TXCO the Exploration Company of Deleware owns several hundred thousand acres of coal bed methane properties in Texas which they are in the process of drilling. The wells should produce methane gas for many years, and when they are depleated the company still has the coal. They also have oil producing property in which they are getting good output by using their extensive 3D maps to drill horizontal wells. However the real kicker is that their hugh land position in Texas appears to be a continuation of the Deep Jurassic oil bearing strata of neighboring states that has produced monster sized oil fields. Major oil companies tried drilling the area and came up dry, however TXCO with its 3D maps discovered that they didn't drill deep enough. They have teamed up with the Dallis Cowboys owner Jerry Jones and his Blue Star Oil & Gas company and it is drilling an 18,500 foot deep well into the Jurassic strata. They are now approaching the area. Since the drilling started several months ago, Jerry Jones has insisted on a news black out. So nobody has known how it is going. However, the stock has recently started climbing and is now in the $5 dollar range. Blue Star is footing all the money for drilling the well on TXCO's property, but if they do hit oil, they will be allowed to drill more wells and both companies will share it the profits. Since the stock price is starting to finally climb it could mean that somebody knows something. If they do hit oil, the stock could climb into the sky (hence my name STAR GAZER) and even if they don't hit Jurassic oil, they still have their other properties which should make their stock have a substantial rise. One warning, if you are looking up at the stars while you're walking, you could stumble and fall. Sorry about that, it's 2AM and I'm starting to talk silly.
TXCO has now reached the 18,500 foot level. They liked what the sensors were showing, and so submitted and received permission to drill to 20,000 feet. After that, they will review all the results and proceed from there. Because of the 3D results and the formation that has produced monster oil fields, I would think that there is a strong possibility that they have hit oil. There has been a news black out since they started drilling, but in the last few days the stock has started moving upward. Now near the $6 level. That may seem pretty pricy to most people, but if they have found oil, even if it is not an elephant sized field, I think that their stock could really move up and soon. Then, if you want, you can sell it and put the money back into microcap stocks or .10 stocks etc. I have the feeling that no one has bought any shares of this stock, well not in this site. My boss and her sister bought it at under $5 at my urging. Ummm, we can all watch and see if I keep my job.
Has been moving up strongly. Is now at $7.00 This is about the time frame when they are going to announce what they have found after drilling 20,000 feet into the Jurassic formation, if it is even close to being the massive oil formation that their 3D imaging suggested, their stock could ROAR UPWARDS. $7 is a new yearly high. Does someone know some thing? I just bought more shares this morning. You might want to put some money into it. If it does shoot upward ($20?) who knows how high, just a really wild guess, any way, if it does shoot up, you can then sell some/all and use the money for buying penny stocks or a huge hamberger with fries or whatever. Posts: 580 | Registered: Oct 2003
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