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.

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

now 32% up lots of big buys went in first thing,i haVe some at 19.5 from march 05 hope we get up there.

I'm in at 17p so todays rise is a help.
There must be news out for this rise ?

Paying off well that 12.36 buy,,,GET IN THERE I CAN FEEL THE HEAT FROM HERE,,WELL,,WELL..

An interesting RNS!

Presumably 'misunderstanding' is the new 'error of judgement'?



TXO PLC
03 March 2006


TXO Plc ('TXO' or the 'Company')

3 March 2006

Holding in Company

In accordance with Rule 17 the Company announces the following trades in the
Ordinary 5p Shares by Mr. D. Parlons, a substantial shareholder in the Company.
These transactions were not previously announced due to a misunderstanding
between the Company and Mr. D. Parlons, and are announced today for
clarification.

Date Disposal Resulting Holding % held

18/05/2005 1,150,000 3,694,960 4.43%
03/06/2005 250,000 3,444,960 4.13%
04/07/2005 250,000 3,194,960 3.82%
08/07/2005 250,000 2,944,960 3.52%
12/07/2005 125,000 2,819,960 3.37%
14/07/2005 125,000 2,694,960 3.22%
02/08/2005 250,000 2,444,960 2.92%


Following the disposal on 2 August 2005, Mr. D. Parlons no longer held a
notifiable interest in the Company.

ENDS

For further information, please contact:

TXO PLC
Andrew Glendinning, Finance Director 020 7863 8852

Aquila Financial Limited
Peter Reilly 020 7202 2601




This information is provided by RNS
The company news service from the London Stock Exchange

Buying opportunity???

If, like me, you hold some (or even a lot) of shares in TXO, you will be willing a change in sentiment in the wider market. The spike back at the end of Feb indicates that thre are plenty of people waiting for this change to come - lots of volume and some big buys.

It seems to me that the next couple of months may well ark the beginning of that change.

The recent IFRS compliance changes have totally transformed the company's paper profitability. More 100% owned wells are coming on stream. The exploration side should start to become clear - always the possibility of a find. A continued high oil price is expected (demand will continue to beat supply globally and the US driving season will see oil inventories fall), a shock is increase ever more likely as the nutters around the world get into the silly summer season.

If the company can make strides to get monthly production up - which is what they are trying to do - revenue will dramatically increase and so should the share price if they can just get the market to pay attention. From where we are now, we could be looking at treble or even quadruple gains by the back end of the summer. And of course, there is always the chance that some big fish will want to buyt the whole shooting match....

Good News

LONDON (AFX) - TXO PLC, said production in the three months to 31 December 2005 was 14,009 barrels, an increase of 8 pct compared to 12,889 barrels in the three months to 30 September 2005.

Provisional figures for January indicate aggregate production of approximately 5,500 barrels.

Mike Chandler, chief executive stated: "I am delighted with the resilience shown by the oil industry, and TXO in particular, in bouncing back from the effects of hurricanes Katrina and Rita and getting production back on track. Good progress in January and February gives me encouragement that we will be reporting a continued increase in production in Q4."

The group also revised its end year accounts under IFRS guidance, returning to a pretax profit of 9.7 mln stg from 362,604 stg. newsdesk@afxnews.com ec


Oily

Oily,

Good news it is but it doews't seem to have done the trick!

To anyone out there who owns some of these - most probably like me bought at between 14 and 18p with some averaging down of late - it's time to kick the board into pushing the positive news about this company. If you are in and intersted, could you have a look at the ADVFN free bb on TXO - there's a lot of interesting stuff on their about why the price might have been kept low for so long. If you fancy a bit of board bashing, let us know on here or over ther.

steve

steve,

I think the murky relationship between Mike Chandler's two companies is holding this back.

He holds one private, and TXO, and he clearly could, and possibly does, have a conflict of interest, IMO.

The decision to workover the JOINTLY held wells first, rather than the TXO 100% owned ones, was not answered well at his Oilbarrel presentation IMO.

I can't remember what he said, but I do remember not being impressed with the answer.

He also mentioned an exploration play in Texas, that I think was going to drill in January, yet no news so far.

On the plus side, I think TXO are now approaching the point where the revenue from the existing producing wells will exceed the cost of the 10 workovers they are doing per month, and TXO will move into cashflow positive, if not actual profit.

Clearly if this is true, in six months time the production revenue will exceed costs quite substantially, and should grow exponentially from there.

However, the existing wells only produced 5,500 Barrels of oil in January, so it's still a small producer, with SEEMINGLY no chance of a sudden surge in production, or large discovery, to give the hope of a big move, like the other heavily promoted oilers such as Chaco, MAX, and MRP, IMO.

If TXO carry on with their workover program, it would appear to be more of a solid plodder of an oil stock, and a lot of the punters on BB's are (despite the risks which they are ignoring) only looking for the big rewards, and are giving a solid producer such as TXO the cold shoulder. SEY is another example of this IMO.

Andy,

Agree with the perceived conflict of interest problem - I'm waiting to hear from Andrew Glendinning on this issue as I think more transparency would help. I have also asked for an update on the exploration prog to be made available = it has been a while. (That said if it is a dud I'd rather not know!)

I don't know if you have come across the idea of a disgruntled former employee using a large allocation of shares to drip sell and depress the share price - this seems to have been going on for a while and could now have come to an end - I am waiting for a copy of the register of shreholders to confirm that the individual no longer holds enough to influence things in the future.

The spike in Feb indicates (IMO) that there are people watching and that a change in sentiment (and fortunes) could come quickly. With a potentially stable or increasing oil price, a bit of effort from the board to get some positive news out and a good final report for the year in aug, I think this could be a very different ball game in 4-6 months... On the other hand, maybe I am deluded!

Steve