Jay Snodgrass
Long/short equity, oil & gas, special situations

The New, New AusTex

AusTex (OTCQX:ATXDY and ASX:AOK) has been on a tear over the past 90 days, as the company gets through a large amount of actual and perceived overhang and corrects its balance sheet. In my April 10 article AusTex is AOK and followed up with AusTex Can't Stop, Won't Stop, I detailed the special situation opportunity that both individual and institutional investors could play. Since then the stock has increased nearly 60% and I've had quite a few Seeking Alpha readers ask me what's next.

New Cap Table

Before we look into the future let's quickly review what happened since my April article. In early June, the first set of ~20.5 million A$0.15 June 6 options were exercised, generating...

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