Rich, Sorry if I misquoted you. I just took a quick read at you suggesting $20 in ground & lazily overlooked your comments on discounting for circumstances peculiar to TXN. $20, of course took us to over $1Bn for 55M bls.
Lucas Energy(Nasdaq-LEI) have some EFS acreage for sale. They've brought in the valuers, too. Their MC is $53M as a producer, also sitting on EFS acreage worth $94M, but I don't have the acre numbers to hand. (I think they mentioned $20K/acre, based on past similar sales, which would make about 4,700 acres) I can't finish the story, cos I haven't got time now to look up TXN's acreage - sorry - bit of a ramble... Yes, 65c should be the base to kick up from. 100% is $1.30 for MC of $320. (Maybe that could square me with the T/O of SBL) Cheers, japes.
TXN Price at posting:
67.0¢ Sentiment: Hold Disclosure: Held
