I definitely understand your frustration, and like you, I appreciate BMiles opinions (and I don't assume he's right all the time--I do everything I can to verify the things he says that would affect my performance).
Here's what I see.
On Aug 10th, Texhoma completed its acquisition of 30% percent working interest at Buck Snag with the chance to back in for 12.5% working interest after payout (the amount of time it takes to recover the capital investment made on a well or drilling program). So, I feel it should be noted that if Texhoma sold 42.5% on Aug 29th, they have backed in, which means the capital investment made on the well has been recovered.
On Aug 3rd, Matrixx aquired 57% working interest at Buck Snag. This means what it means and was done on the day it was done.
The SEC filing states that Matrixx acquired 42.5% interest from Texhoma on Aug. 29th. Matrixx could not have bought this 42.5% from Texhoma until after the well was drilled and put online, as Texhoma could not have owned 42.5% until payout. So, this aquistion CANNOT be in reference to Matrixx's first aquisition for Buck Snag, as Matrixx acquired its stake before the well was drilled.
I can't see how this filing says anything other than Matrixx has increased its stake at Buck Snag.
To me, this information has come directly from the horses mouth, through the most recent, and past, filings and PRs from Matrixx and Texhoma.
T
AI
