Share Name Share Symbol Market Type Share ISIN Share Description
Touchst EX Di LSE:TXP London Ordinary Share CA89156L1085 COM SHS NPV (DI)
  Price Change % Change Share Price Bid Price Offer Price High Price Low Price Open Price Shares Traded Last Trade
  +0.00p +0.00% 8.625p 8.50p 8.75p 8.625p 8.625p 8.625p 0 08:00:00
Industry Sector Turnover (m) Profit (m) EPS - Basic PE Ratio Market Cap (m)
Aerospace & Defence - - - - 8.90

Touchst EX Di Share Discussion Threads

Showing 851 to 874 of 875 messages
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DateSubjectAuthorDiscuss
07/8/2017
17:52
Been told "dont be short in front of the figures"
bigboots
01/8/2017
20:04
Touchstone Exploration - positive start on AIM could cause the share price to rerate - ValueTheMarkets • July 24, 2017 'Since Touchstone Exploration (LSE:TXP) debuted in London just under a month ago its share price has risen 20%. It now trades at 8.75p on the bid (last seen). Touchstone is an oil and gas company, with onshore operations located in Trinidad and Tobago. In its latest quarterly report the company announced oil production had increased to 1,335 barrels per day (“bopd”). As I recently reported, Touchstone’s £7.3million market cap values the company favourably compared to its direct peers on AIM. This implicit undervaluation is encouraging, but improving fundamentals suggest a re-rate could soon be on the cards. When Touchstone came to AIM it raised £1.45million at 7.25p. The company’s plan is to increase oil production to 2,000bopd by 2018. Its pitch was it would achieve this through development of its low cost reserves (C$7.35 per barrel of 1P reserves and C$6.00 per barrel of 2P reserves) and lean operating model. One of the attractive aspects of Touchstone’s assets in Trinidad and Tobago is they are forecast to have low decline rates, suggesting both longevity of operations and resilience to the persisting low oil price. For private investors this almost sounded too good to be true. Compared to a lot of the rubbish in the lower reaches of the oil & gas sector on AIM, here is a company presenting a credible operational plan, trading at a modest price. Better yet and the board has been talking up the prospects of dividend payments! In the words of CEO Paul Baay, “When we set up Touchstone our goal was to create a dividend paying business. We were on our way there until oil turned south a few years ago. Moving forward this is still our plan, but it will largely be a function of where the oil price is. However there are also operational improvement we can make to ensure the business is run as efficiently as possible, including reducing drilling and operating costs.” This sounds great, but how much is a cynical market likely to believe this story? Judging by Touchstone’s news flow over the course of its first month on AIM, it seems likely it won’t take long for it to win over more admirers. The company’s Q2 operational report is certainly promising. During June, Touchstone brought two wells into production on its Coora Block. Well CO-368 produced 111bopd for its first 26 days of production and Well CO-369 produced 151bopd over its first 17 days. These wells obviously had a positive effect on Touchstone’s overall production rate. In the last quarter this rose to the 1,335bopd already quoted and it rose again in the first 17 days of July to 1,455bopd. As positive as the contribution from Coora has been, Touchstone’s attention is much more focussed on developments in the WD-4 Block. According to Baay, the company “has had the most success at WD-4, which is its largest and deepest producing block. Having not drilled wells for a couple of years because of the price environment, we completed an extensive review of our assets. As a result of this we now want to look for deeper production horizons, which will bring into play new production and new reserves. This is exciting for the island and a cheap way to conduct exploration.” As the final part of this summer’s four well drill campaign, Touchstone also drilled two wells at WD-4 (PS-598 and PS-599). These have encountered approximately 637 feet of net oil pay and Baay says, “based on performance of other wells at WD-4 we are expecting the two wells to produce at a sustained rate of 100-150bopd.” When asked why the company had not already released initial flow rates Baay replied, “releasing initial flow rates is not our style. The data is extremely unreliable. Our policy is to wait until we have gained a good idea of stable flow rates, before updating the market.” Assuming PS-598 and PS-599 meet the lower end of Baay’s expectations, by the end of summer Touchstone could be producing about 1,700bopd. This is not far off the target of hitting 2,000bopd by 2018. Looking to the future Baay commented, “our operational goal is to have one rig continuously drilling on the island. This will bring more wells into production and improve the company’s cash flow generation.” This suggests the company has plans to drill more wells in the second half of the year, not least because of the importance of generating increased cash flow. Touchstone is going to need this because one area to be mindful of is its debt. On 23 November 2016, Touchstone received a $15million loan from a Canadian investment firm. The interest rate is 8% and principal payments are due from 01 January 2019. The loan matures on 23 November 2021. Touchstone explains this in more detail in its Q1 report, but Baay believes the main point to take home is “that the company’s debt is manageable. The interest rate is reasonable considering market conditions and Touchstone has built into its plan the provision to start making principal repayments in 18 months time, from internally generated cash flow.” Touchstone’s reported financial performance in the first quarter of the year supports Baay’s belief. Although Touchstone lost C$1.1million, this was down from C$3million the year before. However, Touchstone’s operating profit during the period (including general and administrative expenses) was C$1.3million. Assuming increased production has not led to a significant increase in operational expenditure, this bodes well for Touchstone’s next set of reported figures. These are due out on 11 August. If Touchstone can demonstrate continued financial improvement as we move further into 2017, expect the market to sit up and take note. The £7.3million market cap could start to look cheap, as investors buy into the business’ potential.'
