TEXG - Page 11

tripleing your money isnt late,,, your just in time

Yeah you're right.. I couldn't afford a whole lot but I managed to buy 200 shares.. the day I placed the order it was at 1.49, about 7pm.. then the next morning the first press release came out and it jumped up to 2.89, so I missed the 1.49 by a few hours

got in at 3.76 yesterday. trading in the 4.15-4.20 right now. not bad.

Good news.. Westar issued a press release this morning stating that they're increasing the dividend, to a 1:1 stock split. Expected to go into effect sometime next week. This is looking better every week, I half expect them to hit oil, the way this is looking

just read the same thing. going to keep an eye on it today.

[

6:00a ET June 29, 2007 (Market Wire)
Terax Energy (OTCBB: TEXG), soon to be called Westar Oil and Gas Inc. (Westar), announced they will increase the share dividend equal to One for One. Each shareholder of record on the date the symbol changes will receive an additional share of Terax as a stock dividend. It is expected that the symbol will change within the next week.

Westar has also announced that it will be closing on the purchase of a controlling interest in a public oil and gas company for $150 Million Dollars. This acquisition is set to close on the second week of July. The source of funds used to close the purchase will be from a senior secured loan. (((___No shares of Westar will be issued as part of this purchase___))).

Yea should be good but What i dont like is the dividend is after the name change & also No Westar shares are included considering thats what its changing too?

whatever the stock price right after the name change will be a 1 for 1 dividend on that price

TEXG is changing WESTAR OIL AND GAS-The dividend is for 1 for 1 AFTER the name change & also states there will be no WESTAR shares included in the deal-which i see is no good-heres my point-the stock will change to westar & could get knocked down bad by the time our broker shows it on our portfolio & no shares of the stock after the name change is included so whatever price it is -thats it-1 for 1 on that price.

sweep, i dont get it... if the ticker changes then all shares being held currently would change to the new name. at which time all shareholders (who qualify) will receive the dividend shares. how could you get shares from a company (TEXG) which at that time wont exist.

I believe the press release is referring to Westar Energy Inc. (WR) when they state that no shares of Westar are involved. Obviously a company that doesn't exist can't issue shares, the shares will be for Westar Oil & Gas, just not the parent company. Westar Energy trades at above $20 a share, so they're just trying to protect themselves by stating that in the PR.

Just as AndyMenke stated...

I went back and read the press release. The issuing of the dividend shares have nothing to do with the part of the quote that sweep highlighted. That specific comment is in regards to the 150 mil purchase. And it indicates that no Westar shares will be issued as part of THAT deal.

ok ok cool at least we got that figured out-ur prolly right covering there own A$$ there--but when are the shares to be considered 1 for 1--the day it switches & wait for the broker--or the day it switches period because there will be no more TEXG basically when TEXG Is removed- ya know whatever the stock price is when it switches to westar? right

damn i had this thing at a dollar a few weeks ago

sweepinu - the way the pr is written, the extra shares will be issued the day of the symbol change. Doesn't specify whether it will be before or after, but it doesn't really matter, as they will be valued the same anyway. I understand it to work the same as a stock split, they are doubling the amount of shares. Unless they plan to issue the cash value as a dividend... but the way its written it looks like they are just going to double the amount of shares that everyone owns.
Each shareholder of record on the date the symbol changes will receive an additional share of Terax as a stock dividend.
I would prefer the cash value but it doesn't look like its going to happen like that. But it looks like Westar believes that the land shows potential, specifically the lot in Erath county... I'm actually thinking about holding onto this stock for awhile, considering the potential.

wow, seems like this thread died.... they should be paying the dividend any day now, or atleast issuing a PR about it...

and wait we shall...

Another press release states that the share issue will be a 2-1 on the name change. Still playing the waiting game with this stock.