Anton (the landowner of the Mitchell and TECO shareholder) and the many Tuscola Teco Shareholders are currently adding to their TECO positions this week. I can tell you with out a doubt, the Tuscola TECO shareholders are extremely Bullish on TECO.
This Extreme Bullishness may not stem just from the Mitchell. Right now rumors are running rampant on an expanding TECO drilling program in Tuscola. I can neither confirm or deny such rumors. But, by looking at the climbing Teco share price and the increasing volume, I'd say the rumors have legs.
The Tuscola TECO shareholders for the most part are "old school" stock market players. They call their broker and say, get me 500k or get me a million. TECO drilling operations have made quite a stir in Tuscola and it's no surprise to me that the press in Abilene may soon include this in a news write up.
Mitchell #4 as seen an UpTick in production to 45-50bpd. IP was 61 bpd
Filings are complete and will be Edgarized as capital is flowing.
The petitioners will soon be served up a Giant Massive Humble Pie which they will have to chew on the rest of their lives.
Busted TECO Myths
TECO Mitchell will only produce 1 to 3 barrels. TECO is in Bankruptcy. TECO is out of business May 1. TECO stock is vapor. TECO will never drill again in Belize. TECO is spending 50k to 100k a day on SG&A TECO has toxic financing. TECO has only 400 shareholders. TECO will only receive 1/3 of a barrel, 3 or 4 months from now. TECO has suffered no damages because the stock went up after the filing. TECO is holding out information on SJ3 TECO only gets 9% of the Mitchell. TECO cannot sell any leases.
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