Tuesday, February 19, 2008
TXCO Resources Inc (TXCO)
is close to all time highs and that has to have the short sellers nervous, especially with headlines like this THIS
TXCO Resources Inc., formerly The Exploration Company of Delaware, Inc., is engaged in the exploration, exploitation, development, production and acquisition of onshore domestic oil and gas reserves. The Company's oil and gas enterprise interests are located in the Maverick Basin in Southwest Texas, and the Marfa Basin of West Texas. The Company's principal products are crude oil and natural gas. Generally, the Company sells all of its oil and gas under short-term contracts that can be terminated with 30 days notice, or less. The Company operates and directs the drilling of oil and gas wells and also participates in non-operated wells. As operator, the Company contracts service companies, such as drilling contractors, cementing contractors, for specific tasks. In some non-operated wells, the Company participates as an overriding royalty interest owner. In April 2007, the Company completed the acquisition of Output Exploration LLC, a privately held exploration and production firm.
at 10:36 AM