mount teide
30/6/2017
16:39
Which stock post IPO are traded in the UK TXP or TXP/R Which ticker id the IPO stock ? TIA
bigboots
30/6/2017
11:18
Yes there is some debt, 1300bopd production, a huge cash pile and up to 10 wells to be drilled in next 6 months.
jungmana
30/6/2017
10:43
Is there debt?
aimmafia
30/6/2017
07:50
Looks like this is off punters radar. Time to be loading here imo. Good summary there keya and I think this too cheap at £9m market cap today.Gla
jungmana
28/6/2017
18:30
I'm in,happy to hold,under radar,plenty upside compared to other operators
dmk1198
28/6/2017
17:41
Name of share is: Touchstone Exploration AIM listed High Risk We are acting as agent in a 7.25p placing. We are charging 5% and £75 admin fee Settlement date: 26 June Spread: CAD 17-18 cents (9.5-10.5p) Current market size is: TBC Reasons to buy: Touchstone Exploration is an independent oil producer with onshore low risk operations in Trinidad. They are one of the largest onshore independent oil producers in Trinidad. Touchstone are currently producing 1,280bopd with a plan to increase to 2,000bopd by end of 2018. They are operator of around 78,000 gross acres of exploration and development rights. They are coming to AIM to increase liquidity and are raising £1.5m to assist with the ramp up of current development plans. Current market cap is CAD$14m (£8m). Post raise will be £9.5m. There are other UK listed firms operating in Trinidad that provide an easy comparison of valuation. Similar independents in Trinidad are Trinity Production & Exploration (TRIN.L), Range Resources (RRL.L) and LGO (LGO.L). Touchstone trades at a significant discount to these peers: Market valuation per flowing barrel (Canadian dollars) - Trinity $34,352 LGO $37,907 Range $63,047 Touchstone $11,538. Market valuation compared to reserves (Canadian dollars) - Trinity $4.04 per barrel 2P Touchstone $0.94 per barrel 2P Even without the predicted increase in production there is potential for significant re-rating in value just from Touchstone moving to a valuation more in line with its peers. After a period of cost cutting brought on by a weak oil price environment, the company has announced plans to ramp up activity levels with a capital programme initially comprising 24 well recompletions and four new development wells. Five of the recompletions have already been undertaken so far. The recompletion work is low risk and the company has an excellent exploration record with a 100% success rate for the 36 wells drilled to date. Shore Capital expect this work to translate into “healthy production growth” and estimate an average 1,450bopd for FY2017 and 1,700bopd for FY2018. Risked NAV based on this is CAD$0.55 per share – GBP 31p The proposed raise will add to these numbers. Shore thinks as a result of the additional funds being available the new development well figure will increase from 4 up to 10 by the end of 2017, production will increase to around 2150bopd for FY2018 and profit is expected to be as high as $9m ($20m operating profit) from a previously expected breakeven as per the current research note. Pro-forma figures will be included in an updated research note after the raise is completed. Touchstone has a strong management team, notably CEO Paul R. Baay who has led TXP since 2010 (increasing production from 135 to 1300bopd). Previously he founded True Energy where he increased production from 350boepd in 2000 to 20,000boepd by 2007. Part of True Energy was sold for $200m in 2012. Paul Baay and Chairman John Wright own 7% of TXP. The company has a sound balance sheet. In response to the downturn in oil prices the firm reduced G&A expenses by 39% since 2015 (from CAD$10m to $6m) and reduced operating costs per barrel by 19% to around CAD$21 (USD$15.5) over the same period. The firm has just released Q1 2017 Results on 15th May and the had CAD$13m cash on hand (compared to CAD$8.4m in cash at the end of 2016). All in all Touchstone Exploration offers increasing production, increasing netback/profitability, a solid management team and a solid balance sheet. The move over to AIM will hopefully lead to a re-rating as they move to a valuation more in line with peers.
