imho texon will have to commence a wilcox well on the coolangatta target
Potential 4 mmboe(1) Gas / Liquids TXN WI :94% Vertical Well Cost:US$1.6 Million (dry hole) (2) Possible Initial Rate:3‐4 mmcfgpd Success case payout :7 months Drill Q2 / 2011
(1)As to TXN WI (2)US$2.2M drill, complete, connect
i am posting up a few maps
one is recent texon leasing activity, the dots represent regions where texon have leases
the second map i posted up is wells that have produced more than 50,000 bo cumulative in the wilcox
you can see that there is a good history in the nearology
TXN Price at posting:
70.0¢ Sentiment: ST Buy Disclosure: Held