The flows are good and very liquids rich as you point out.
TXN seems to be off the radar, it has been a while since I have seen a substantial holder notice from a fund.... according to the AGM presentation the top 20 hold just 30% of the company, relatively little I compare to other companies. I would have thought with all the cap raisings we would have a fund or two heading over 5%. In fact the only notice I seem to find is from Seitel who have reduced their holding!
Anyhow excellent pick up on the comparison to an AUT / Hilcorp well. AUT type flows haven't been factored in at all into current valuations... TXN is looking cheap.
----- DYOR not investment advice
TXN Price at posting:
70.0¢ Sentiment: None Disclosure: Held
