more scuttlebutt, page-14

Happy new year all ... back from sitting on a beach for a couple of weeks. The TXN trading days in my absence look like the old Bold & the Beautiful series. I've been away for two weeks and not much has changed.

Nice find Jaxin.

I ran a little check on that article just to see where it was coming from. The author Rimin Dutt works for an AFR subsidiary called MergerMarket.

I find it interesting because
1) TXN currently has $20m+ in the bank + proceeds from the Olmos sale (say another $15-$20m) and they keep indicating that they are going to sell their EFS holdings = why do they need "strategic investors" to help fund its drilling program. While I haven't spoken to the new CEO (Clifford Foss)- I have spoken to the other directors over the last couple of months and none of them have indicated anything like this. So I'd be very interested to know who the company source is

2) To my knowledge only three firms have covered TXN = RBS Morgans, Pattersons and Strachan. All three have current valuations in excess of $1.10. So I'd be fascinated to know which are the two "sector" analysts that Rimin spoke to.

3) Adopting the most conservative valuations method of $23k/ac for EFS + cash + olmos sale gives a current valuation = (23000x7200 + 25m + 20m) = $211m

Might give Rimin a call .. will advise if I can find him