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.

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

Dear Mr Dog !! what a way to address someone,hows Mrs Dog. LOL

A good AGM statement i thought,nice increase in production and wells and reserves of 10.4 million barrels .This has got to be undervalued in the current climate or i might as well give this investing lark up.

A disappointing mark down in SP today, but some buyers returning in the afternoon session.Hopefully this will move back up again by the end of the week.
DB66

Out hunter-gathering, I hope!

They've just told us that oil production will increase by 83.5% over last year (assuming the same near 20% quarter on quarter increase from bringing new wells into production with the same c. 50/50 split between 100% and 50% owned wells) to just shy of 60,000 barrells at, say, $60 per barrell with an exchange rate of $1.80 = 1.00, less a 20% royalty = turnover of 1,589,192 - an increase of 159% over last year. This should give a net loss (before tax) of about 32,000, compared to a loss of 362,000 last year.

What do they want, blood out of a stone? I'd much rather have oil out of a well.

sd

Peter Reilly of Aquila Financial PR company confirms to me that the 8m shares were placed today at 14.50p - a fair enough price. But it seemed odd the way the RNS suggested a broker just happened to call up and ask if the company would like some cash. I didn't know we needed any!

Maybe this helped pay fpr the 19 JV wells with Maple Leaf Capital announced in the AGM statemtn on 26th September.

sd

Hit by a RHPS sell note yesterday sadly.

Yes another cr*p share tip from RHPS gone sour (one of many this year).... I'm locked in now so have to hope for a recovery next year.

First glance at recent tradingh update did not look bad to me, so I think fundamentals remain on an upward trend. Do agree with RHPS that Mike Hardman treats company as private fiefdom and not v. shareholder friendly, but he certainly has a strong interest in the SP. The dip caused by TB's sell note will not last IMHO. Post final results will tell a better story.

sd

Who is Mike Hardman?

mjr1234,

An experienced trader, and a poster on ADVFN, and here sometimes too!

Cheers Andy,

FYI, I hear Hardman&Co are going to be covering SER soon..

mjr1234,

Ok Thanks, I'll look forward to reading that.

Gone long on these,i here texas is warm this time of year.

bought a few 12.5 hoping to bridge the gap up to my buy in march 05 at 19.5,these are growing eVery month they work oVer more wells, directors seem to be up to something.

Get in there DK you know it makes sence.

You'd think that this would be good for the SP wouldn't you ?

LONDON (AFX) - TXO PLC said chief executive Mike Chandler acquired a further 100,000 shares in the company, acquired in two transactions of 50,000 shares on Feb 2 and Feb 3.

As a result Chandler, via his personal and family holding and those of his 100-pct owned company, M-C Production & Drilling Co Inc, has a 20.17 pct stake in the company.

Finance director Andrew Glendinning also bought a further 50,000 shares on Feb 3, taking his total stake to 100,000 shares or 0.11 pct.

newsdesk@afxnews.com

New update frm oilB.




17.02.2006
TXO Steps Up The Number Of Shallow Wells Producing On Its East Texas Field

You know the saying about a duck. If it looks like a duck and walks like a duck then it is a duck. The expansive Mike Chandler, the head of TXO, formerly known as Texas Oil and Gas, walks like a Texan, talks like a Texan and, sure as hell, is a Texan. His company, which joined the London Stock Exchanges Alternative Investment Market in 2002, making it one of the more established juniors on the board, runs a classic Texan type operation, refurbishing shallow oil wells - lots of them - in an East Texas oilfield in the US.

The giant field in question, the Woodbine field, discovered in the 1930s, is 45 miles long by 18 miles wide, with 11,000 existing wells. It has a long and illustrious production history, underpinning the nations war effort during World War II. During those vital war years, between 1942 and 1945, the field supplied 350 million barrels of crude to the east coast.

Those glory days are long gone and many old wells were shut in during the slump of 1998. With prices slipping down to US$10 a barrel, the wells simply became uneconomic. Lifting costs are around US$10 a barrel.

Getting these wells back into production can cause problems, as Mike Chandler explained. During a visit to the field he saw the re-opening of two wells. This involved the removal of trees and vegetation, the construction of roadways so that rigs and trucks could get to the shut in wells, the laying and connection of electricity supply and the refurbishment of the batteries for oil storage tanks. Each well then either needs a submersible pump or a surface-pumping unit (a nodding donkey.) The costs, however, can easily be overcome. With oil prices over US$60 a barrel, every barrels counts. Each well may only produce a few barrels so the name of the game is really the number of wells.

A recent trading update from TXO said the company has 348 wells on 45 leases. In June 2005 it had 90 wells in production; by year-end it had 114 producing wells, with output at just less than 4,000 barrels of oil per month.

We are looking to expand over the next few months, says Mike Chandler, who also owns M-C Production and Drilling, which operates the wells on TXOs behalf. Our eventual goal is to get close to 20,000 barrels a month he says. The companys working interests in the wells vary from 50 to 100 per cent in partnership with M-C Drilling, which gets a royalty.

In addition to its well work-over and refurbishment programme, TXO has added some exploration spice to the portfolio, with the US$25,000 acquisition of a 25 per cent stake in the Trinity Southeast prospect and 5 per cent of the Trinity Southwest prospect in West Texas.

But refurbishment is the core business and investors should expect that the momentum built up should translate into some profits on the bottom line.

Andy
one of the Trinity fields was reported dry some months ago I seem to remember - no news still on the other . Also the enormous conflict of interest with MC Production and some recent unexplained capital raising and expenditure left me uncertain where this one was going. So I sold out for a 20% loss end of January. I think there are better oilers around to be in.

sd

looking for news on these to explain the rise,anyone got idea about the push north today.

Cellby
I have been looking too, can't find anything
Giggin