keya5000
26/6/2017
16:31
What's the fundamentals here?
aimmafia
27/5/2017
21:17
Comes to AIM this week I think
brasso3
21/4/2017
12:40
Rumours that this might be coming to AIM If so is it still worth a close look? Or just passing on?
cpap man
31/3/2017
18:18
Just me I think..
dosser2
31/3/2017
18:18
Just me I think..
dosser2
04/1/2017
11:40
Some big buys recently, although I've not noticed them on the daily buy/sell data. Jan 3/17 Dec 29/16 Baay, Paul Raymond Direct Ownership Common Shares 10 - Disposition in the public market -50,000 $0.150 Dec 22/16 Dec 22/16 Baay, Paul Raymond Direct Ownership Common Shares 10 - Acquisition in the public market 25,000 $0.160 Dec 7/16 Dec 7/16 Wright, John David Direct Ownership Common Shares 10 - Acquisition in the public market 48,500 $0.170 Dec 7/16 Dec 6/16 Wright, John David Direct Ownership Common Shares 10 - Acquisition in the public market 251,500 $0.170 Dec 2/16 Dec 2/16 Wright, John David Direct Ownership Common Shares 10 - Acquisition in the public market 200,000 $0.180
lazarus2010
08/6/2016
14:22
has everybody left the building? Monday's rise was down to this I guess.. Http://www.stockwatch.com/News/Item.aspx?bid=Z-C%3aTXP-2381319&symbol=TXP&region=C Touchstone liquidates hedge contracts for $2M (U.S.) 2016-06-07 19:08 ET - News Release Mr. Paul Baay reports TOUCHSTONE LIQUIDATES HEDGING CONTRACTS AND REPAYS BANK LOAN BALANCE Touchstone Exploration Inc. has liquidated its outstanding commodity hedging contracts on June 2, 2016, for gross proceeds of $2,019,000 (U.S.) and voluntarily repaid its outstanding $2-million (U.S.) principal credit facility balance. Effective June 7, 2016, the company and its lender executed an amendment and limited waiver to the credit agreement. The amendment waived the company's minimum hedging requirement under the credit facility, which was previously set at notional volumes of 800 barrels per day on a rolling 12-month basis. The amendment also cured the company's April and May monthly production covenant breaches. Touchstone produced an average of 1,318 bbl/d in April and 1,366 bbl/d in May compared with the minimum monthly average requirement of 1,400 bbl/d. In addition, the amendment reduced the credit facility borrowing base from $8-million (U.S.) to $6-million (U.S.). Currently there is no balance drawn on the credit facility, and the full $6-million (U.S.) borrowing base is dedicated to the company's letter of credit relating to the East Brighton property. The amendment also extended the previously disclosed $1-million (U.S.) prepayment due on May 31, 2016, to July 15, 2016, should the East Brighton letter of credit remain outstanding. In the event that this prepayment occurs or the East Brighton letter of credit is cancelled, the borrowing base is concurrently reduced by an equal amount. Upon the closing of the East Brighton disposition and the cancellation of the associated letter of credit, the company and its lender will assess the credit facility, which may include a new borrowing base redetermination.
lazarus2010
16/5/2016
15:29
thought we might get a boost from the oil price rise and tax breaks in T&T, as yet only a pullback from CAD$ 0.24. Totally unloved stock :-(
lazarus2010
02/5/2016
08:42
but at least not drowning in debt! Recent strength in WTI should be helping to put some cash in the bank, although the hedges will be earning a bit less.
lazarus2010
14/4/2016
16:39
Credit facility update released, TXP not so well-heeled as maybe I imagined.
