Target TEX

[vr]

Positive news following completion at Snapper A3
http://www.asx.com.au/asxpdf/20091029/pdf/31lpwqg1jxqnrw.pdf

[stephens.pc]

Should shares and options from the rights issue have been assigned by now?

[snowball]

Should shares and options from the rights issue have been assigned by now?

Yes. Were both shares and allocated to accounts on 29 October.

The issue was only 76% subscribed, including overs subscribed for. The balance picked up by the underwriters - assume picked up by broker clients.

[Dr_Who]

This one is going into my ... it is a dog basket. I dont know why I paid for the rights, maybe there is still hope in my heart for a big strike... lol

Bermuda, where are you mate? You still in this one?

[snowball]

This one is going into my ... it is a dog basket. I dont know why I paid for the rights, maybe there is still hope in my heart for a big strike... lol

Bermuda, where are you mate? You still in this one?

Still about 7% to 8% up on 5.5 cents rights price counting shares and options (TEXOB).

Opts seem to be trading well but weakness on shares - assume waiting for something to happen on Highway 71 over the next 4-5 weeks and clearing out of overhang, which could take a while.

[bermuda]

This one is going into my ... it is a dog basket. I dont know why I paid for the rights, maybe there is still hope in my heart for a big strike... lol

Bermuda, where are you mate? You still in this one?

Doctor,
Yes, still here. If I thought CSG takes a while these little oilers take forever. Got a prompt email reply from Laurence Roe yesterday .A lot of activity coming up. But I wish they would get that oil zone at Snapper 3 up and running.

Life is a Highway. Well., I hope so.

[bermuda]

Doctor,
Yes, still here. If I thought CSG takes a while these little oilers take forever. Got a prompt email reply from Laurence Roe yesterday .A lot of activity coming up. But I wish they would get that oil zone at Snapper 3 up and running.

Life is a Highway. Well., I hope so.

Hi Guys,...and Strat

Have a look at TEXOB.
The best option play I have ever come across. Lost $NZ 26k on TEXO but up $NZ 34k on TEXOB already. TEXOB will be a multibagger. And TEX will be also.

As always DYOR,

Life is a HIGHWAY.

[Corporate]

Hi Guys,...and Strat

Have a look at TEXOB.
The best option play I have ever come across. Lost $NZ 26k on TEXO but up $NZ 34k on TEXOB already. TEXOB will be a multibagger. And TEX will be also.

As always DYOR,

Life is a HIGHWAY.

Good work bermuda. What is the exercise price of TEXOB?

[bermuda]

Good work bermuda. What is the exercise price of TEXOB?

Corporate,
You are not going to believe this.

These 10 cent ( yes, 10 cent ) options expire on 31/10/2012. Grab yourself a feast now.

TEX could be in the twenties very shortly. TEX currently 7.0, TEXOB 3.1 cents.

Life is a highway.

DYOR.

[Lion]

Hi Guys,...and Strat

Have a look at TEXOB.
The best option play I have ever come across. Lost $NZ 26k on TEXO but up $NZ 34k on TEXOB already. TEXOB will be a multibagger. And TEX will be also.

As always DYOR,

Life is a HIGHWAY.

Hi Bermuda - I'm in on this one too, although at about 1/10 of your involvement. I bought some rights recently, which converted to TEX at 5c and TEXOB at 0.6. Then I got more TEXOB on Monday of this week at @1.8. I reckon they have heaps more to run, too. There are several announcements due out over the next few weeks.

Shame about the old TEXO options though. I actually PM-ed you about that. I'd wondered if they might give say, 1 for 10 new for old options. Someone on HotCopper wondered if TEXO might sneak back into the money. Almost zero chance, only 4 days of trading left. No, we'll just move on from that, to a very exciting future.

By the way, I can't get on to HC this morning. Anyone else having that problem?

[airedale]

Corporate,
You are not going to believe this.

These 10 cent ( yes, 10 cent ) options expire on 31/10/2012. Grab yourself a feast now.

