TXN 0.00% 58.0¢ texon petroleum ltd

Hotfire,"Any news releases would be designed for a CR sting...

  1. 640 Posts.
    Hotfire,

    "Any news releases would be designed for a CR sting imo."

    Maybe - but the other option is the sale of the M/R Olmos. They sold the Leighton Olmos for $12.4m pre tax in March this year.

    there's a map on pg 2 of the announcement 7 March 2012 showing relative areas.

    If they could get $20m (then pay 35% US capital gains tax = $13m net) for the M/R Olmos that would keep them going for another 6-12 months. Add that to the opening cash and a CR could be pushed out 1 to 2 years away.

    Its a scenario that must of occured to John/Cliff
 
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