All holders would love a takeover at 11 cents. That's just a...

All holders would love a takeover at 11 cents. That's just a crazy number imho. If anyone were to propose a takeover it would more likely be at 2 cents in this market. Santa Claus may offer 11 cents....nobody else will. Companies with cash will make plays (see WPL for example) but they will be very selective and have incredible leverage simply because they have that all important commodity ..."cash". They can make plays for assets they really, really want and current owners were not even thinking of selling 6 months ago. Companies which require further cash to survive will come under increasing pressure. No one is going to pay any premium for TEX...just not going to happen...Even in the permian, slowly but surely drill rigs are becoming available...the pace will only speed up with oil price at current levels. Prices of leases in Permian are also dropping already. Barring a magical recovery in the oil price, TEX will remain in a lot of pain for some time to come. Buying at 3c may seem cheap now but my money is on you being able to buy this cheaper yet in the new year. .... Not a nice Christmas story...I know. Hope Santa is kinder to everyone than TEX will be.