TEX could be in the twenties very shortly. TEX currently 7.0, TEXOB 3.1 cents.

Life is a highway.

DYOR.

Hi Bermuda, could this be the start of a late run for you to the the ST Comp. finishing post on 31/12/09?
I can already sense your hot breath coming up behind me.:D

[Dr_Who]

TEX could be in the twenties very shortly.

DYOR.

You are getting me all excited.

[bermuda]

You are getting me all excited.

Dr,
I get excited every day but I have to admit this one is giving me butterflys. Same sort of feeling as when NZOG drilled and failed near Tui. Hey, at the end of the day the drill bit does the talking.

But all the same this could be big.

[Corporate]

Dr,
I get excited every day but I have to admit this one is giving me butterflys. Same sort of feeling as when NZOG drilled and failed near Tui. Hey, at the end of the day the drill bit does the talking.

But all the same this could be big.

Hi bermuda, I've taken a look at the latest TEX presentations and so far haven't got the same feeling.

Could you outline quickly in your opinion why there is value in this company?

Cheers
C

[Financially dependant]

20 millions shares traded today so far.......the traders are in and the stock is very hot.....It feels like someone started to accumulating to start this off....no new significant shareholders announcements yet but....:rolleyes:......Highway 71 looks the goods.

[STRAT]

Hi Guys,...and Strat

Have a look at TEXOB.
.Hey Bermuda. Im a guy too you know :D

anyway bought some TEXOB today.

Its hard not to get a bit excited when you are excited.

Havent had a bum steer from you yet.

no pressure mind you :D:eek:

[bermuda]

Hi bermuda, I've taken a look at the latest TEX presentations and so far haven't got the same feeling.

Could you outline quickly in your opinion why there is value in this company?

Cheers
C

Corporate,...
Reasons are

1. Laurence Roe impresses me. He has made mistakes before and learnt from them.
2. Only 157m shares on issue.
3. Company strategy ( see AR ) works well in a USA infrastructure.
4. Excellent operator in Hollimon.
5. Is in a better position now than 2 years ago when it hit 28 cents.
6. Has a high impact well at Highway 71 which has already hit significant gas on the way down to the prime targets.

The trade today has been at record levels ( plus 20m ). It is getting me excited. I first bought in in June 2007 so it has been a long wait. Hold 3m at 4.6 cents average cost.
To get it at that cost I have had to average down. That's how much I like this company.

Somethings up.

[hector]

I held these a couple year ago for a short while. Back in again now.
SP very highly leveraged to any success. MC about 11mil - think it could eaisly double.
Chart looking like its going in the right direction. (but not today!)

[STRAT]

I held these a couple year ago for a short while. Back in again now.
SP very highly leveraged to any success. MC about 11mil - think it could eaisly double.
Chart looking like its going in the right direction. (but not today!)Someone is playing with TEX today, TEXOB in particular. Those wonderful people at Pattersons perhaps :rolleyes:

[OutToLunch]

More gas finds at Highway 71 announced this morning. I'm yet to fully understand the significance of the finds but the punters over at HC look excited. Might be an opportunity to sell into the spike and shovel some more funds into BOW while the share price is being held down by the capital raising.

[Aotea]

More gas finds at Highway 71 announced this morning. I'm yet to fully understand the significance of the finds but the punters over at HC look excited. Might be an opportunity to sell into the spike and shovel some more funds into BOW while the share price is being held down by the capital raising.

I hold TEX, and will continue to do so...these guys are onto a good thing in my humble opinion.

[OutToLunch]

I agree... would only look to sell down by half at the most, if at all... for now, I'm holding tight as volumes are still low so perhaps the market hasn't digested the news just yet.

[trackers]

Attempt at a chart, MACD (red) RSI and 30 day moving average (blue) ... Close above 6.0 would be good (disc: not holding)

http://img23.imageshack.us/img23/2441/texfl.jpg

[STRAT]

TEX down to 2.6c Market cap 4mil. WOW

Surely there will be a bounce coming

[percy]

i see texco have a drilling rig down Barrington street by the motorway.only oil they will find there is old stuff I dropped when I put a rod through the sump of the Lada.

