhetoric from the same ole usual suspects.

unlike any of the better forum posters, you have a crowd that will spit venom at txn and anyone holding the share. rather than actually contribute with commentary that has any value or actually makes sense. the way i see it, i love anyone to make a dollar on an investment, and i first and foremost invest only where i see good value and where i know the announcements coming are transparent as possible and you can see there is no smoke and mirror type strategy going on. i avoid shares where the forward planning is impossible to calculate, or where companies dont disclose where they will drill wells and what WI they have in those wells. wysiwyg.. so if you cant see it, then what you cant see is what you must expect... and thats often some massive holes...

when ever i see commentary that one would not openly say to a MD or chairman of texon, then i simply disregard it outright and look at the motives for the post.. the simple facts on texon remain, the share really is a $1.16 share short term and the research notes i see, and i give way more credibility to than the pure comedy i have seen recently.. the FY11 (yr to dec) EBITDA is $25 mill i believe atm.. they do say this.. Our NPV calculation determines a value close to A$10 per boe. Risking this to 50% generates a value close to A$0.90/TXN share. Successful production testing of Teal EFS #1H would be expected to see this valuation rise.

but i am not concerned on my holdings in txn nor do have any issue with adding. texon has commenced its maiden horizontal well in the efs with an outstanding ip and is on the way to fracing its second efs well in about 45 days. the first well is connected to the sales pipeline and generating EFS revenue as we speak..

what i am very impressed with texon with is the olmos sands, its really being forgotten how lucrative these vertical wells are, texon will drill many more in the coming months. high value in the gas and good oil producers.

but whats outstanding to me is how the efs well has outperformed the swift san miguel well, which sits front to back with the tyler ranch 1h texon just completed.. texon are looking at very innovative and very comprehensive frac designs which have delivered a staggering result for texon in the EFS as operator.

i have a lot of time for texon, its one very well run outfit, brilliant operator, extremely good and highly respected industry oilmen, dave mason and john armstrong have impeccable record, just look at their bios..

if someone with better credentials comes on the forums, and actually has oil experience and is qualified to comment or critique, then i would listen..

i recall that john campbell calling the EFS a dud for many a year, giving the EFS farmin companies a hard time, but was proven wrong despite his alleged vast knowledge of the oil industry.. i have had the bombardment of critics for such a long time, spiteful HC members whom have stated openly they would hate to see me make any gains on any share i invest in.. lol.. but i keep on researching and make sure my investment is going the way i want it to go..

bets of luck peacepipe and good luck to all texon holders.. dont get sidetracked by the usual suspects bombarding the txn threads.. they have no understandings on how texon is developing its acreages and how, as operator, they are primarily planning on delivering maximum value to their shareholders.

big few months ahead for txn, very very much under the radar, and currently at prices i know many are adding to with delight.