asx260, In my humble "small time trader" opinion, but with many...

asx260, In my humble "small time trader" opinion, but with many years of experience (I notice you've only been a HC member since May) -- Pump & Dump is a reality, ESPECIALLY with small cap oil and gas explorers, and ESPECIALLY after a large CR to sophisticated investors.

Once the soph's 3c shares start to hit the market there will undoubtedly be long rounds of profit taking.

Being sophisticated investors, they are far more risk averse than the average punter, plus they are risking far more coin i.e. 100's of $1000's, compared to my meagre $10k. They are more than happy to take small profits.

They will be looking to milk tex in the mid to high 3's for months IMO, and if drilling is delayed or doesn't go as well as planned, watch out. TEX has suddenly become a very risky LT investment at current SP levels IMO, but may be worth trading if you can pick them up in the low 3's and sell into the high 3's or above.

Depending on how deep the sophs pockets are, they may pump this some more tomorrow and next week, but it would appear that the pump has already run out of steam...

On the upside, if they find significant oil and gas then sure, there could be some excellent profits to be had. However, we know very little about the details of their plans, so it's all speculation IMO. Unfortunately, TEX's track record of destroying long term shareholder wealth leaves me with little confidence in a bright future for this company.
Cheers.