ALTX Stock Analysis

Altex Industries Inc

Altex Industries, Inc. is a holding company. The Company, through its operating subsidiary, Altex Oil Corporation (AOC), owns interests, including working interests, in onshore oil and gas properties located in Utah and Wyoming. The Company has bought and sold producing oil and gas properties, and has participated in the drilling of exploratory and development wells. The Company was also engaged in recompletion of existing wells. All of AOC's interests are in properties operated by others. The operators of producing properties, in which AOC has an interest, sell produced oil and gas to refiners, pipeline operators and processing plants. As of December 7, 2012, the Company owned working interests in two gross (0.22 net) productive oil wells, which produce associated natural gas, and 203 gross (13 net) developed acres. During fiscal 2012, the Company's revenues are generated from interest income from cash deposits and from sales of oil and gas production.