stlamci see all sides of the leases being attacked hard by the...

stlamc

i see all sides of the leases being attacked hard by the all competitors, talisman, swift,chesapeake.. smashing it with rigs all around forcing texon into competitive clause lease wells. imho they are needing to drill at least 3 more, so i can see why SEA is preparing to have a rig on the leases for a longer stay to clean it all up.

swift say they have their mcmullen acreages sewn up and all held with wells, so the newer bout of wells are purely strategic.

imho it reflects badly on the bidders that the only strategic hand they have is not to purchase the land but to go into the data room, get all critical data and then walk away from negotiations and play the card of wait and talk to the liquidators when the company is unable to drill, or wait for the company to heavy dilution to get capital and then go for an on market takeover..

the SEA deal, is totally undesirable in terms of pathetic value per acre, infact its outrageous the price.. the position of being forced into it really makes it a shocker to the shareholders.

but think of how ridiculous the bidders look, they have the situation where they are known to now so inept, they cant even beat a $12k per acre deal of EFS... lol

so the respective boards are really showing themselves up, how can major shareholders have confidence in the bidders when they cant even seal a deal with texon for a $12k per acre deal.... i know i would be thinking on that hard myself..

with the opportunity still out there, there are still options for texon and its efs acres currently. but worse case scenario, if the acres go to SEA, the fact that SEA is now literally cash value only, is perhaps a concern.. if no value is given to their operations, no reserve value give, then as it spends that cash it may also devalue further and further..

we shall perhaps find out next year what happens when sea spends its cash, but its pretty alarming that the only value it achieves is basically near to cash value only.

opportunity is there for amazingly cheap acreages to be had, texon is making it attractive for US bidders by presenting a clean EFS package.

will they let it go also? imho there will never be an opportunity to get 8 producing EFS wells and 7,500 acres leased for $12k ever again.. its UNBELIEVABLE!!!!!!