The Texon Directors believe that in excess of $90 million will be required over the next 12 months for Texon to deliver on its continuous drilling obligations required to hold its leases in respect of its EFS assets. If Texon
is unable to secure such funding, there is a risk that some of these leases may be terminated.
How did they allow it to get this bad? They took a punt at our expense and failed.
they just can't get it right, page-2
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