Fantastic results, it’s also very pleasing to see both TXN and...

Fantastic results, it’s also very pleasing to see both TXN and SEA have both jumped upwards. Would have been frustrating to see both respective share price’s remain flat after not one, but two extremely good back to back results.

RichE,

After SEA re-imburses TXN the associated costs of the wells, the price SEA pays will end up being a lot more than $107 million which is reflective by the merger at current prices. A lot of money has been spent and will continually be spent since the merger, and that will just get added to the bill at the end.

Cash offers would have to be very big, as otherwise TXN would have to cough up loads in tax. That’s what’s attractive with merger deals.

TXN want to divest the EFS project (and are pretty much forced to considering lease agreements and TXN’s woeful financial position), but want to avoid the associated tax. Hence why the SEA merger comes into play.

Of course a company like AUT could offer a script merger, however it continually seems that they are purely looking at acquiring further % interests on their current MRO operated assets, and not actually acquiring land.

Good luck to us all I say!