Touchstone Exploration Share Discussion Threads

[zengas] 30/7/2018 13:17

It is very conservative MT and imo could be possible for a triple figure share price with average success.

TXP has around 15 mmbls P2 on 3,049 net acres after last March 2018 P2 reserves increase. They are still drilling those properties and likely to increase reserves further.

From the T&T presentation in January 2018.
3 of TXPs main producing assets -
Coora Blocks 1&2 combined = 1,699 net acres = 4.4 mmbo P2.
WD-4 block = 700 net acres = 3.8 mmbo P2.
WD-8 block = 650 net acres = 4.4 mmbo P2.

Total = 12.6 mmbo P2 on 3,049 net acres out of a total 15.698 mmbo P2 including the minor properties. Then came the March 2018 P2 reserves update which increased the reserves on those properties by a further 18% net and after production.

The Ortoire block is 35,785 net acres. It's got world class potential because it has at least 4 existing discoveries - has structural traps, stratigraphic traps, turbidite deposits and both shallow and deep potential and you can see the amount of reserves/acres from just some of the formations and pay attributed to Coora and WD blocks.

There is over 200 mmboe recoverable reserves found on 3 sides, just outside of the block boundary in 4 accumulations that would cover only a sixth of the Ortoire block.

[lord gnome] 30/7/2018 13:15

No shortage of stock now they've moved up the price. Just had an online quote to buy 50k at 20.45 and 100k at 20.6

[mount teide] 30/7/2018 13:03

Zen - 'Ortoire which has oil, has 4 targets each of which could be greater than the current share price.'

Some might suggest that is a very, very conservative statement considering they are targeting 4 prospects commencing Jan 2019 that they consider to have potentially "Carapal Ridge Plus" size reserves.

[zengas] 30/7/2018 12:56

The Shore Capital upgrade last week.

'The City broker’s bullish view comes after its analysts upgraded their sum-of-the-parts valuation for the Trinidad-focused oil producer by circa 20% to 35p

" ... their risked NAV estimate for Touchstone has been upgraded to 35p a share"

The analysts concluded: “We see strong scope for further Risked NAV upgrades as a result of 3P reserve additions and increasing visibility on drilling plans for the high impact Ortoire block"

Reserves upgrade to come from this years development drilling. If it's a further net 18%-20% lift, it could improve the target price to around 42p and that's before Ortoire.

Ortoire which has oil, has 4 targets each of which could be greater than the current share price.

[brasso3] 30/7/2018 12:51

This has been going up in tiny movements. I feel a big move is coming...

[mount teide] 30/7/2018 12:44

cfc - i see L2 as like navigating(investing) with the aid/assistance of a radar on the bridge of a ship in restricted visibility - lets you see what is going on beyond the visible horizon(the electronic book beyond the headline bid and ask prices).

Often find this infö very useful, particularly when electing to average up on pullbacks.

[captainfatcat] 30/7/2018 12:32

Bid showing as 19.7 for me

MT thanks for the level 2 info

[awise355] 30/7/2018 12:26

Buys are coming in strongly now could be a trading platform algo buying consistent bundles of stock

[mount teide] 30/7/2018 12:14

L2: 1 v 1 / 19.5p v 20.0p (one mm on 20.6p the rest on 21.0p)

[gymratt] 30/7/2018 11:42

Can't buy even a small amount on line.

[essential] 30/7/2018 11:37

Parabolic heaven....

[mount teide] 30/7/2018 11:08

L2: 4 v 2 / 19p v 20p

[rafieh] 30/7/2018 11:08

If not 35, at least 30p in very short term. All it needs to get there is a positive update, and that could be out within a couple of weeks.

[someuwin] 30/7/2018 10:56

35p target.

[awise355] 30/7/2018 10:55

Lse are talking about Mr £10K, I like mr £10k :)))

[rafieh] 30/7/2018 10:50

If anyone knows other share price charts which are as delicious as this one, please let me know. I'd be happy to remortgage the house and spread the money over shares like this.:-))

[someuwin] 30/7/2018 10:31

Can't buy many online. They're going to have to move it up.

[mount teide] 30/7/2018 10:27

L2 - strengthening on modest buying pressure:

Opened 1 v 1 / 18.5p v 19.0p

Now 1 v 3 / 19.0p v 19.5p

[2prsimo] 30/7/2018 09:52

About time - high 18's was peppered all last week - 19.50p just paid

[crooky1967] 29/7/2018 23:28

PB told me back in June next update would be 14th Aug.

[mount teide] 29/7/2018 21:47

TXP has previously had new wells on production for circa 60 days before releasing production figures.

Wells 4 & 5 of the 2018 campaign went on production during the first week of June - suggesting an Operations update with production data in the next week or so. The update will likely contain news on the 6th and 7th wells the first of which spudded in the second half of June.

[brasso3] 29/7/2018 18:16

I expect the Q2 results will confirm that the year end target will be met sooner than expected.

Paul Baay, President and Chief Executive Officer of Touchstone, commented:

"The drilling campaign continues to provide significant organic growth for the Company. With current field estimated production of 1,821 bbls/d Touchstone has grown production by 42% compared to the first quarter of 2017. With two wells coming on production in the next month and five more wells planned for 2018 the Company is well positioned to exceed our 2,000 bbls/day goal for this year."