No bid please...........
Drilling at least one well to 10,000 feet was the final obligation under the license terms. And its completed with well number 5.
This is great news as TXP are probably the only company recently to now fulfill all obligations of the license.
However, this might also be bad news. With so many discoveries and a clean license - sadly, TXP now could be subject to a low ball takeover bid.
When I say lowball, I mean 200p to 275p per share offer.
And that would be lowball, considering that Cascadura is a monster and will deliver massive cash flow from when its online later in H1 2022. Royston is a monster and with so many targets now derisked (including the monster that is Krakken) - its now a sitting duck for some nasty people to take it out cheap before us shareholders get rewarded with the "Wall of Cash" coming in from when Cascadura is online and then relentless drilling on more and more massive exploration targets.
It really is no joke that if Royston flows and then phase 2 exploration including Krakken get some success, this could be 1000p a share plus plus plus in 24 months. While a lot could go wrong, it could also go right and then some.
And that is why, while the big boys might not be interested, some savvy people with cash to burn might try to steal TXP away from us shareholders with a lowball bid between now and when Cascadura comes online.
And a 200p to 275p bid in the coming months post a successful Royston flow test, would be taking the pee, and certainly I would reject it completely.