TXCO, (kipp440)...Could get news on flow rates from the tar sands wells sometime within the next couple of weeks. TXCO's CEO seems very confident that they will reach 10k bopd per pilot, although that probably won't happen until sometime next year. (I'm thinking the ramp up to the 10k bopd could cause some excitement.) He also mentioned a while back that $35 per barrel net to the project was "very attractive", so with a $15 - $17 differential to WTI, anything above $50/bbl should be gravy!! Time will tell.
Also, CEO Sigmon made an interesting comment in the most recent (Q2) earnings PR that really caught my attention...
"We have raised the bar and TXCO is now a different company, offering a wider exploration, exploitation and development inventory than ever before," Sigmon added. "With the acquisition behind us, we can now focus on the positive impact we expect to see in production and reserves, starting in the third quarter of 2007 and going forward. TXCO has greater potential than ever before to multiply shareholder value."
Then there's the idea that TXCO made the recent Output acquisition on borrowed cash rather than issue shares. (Bobwins mentioned this a few posts back). These guys issued NO shares while opting to pay approx $2.8M in interest expense per quarter!!?! Looks like something's cooking.
I think this shows the confidence management has in upcoming cash flow and stock appreciation.
Just my opinion.
Time will tell.
Kipp440, haven't really looked at AEZ yet. Been to wrapped up with TXCO. LOL.
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