Terax Energy (TEXG)

[rooktrader]

REVISED: lalitha, interesting news. i don't know how to value the soon to be westar oil myself and this confuses the issue even more.

any word regarding my previous question about selling shares even if we have not been credited with the divy at the time of sell? anything else you can share? tia

anyone ask ir stephen taylor about the status of the 6 wells in erath county?

"Terax has also elected to extend its current leasehold interests as well as bring back online the wells located in Erath County. Currently there are six wells which have been drilled and are set to be reworked on the Erath lease. It is expected that production will be established in the next 30 days. The expected net cash flow from the rework of these six wells is in excess of $750,000 per month. The new company will be named Westar Oil and Gas Inc. Upon conclusion of the exchange and upon completion of certain purchase contracts which both Terax and Westar are in the process of finalizing, the combination is expected to result in a company with net cash flow in excess of 12 million dollars per year and reserves in excess of 150 million dollars. The assets will consist of properties located in Texas, Nevada, Arkansas, Mississippi, and Oklahoma".