TXE.V - Triaxon Energy

interesting story here, worth some d/d

a bakken oil play

a few of you may remember the newly appointed CEO whom founded and sold anglo minerals to BHP - todd montgomery

sorry, v.txe

trading at around ~$11mm market cap

with $3.7mm in placements closed (recent)

seems cheap to me

note, a little dated.

it fails to mention the additional 7,434 acres or that the private oil co in which it has a j/v with is owned by montgomery.

correction to that quick valuation. i believe around 64mm out. thus, ~$8.6mm market cap.

a good spec if you have a decent time horizon in mind.

LOL, finally a correct share count: 76,109,922

market is valuing the co at $7.7mm.

the wild cards on this trade are:
1. what happens with the ORC assets - clearly a conflict of interest if not adjoined with traxions

2.how much more acreage is going to be acquired. i note with the first pp ($750,000), they locked up an additional 7,000 acres

3.how quickly the co can build up production - we should be able to ramp to 400-500boepd in a hurry.

one last thing, if i was redwood capital, i surely would not be advertising the fact they have managed the IR affairs since 2007.

i will post more on the exploration work to date this wkd or next week.

an addtional thing to note here is that it seems they have the completion/drilling technique down and now have the cash to drill.

at present, pending what happens with ORC, we are producing around 50 boepd. i believe at buffalo coulee we have net 6 or 7 locations? which could give us our 400-500 boepd which is worth around $30-35mm to the co.

given the nature of these bakken wells - we could ramp quickly and builld out (based on managements abililty to wheel and deal (acquire more acreage) which i think is superb). to give you a proxy, reece energy had roughly 24,000 net acres and managed to do quite well before running into debt problems (over extended).

timing is everything in is this game and it would appear the time for some of these jr oil players is in the near future.

the answer to wildcard #2:

Traxion Energy Inc. ("Traxion" or the "Corporation") (TSX VENTURE:TXE) is pleased to announce it has secured 21,344 net hectares (approximately 83 net sections) of petroleum and natural gas rights at the Alberta March 10 Crown sale.

In total Traxion holds 21,784 net hectares (approximately 85 net sections) of Alberta petroleum and natural gas rights and 2,619 net hectares (approximately 10 net sections) in Saskatchewan.

Traxion is a Calgary, Alberta based Corporation engaged in the exploration, development and production of petroleum and natural gas. The Corporation's common shares are listed on the TSX Venture Exchange under the trading symbol "TXE".

special meeting - april 7th:

MATTERS TO BE ACTED UPON AT THE MEETING

Name Change

The Shareholders will be asked to consider, and if thought advisable, pass a special resolution changing the name of the Corporation from "Traxion Energy Inc." to "Anglo Canadian Oil Corp.".

an additional wild card:

4. A potential acquistion or combination of businesses

bump for name and ticker change. new ticker is v.agc

up 100% since first post - not bad

incorrect symbol - v.acg

told ya.... check the share price

LOL... keeping the thread alive... this was the only thread.

timing is everything donkeys. it only matters if you hold it before it moves

i'm happy with the boatload i took up at 0.10-0.14