29 JUNE 1985, Page 19

Texas poor

THE luckless shareholders in L. Texas Petroleum (Deep in the heart of Texas': City and Suburban, last week) have now heard from their company, though not to their advantage. A letter from Houston tells them that their special meeting at the City offices of Kleinwort Benson, the company's merchant bankers, due this week, has been postponed until 17 July. Shareholders will than be asked to vote for exchanging their shares for the one-cent shares, unquoted on any Stock Exchange, of an oil exploration company in Louisiana. They are owed explanations, and until they have them — or at least are told what the Louisiana offer is meant to be worth — they should vote for nothing at all, except censure.