anyone actually holding???, page-6

I'm starting to change my mind as to whether this is just a P&D play... with the right investors on board there may finally be some value here.

Current market cap is $9m, with what I estimate to include more than $2m cash - given recent issue of convertible note ($650k), 23m shares to sophs ($700k) and over $1m cash reported in the last quartely.

Of course - more cash is to come with further placements at 3c ($2m) and the rights issue ($900k) - but this is subject to shareholder approval.

So soon TEX will be a $12m company with $6m in cash and lots of drilling prospects on the horizon.

At 10c it will be worth $24m (given upcoming dilution) which is not inconceivable given the massive oil and gas targets in place!!

Anyone else think there's value here??