carpadium
24/3/2016
16:04
had it confirmed by TXP that the escrow cash will be in addition to the above eoy accounts, couldn't be included as the deal had not been terminated at the time (although I don't know why they couldn't have added a post year end note)
lazarus2010
24/3/2016
15:02
2015 Annual Highlights Achieved average oil sales of 1,756 barrels per day ("bbls/d"), 1,600 bbls/d produced in Trinidad and 156 bbls/d produced in Canada. Trinidad production increased 40% from the prior year while Canadian production decreased 61% from 2014. Realized Trinidad operating netbacks of $16,272,000 ($27.88 per barrel) which offset Canadian operating netback losses of $1,475,000 ($25.88 per barrel). Company operating netbacks were $14,797,000 or $23.09 per barrel, which represented a decrease of 2% from the prior year. Reduced annual per barrel operating expenses by 16% or $4.85 per barrel from 2014. Trinidad operating costs reduced by approximately US$4.97 per barrel or 22% from the previous year. Generated positive corporate funds flow from operations of $2,908,000 ($0.04 per basic share) compared to $390,000 ($0.01 per basic share) in 2014. Trinidad operations generated funds flow from operations of $7,157,000, offsetting Canadian funds flow losses of $4,249,000 recognized in 2015. Recorded a net loss of $22,147,000 ($0.27 per basic share), which was primarily driven by non-cash property and equipment impairment charges mainly associated with the decrease in forward commodity prices. Reduced net debt by $7,913,000 from the prior year, as the Company exited 2015 with a net surplus of $987,000. Entered into various ICE Brent referenced financial swaps for 800 bbls/d at an average price of US$63.25 for the 2016 year. Released an updated independently evaluated reserves assessment prepared by GLJ Petroleum Consultants Ltd. with proved plus probable reserves growth of 5% over 2014, increasing to 15,465 Mbbls and achieving a 219% reserve replacement ratio with total 2015 gross reserve additions of 679 Mbbls. Achieved Trinidad based proved plus probable reserves finding and development costs of $5.83 per barrel including future development capital. Disposed of various non-core Canadian assets for combined cash proceeds of $8,500,000. On February 1, 2016, disposed of the Kerrobert property and various undeveloped land rights for cash proceeds of $650,000. Through the disposition, the Company immediately eliminated operating losses and transferred its estimated Canadian discounted decommissioning liability balance of $4,028,000 to the purchaser effective December 31, 2015.
lazarus2010
24/3/2016
14:48
from LGO...I would expect this to apply to TXP although I haven't seen any mention of it. ------------------------------------------------------------------------------ LGO Energy plc (LSE AIM: LGO) today confirms that it has been notified by the Petroleum Company of Trinidad and Tobago Limited ("Petrotrin") that overriding royalty rate reductions for the Company's production at the Goudron Field in Trinidad have been approved and these reductions come in to effect from 16 March 2016 and will apply to sales made from 1 February 2016 forward. The new royalty rates, which apply to production at oil prices below US$50 per barrel, will see the royalty rate on the majority of barrels produced reduced by over 40% to rates below 10%. This will have a net revenue benefit at current oil prices and production levels of approximately 10% to Goudron E&P Limited ("GEPL"), LGO's wholly owned Trinidadian subsidiary which operates the Goudron Field. That impact will increase at higher production levels. GEPL is committed to increasing production from the field and will look to reinvest the savings in additional well work. ------------------------------------------------------------------------------ Did anybody notice the 2015 results have been published? Company has eliminated all Canadian loss making operations and has good hedges in place for 2016 (although I'm not sure how long these last, didn't read all the results document just yet)
lazarus2010
14/3/2016
07:54
Carp - I saw that; I think TXP maybe happy with the outcome; the last thing TXP needed was debt at this time. I still believe the O&G companies are under tremendous strain and as inventories build I can see a retest of $27 WTI. I note that even with oil rallying, the prices at the pump have stayed static, that is unusual imo and must be due to inventories.
jamesiebabie
14/3/2016
07:47
Disposal Update, Trinity news 14/3. On 21 October 2015, Trinity announced that it entered into an agreement (the "Touchstone SPA") to sell its interests in the WD-2, WD-5/6, WD-13, WD-14 and FZ-2 licenses and related fixed assets (the "Blocks") to Touchstone Exploration Inc. ("Touchstone") for a cash consideration of US$20.8 million. This sale was subject to various conditions precedent, however by the back stop date, one of these remains outstanding. The Touchstone SPA relating to this disposal had a backstop date of 13 March 2016 and this has now expired without all of the required consents having been received, entitling either party to terminate the Touchstone SPA. The Group has now sent a termination notice in respect of the Touchstone SPA to Touchstone. As a result, the sale of the Blocks to Touchstone will not complete and the deposit of US$2.08 million, currently held in escrow, is expected to be released to Touchstone under the terms of the Touchstone SPA and a related escrow agreement.
carpadium
09/3/2016
17:23
FYI - I'm going to trim the header details as I don't have time to update it. I'll leave the news, charts and links to the company, etc. Having a whale of a time with my other stocks which keeps me smiling. I've even had some baggers in the last few months; I can't believe it when things on a personal level aren't quite what they used to be; I'd rather have the family fit!
jamesiebabie
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