Touchstone Exploration Share Discussion Threads

[sleveen] 02/5/2024 07:58

Thanks hbr.

Added to header info.

[homebrewruss] 01/5/2024 23:03

TRIN presentation on the deal available here.

[leoneobull] 01/5/2024 19:58

Pro . Thanks for the tip, pal. £5 by 2022. Txp

[zho] 01/5/2024 17:05

Malcy's take:

I am going to make minimal comments right now, I shall wait until the webcast/analysts meeting or a conversation with Paul Baay later. However readers of the blog will know my recent thoughts about Trinity, I have made it clear that they were in a position since Jacobin that meant that their options were extremely limited and so getting the price they have done in this deal is to be commended.

So with them unable to dictate terms in what was going to be open season in Trinidad M&A activity all that was left was to try and get a half decent price for the business which is currently ex-growth. With Touchstone having decided to stay in Trinidad the best thing for them was to start acquiring other companies and creating scale on the island. A good starting place with Trinidad and the combined company will have scale and a better ability to work on the island, maybe a slightly higher premium has secured certainty of the deal and gives Touchstone control over onshore Trinidad.

This deal fires the starting gun for an M&A programme on the island, there may be more and I would expect that, in the meantime Touchstone has struck out first and as the strongest of all the participants will look forward to the dominant position it has secured.

[che7win] 01/5/2024 16:57

Oh dear, hope it wasn't dale on a technicality

[chessman2] 01/5/2024 12:19

I just hope PB and TXP can rise to the occasion!!

[desha] 01/5/2024 12:04

holdandhope 1 May '24 - 11:24 - 37217 of 37219

IMHO it's not the business logic of the deal that is in question (aside from the timing). It's the ability of TXP CEO and Board to execute and realise those benefits successfully. Recent experience does not count in their favour.

[che7win] 01/5/2024 11:45

Skyship, Last dilution was 6th Dec 2022

[skyship] 01/5/2024 11:41

Unable to find the RNS for the last placing. Could anyone assist please...

[holdandhope] 01/5/2024 11:24

I agree the timing could have been better because of the dilution at this undervalued share price in order to pay for the acquisition in shares, but to focus simply on the cost (25% dilution) without thinking about the value that is added with the acquisition is one-sided. The acquisition includes a small amount of cash, potential for significant cost efficiencies running the operations in Trinidad, significant cost efficiencies in corporate overhead costs, significant (relative to current levels) additional production and cashflow, cheap additional reserves, further explo/development opportunities for some of the expected significant increase in TXP operational cashflow coming in the next 18-24 months to be spent on, and perhaps most valuable of all in the next few years, large tax losses that can be offset against the expected TXP profits to come with development at Cascadura. I think as the market digests the potential, and assuming the Cascadura production growth is realised to utilise the full tax loss value, the share price will reflect that despite dilution this deal adds significant value to TXP.

[kaos3] 01/5/2024 09:25

Eu brokers are on holiday....today.

I cant buy or sell

[11_percent] 01/5/2024 09:07

Biggest come back since Lazarus......back to support at 40.5

But...I dont think we are over for the day.....lets see.


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[sleveen] 01/5/2024 08:50

I guess those of the "empire building" view are now out and the poorer for it, whereas those of the "compelling logic" are buying more.

[sleveen] 01/5/2024 08:41

11%

Take a look at TRIN share price over the past 12 months.

[awise355] 01/5/2024 08:40

Would like to think we get a less volatile share price now but I don't hold my breathe..

[awise355] 01/5/2024 08:40

Thankfully the worm has quickly turned

[11_percent] 01/5/2024 08:39

Discord is ok for me.

Guys are in full flow....cant keep up.

[retsius] 01/5/2024 08:36

What has happened to Discord this AM?
Can`t seem to gain access?

[awise355] 01/5/2024 08:33

Does this re-rate now and with Cora coming online soon that could add 400-700bopd combined 2 wells

[11_percent] 01/5/2024 08:31

Dont know much about TRIN......but the share price graph does not inspire.




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[11_percent] 01/5/2024 08:28

Seems like bad timing......TXP share price is on the floor......could have waited till the 2 wells on Casc C pad are tested and confirmed as good flow......with subsequent share price rise.

[kaos3] 01/5/2024 08:16

Trin is txp squared