Actually I think they have valued texas at over $200m based on in-ground value. It was definately more than the $10m you pessimistically prescribe. And pretty sure the reserves were proven too. More research by yourself will uncover this!
As for the 165 - are they not drilling more wells to increase this production? Reading the announcements every time - they are saying they've done so!
Actually I think they have valued texas at over $200m based on...
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