[STRAT]

i see texco have a drilling rig down Barrington street by the motorway.only oil they will find there is old stuff I dropped when I put a rod through the sump of the Lada.
Are you sure about that Percy? :D

You do realize you loose all credibility for having admitted to owning/driving a Lada :scared:

[Dr_Who]

TEX down to 2.6c Market cap 4mil. WOW

Surely there will be a bounce coming

Good call mate.

[percy]

well what would you expect a percy to own!!

[ronthepom]

Corporate,...
Reasons are

1. Laurence Roe impresses me. He has made mistakes before and learnt from them.
2. Only 157m shares on issue.
3. Company strategy ( see AR ) works well in a USA infrastructure.
4. Excellent operator in Hollimon.
5. Is in a better position now than 2 years ago when it hit 28 cents.
6. Has a high impact well at Highway 71 which has already hit significant gas on the way down to the prime targets.

The trade today has been at record levels ( plus 20m ). It is getting me excited. I first bought in in June 2007 so it has been a long wait. Hold 3m at 4.6 cents average cost.
To get it at that cost I have had to average down. That's how much I like this company.

Somethings up.
Hi Bermuda, you still holding TEX, not looking to good eh,not doing much i might have to sell.

[STRAT]

Is TEX on the mend?
TEXOB yet to catch up

[bermuda]

Hi Bermuda, you still holding TEX, not looking to good eh,not doing much i might have to sell.

Hi Ron,
TEX did get me excited but I spoke to some learned people at the April Sydney conference who were not excited at all. So I sold out at a loss ( ouch! ) and put the proceeds into NWE.
Good luck with TEX. It could still surprise. I hope so....I have it as a pick in the 2010 competition!

[Oiler]

Hi Ron,
TEX did get me excited but I spoke to some learned people at the April Sydney conference who were not excited at all. So I sold out at a loss ( ouch! ) and put the proceeds into NWE.
Good luck with TEX. It could still surprise. I hope so....I have it as a pick in the 2010 competition!

Bermuda, I take it you are happy with your NWE choice :D

[bermuda]

Bermuda, I take it you are happy with your NWE choice :D

Hi Oiler,
If Peter can this NWE farm-in deal signed then this NWE is an immediate 3 bagger. ( better than sticking around with TEX I thought ).
But there is many a slip between cup and lip.

[STRAT]

Trading Halt pending the announcement of an aquisition.

Market cap under 4 mill.

Any fundies like to comment on what ol TEX is worth?

[STRAT]

Well. Its worth more today :D

[soulman]

You in Strat? Sounds like a re-cap and new strategy. TEX is a gambling stock now.

[Aotea]

Thats right, this micro capper has real potential...this owes me big time- down 60%!

[drillfix]

Thats right, this micro capper has real potential...this owes me big time- down 60%!

Ouch Aotea!

Hope you never had a lot of capitol tied up in that one and that other trades are going good for you.

[Felix]

Yes finally a good news story from Target after being a bit ho-hum over the past year. It's not great that the capital raising will be so dilutionary to current shareholders but then with the bank balance running low and no significant prospectives I guess this was always on the cards. At least there are potentially exciting times ahead.

[STRAT]

You in Strat? Sounds like a re-cap and new strategy. TEX is a gambling stock now.Hi Soulman. Put a few bob on TEXOB at half a cent a wee while ago. Just a little gamble though.:eek2:

[OutToLunch]

Hi Soulman. Put a few bob on TEXOB at half a cent a wee while ago. Just a little gamble though.:eek2:

Also holding TEXOB via the last SPP. Looks like I might need to blow the dust off them and give them a wee polish. Must admit this move has been a bit of a surprise after recent performances.

[STRAT]

Hi OTL and Soulman.
Looks like TEX has woken up today :D
That gamble on TEXOB may pay off after all:eek2:

[soulman]

Hi OTL and Soulman.
Looks like TEX has woken up today :D
That gamble on TEXOB may pay off after all:eek2:

Happy New Year to you STRAT.

