This company has KNOWN oil deposits in the ground which have been independantly valued at $12 million.
Now that oil is increasing in value and a world shortage this valuation must now be worth considerably more. THE SHARE PRICE IS TOTALLY UNDERVALUED and will have to be re-rated upwards. Any views or up dates on this suggestion.

Bruce Rowan's Sunvest Group have a stake of 8.000.000 million shares or 10.8% Bruce Rowan is involved with Share Shop PLC An investment company I beleive.

Texas Oil and Gas are making real money.

S/DOG,your calcns.sound great, hopeTXO come up to your s.p. projections.

RHPS weekly update says Panmure have published a slightly downbeat note on TXO, but set a value of 27p on their shares - 1p more than my own estimate in post #25 above. Tom B says BUY.

sd

I'll take 25/27p thank you !

good work sd but interest seems low as I'm sitting in FTO waiting for some interest which is a long time coming--I'll watch this one for now.

A very subdued end of week across my portfolio - like everyone's on holiday. Can't wait for September to get started.

Got the full accounts delivered today. Nothing else much in them that I haven't already gleaned from the online RNS, although my thoughts dwell on the obvious questions surrounding Mike Chandler's role as CEO and 50/50 JV partner in a number of wells - not to mention his friend Hayden Stiles providing alot of the operating.

1) In bringing the JV wells into production is there provision for an equitable joint division of the costs involved between MC and TXO?

2) With 3 rigs now in use (owned?) what proportion of 100% owned versus 50% owned wells will be brought into production (hitherto it has been 3 50% to 1 100% ratio!)?

3) What mechanisms are in place by the board to ensure that MC allocates an equitable proportion of his and TXO's effort and resources between 100% and 50% owned wells?

4) There is also a hint that MC is the route via which all revenues from all wells flow. Shouldn't 100% owned wells' revenues, at least, flow direct to TXO to avoid the, however unlikely, possibility of revenues getting stuck in an MC administration?

I would be a lot happier to bring MC's 50% into the fold and put everyone on the same side of the fence after a once for all deal on the price to achieve this. What is his rationale in doing this and the company's in agreeing to it, other than to maintain an advantage that simple deal arithmetic alone cannot provide? I do not believe this current inherent conflict of interest, were it to become material in any form, can be effectively policed by the chairman and non-execs of the parent plc sitting in London.

I hope to attend the AGM in London on 26th September. I hope to be able to put some of these issues to the board then. I'll report back any significant news/attitudes afterwards.

sd

Stockdog,keep an eye out forTXO the next two monthes and also any views on another type mystery namelyGTL , ina reverse t/o and open offer at 1.25 pence. regards MB.

just looking at the chart, we have a support developed at 14p, 15p and 16p at beginning of July, August, September respectively.

This leads to a price of 26p by June 30th 2006, unless good news gets in the way and accelerates this progress!

sd

I'll settle for the 26p by June 2006 thanks.... does this mean 50p by june 2007?

Almost certainly!

If the three troughs at end April, June and mid July can be said to be an inverted head & shoulders with a neckline drawn from the interim peaks of 17p in May to 16p in July - say 16.5p average. Then when we break the neckline upwards (which we just about did today) we should carry on up to about 19p - the same distance above 16.5p as the middle trough at 14p was below it.

Good day for TXO.

sd

RNS Number:3400R
TXO PLC
15 September 2005



PRESS RELEASE

For immediate release: 15 September 2005

TXO plc

2005/06 Q1 PRODUCTION UPDATE

In line with the policy outlined in its Annual Report and Accounts for 2005
published earlier this year, TXO is pleased to announce the first quarterly
update on its oil production activities. This update covers the period 1 April
2005 to 30 June 2005.

Production in the three months to 30 June 2005 was 11,202 barrels, compared to
8,510 barrels in the three months to 31 March 2005.

Production in the three months to 30 June 2005 can be broken down as follows:

*April 2005: 3,419 barrels
*May 2005: 3,647 barrels
*June 2005: 4,136 barrels

At 1 April 2005, TXO had 76 wells in production. This number had risen to 90
wells in production by 30 June 2005, of which 25 were 100% owned by TXO.

Mike Chandler, CEO of TXO plc said: 'I am very pleased to announce this update
on our production activities. The increase in oil production from April to June
illustrates the success of our strategy of significantly increasing the number
of wells worked over.'


I assume the 11,202 barrels is what TXO own after allowing 50% interest on the shared ownership wells - a little ahead of my own forecast, due to equal number (7 each) of wholly owned and shared-ownership wells being brought into produciton over the quarter. I had conservatively allowed for the third rig to come on line next from July 1. Although total numbers are a little slower than I guessed with all three rigs in operation.

31% increase in production is nice - interested to see what reaction in the SP tomorrow. SHows a slight increaase from 68.5 to 71.4 barrels per month per well

btw - why would they sneak this out at 4.32pm after trading today - I would have thought it worthy of a 7.00am slot.

Any comments anyone?

sd

Sounds good I would have thought... not exceptional but steady.... Don't think there's anything neg about the 4.30pm timing... should be blue tomorrow

The markket seems ot like it although a number of sells showoing. I suspect the T traded 200,000 at 16p - showing as a sell - was in fact a buy late yesterday or earlier today before the SP rose, probably casusing the SP to rise.

We need to break the 17p resistance from end of May and earlier this month to be sure of a nice upward climb to our rightful position nearer 26p, IMHO.

sd

I'll settle for 26p+ soon please !

TXO have 90 wells in production as of 30/06/05and should be double the price ,since other so- called oil companies are just paper cos. since they are years from drilling even one well, right on SD.

They will have 104 wells in production by end September and 118 by end December. No hurricanes in Texas and 60m barrels of SPR to replenish after Katrina.

Fingers crossed for good news on the exploration field they ahve 25% of which is nowhere in the price yet.

sd

If the SP stays where it is until i get my hands on some funds i`m going to pick up a few of these.
They look cheap to me.
DB66

Spoke to soon! Me and my big mouth.

Hope our oil pumps are nice and robust.

sd

Any one know whether TXO is affected by Rita? All the productive wells are concentrated in a N-S strip in the east side of Texas.

sd