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.

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

I took a gamble and bought into these Friday in fact mine was the last trade through i think.
I pressume that they were affected but to what extent who knows.
Probably had to shut down wells in case of any environmental damage,but the positives are the the hurricane was downgraded and the damage in the area less than predicted,also those nodding donkeys are very sturdy structures.
DB66

Also, the modern method is in-well pumping, so no structure except minimal pipes and storage above ground - if yoiu look at pictures on their website.

http://www.txoplc.com/about.html

Thanks for that Stockdog,that has given me even more reassurance that things will be okay.
DB66

Nice release.. i like it... very straight forward and positive.. sp already rising... this will hopefully kick start a gradual but strong increase in the sp...

What does every one else think ?


TXO PLC
26 September 2005



PRESS RELEASE

For immediate release: 26 September 2005

TXO plc

AGM Statement

Our year to 31 March 2005 was one of great progress. We made two major
acquisitions of oil wells, taking the number of wells to 286 and reserves to
10.4 million barrels of oil. We also welcomed Hayden (Scott) Stiles to the
board.

We were delighted to be able to agree terms for the issue of a $3 million bond
with Dresdner Kleinwort Wasserstein.

Since the year end, production has been increasing and for the three months to
June the company produced 11,202 barrels of oil, which compares favourably with
the 8,510 barrels produced in the previous three months. Production in July and
August alone totalled 8915 barrels. The company has also acquired interests in a
further 19 wells together with Maple Leaf Capital.

Our operations contractor, MC production, also introduced a third rig to
accelerate bringing on new wells. During August one of the contractor's rigs was
destroyed in a fire while working on a well at the BC Christian lease. MC moved
quickly, in a tight rig market, to replace the destroyed rig with minimal effect
on cumulative production.

Looking at the company today, the early signs from 2005/06 are that the benefits
of the actions taken last year are bearing fruit. We have oil in the ground,
production is rising, refurbished wells are coming on line at a faster rate than
previously, we now have 101 wells in production of which 30 are 100% wells, and
the oil price has remained very strong.

oops! spoke to soon... sp now marked down...what do I know ? someone didn't like it !

skyhigh - like you I thought it a strong, straightforward notice - 11 new wells on stream in 2 months v. my estimates of 14 a quarter and 80% of last quarter's production already achieved after 67% of the current quarter.

Slightly mystified by reference to acquisition of 19 more wells which seem to be a JV with Maple Leaf Capital - would have thought that was worthy of its own RNS at the time with a little more detail as to prospects and JV sharing arrangements.

Hey - one big factor! No mention of Hurricane Rita - surely they must have mentioned it if it had had any effect at all on operations. So can we assume TXO escaped completely unscathed?

At a guess (but I'm no expert) I'd say the MMs were taking the piss to scare out a few weak holders to accumulate some stock for themselves. Anyone with Level2 and some experience out there to guide us?

Given my holdings in FAO, FOGL, EEN, SEY, I am happy to have a rock solid, low risk little earner in the mix, taking advantage of the oil price and known value in the ground.

As you so wisely say, WDIK!

sd

Here is an exchange of emails with the PR company re the 19 new wells, so I'll guess we'll have to wait for the interims for clarification.


From: Stock Dog
Sent: 26 September 2005 12:59
To: Yvonne Fraser; pressreleases@aquila-financial.com
Subject: Re: Press release: TXO AGM statement

Yvonne

Any more information on the 19 wells JV with Maple Leaf Capital which I have not seen reported elsewhere or did I miss it.

best

Stock Dog


Dear Mr Dog,

This is the first announcement of the news of the 19 JV wells.

More information will be available in the interim results later in the year.

Best regards,
Yvonne