Yep, it's been happy days for TEX shareholders. I am not a holder but I do remember selling my TEXOB for 2.9 cents about exactly last year.

Your calculated gamble has paid off 3 to 1. Letting it roll? or cash out.

[STRAT]

Happy New Year to you STRAT.

Yep, it's been happy days for TEX shareholders. I am not a holder but I do remember selling my TEXOB for 2.9 cents about exactly last year.

Your calculated gamble has paid off 3 to 1. Letting it roll? or cash out.Happy New Year to you Soulman.
Lettin it ride for now. No choice really. Theres not enough liquidity in the options yet. Besides I want to see what all the fuss is about first.

[OutToLunch]

HNY you guys. Who would have thought we'd see TEX over 6c? Might look to drop my opts shortly if the heads spike much further (don't worry Strat, my holding isn't capable of making too much of a dent in the market depth).

[STRAT]

(don't worry Strat, my holding isn't capable of making too much of a dent in the market depth).lol. Neither is mine :eek2:

[Felix]

Has the TEX share price not gotten ahead of itself at 7.1c? Just running the numbers, after the upcoming share placement and rights issue the company will have approximately 300m shares on issue. That will represent a market cap of approximately $21m. For that market cap you will have a company with about $4m in cash less whatever they fork out for the new project with leasing and drilling costs ($3.6m from the share placement and rights issue and whatever is left from the $1m in cash they held at 30 Sept 2010), some smaller projects that don't seem to be cashflow positive and a 50% share in a new project that doesn't have any specifics other than that it is a "large Texas project" (announcement 13 Dec).

I would really like to see this company succeed - I've held shares since 2007. However I have to question whether the current market cap is justified. Thoughts?

[Felix]

No thoughts? Oh well, I sold all my shares today at 7.6c. Good luck to those holding - I would love to see the company do really well and can see myself buying back the shares sometime in the future. I think the company has good leadership.

[STRAT]

Hi Felix.
TEX has broken out into a strong uptrend. Still got my 1/2 cent TEXOBs

TEX is one of those companies that continue to disappoint so as soon as the run runs out of gas I will be out too.

[OutToLunch]

Oppies have sprouted legs now & look attractive with the long expiry date. But I'm suspicious about the strength in the heads, wasn't there meant to be huge dilution coming at a fire sale price?

[Aotea]

Who cares OuttoLunch, its great to have a solid bagger on these puppies for now. They have some aquisitions coming in the future I understand somaybe a leak somewhere?

[Aotea]

Some solid accumulation in the last couple of days...news to come??
Up 19% yesterday and up 10% today already.

[Felix]

Their quarterly activities report should be out in the next couple of days so perhaps the price spike is due to speculation on a positive report. If it's just hot air then no doubt the share price will head back down again.

If you have a long enough timeframe then this share doesn't seem like a bad one to own. The share price seems to pop up every so often but then settle back down. Also they have had pretty average success to date so surely their luck will turn at some point. Surely they can't keep raising cash from shareholders but not deliver on their plays.

[Financially dependant]

I see TEX is still leaking like a sieve up 22% before going into trading halt.....

[bermuda]

FD,
Caught up with Lawrence Roe at the Good Oil Conference. This guy deserves all the best of his endeavours. I got impatient with this one and sold out. It is actually ready to rock upward. Good luck to all holders.

[Aotea]

Rumour mill in full swing, in a trading halt at the moment but word is 400bopd on the Westpac trading platform news...have a good holding in TEX, and if true could see a run up tp 20c

[soulman]

TEXOB 10 cents options due end of Oct 2012. Wonder if there will be a spike in TEX to get some options over the line.

[Aotea]

Soulman, they are cutting it fine! While happy to see the money come in, am equally happy to avoid further dilution. Big things to come with TEX I feel..

[soulman]

They answer my question today....not that I send them an email.

Underwriters for the options to raise $5 mil at 10 cents. Not yet a done deal.