Touchstone Exploration Share Discussion Threads

[deltrotter] 07/8/2018 17:18

500k buy from yesterday just been published. I thought there was someone keen on buying stock. Judging by today's action they haven't finished yet...

[mount teide] 07/8/2018 17:03

marvelman - for the record - i recall some TRIN shareholders(i suspect mostly short term traders) actually posting on the TRIN board that they had sold out of TRIN at circa 25.0p-27.5p after a good run and put the proceeds to work in TXP - it was one of many catalysts responsible for the recent re-rate of TXP which continues to trade at a significant valuation discount to it T&T peers.

I also posted, in protest at the hugely discounted TRIN placing, that i had sold down at an average of 17.0p most of the additional shares i purchased at an average of circa 21.5p in TRIN and put the proceeds to work in TXP at an average of 16.75p.

I am pleased to say that total transaction is now worth 21.75p in TRIN share price terms - it has recovered all my losses on those TRIN shares that were additional to my core TRIN holding - which although is circa 40% down as a result of sitting on my hands for three months, is still in profit and likely to do very well over the next 2-3 years.


Edit: Don't see why i should help a TRIN management that benefitted at our expense from a placing that at the time was some 80% of TXP's market cap - and all we as TRIN shareholders see for it is some 10 new wells before the end of 2019, when TXP could well be drilling up to 27, along with 4 ultra high impact exploration wells - to say i'm still smarting and less than impressed at what they did to me and many others who paid up to 27p for additional shares is an understatement.

AIMHO/DYOR

[marvelman] 07/8/2018 16:41

"Shareholders who sold out of TRIN at 27p shortly before the placing and re-invested the proceeds in TXP at the then 14p price would now be 143% up compared to those TRIN shareholders who elected to sit on their hands"


Rather disingenuous of you there MT. 27p was the top of the recent highs and no one had thoughts of it plummeting to 21p and subsequently a placing at 15p. People then were talking of 35p targets and not without foundation based on the noises coming from the BOD. TXP has rightly continued its rise but no one can predict that a placing will not come here at any time also. Hindsight eh. If you still have your long term holding in TRIN as you have recently confirmed then I assume you have been sitting on your hands also. I write with the greatest respect but I do feel there are two sides to any argument. Regards.

[deltrotter] 07/8/2018 15:31

About to go ballistic....

[2prsimo] 07/8/2018 14:48

It just has someuwin - 21.90p paid for 30k's worth - the chart is absolutely textbook

[someuwin] 07/8/2018 14:44

Think this will be moving up soon.

[mount teide] 07/8/2018 14:36

That equates to a £27m current market!

TRIN raised close to 60% of that in a recent fundraising at 15p and have probably now have less on-shore production than TXP.

Shareholders who sold out of TRIN at 27p shortly before the placing and re-invested the proceeds in TXP at the then 14p price would now be 143% up compared to those TRIN shareholders who elected to sit on their hands.

[novicetrade68] 07/8/2018 14:25

Only 129m shares in issue.

[grannyboy] 07/8/2018 13:07

Way it's going it will be 25p next week..

[brasso3] 07/8/2018 12:58

No stopping this one it seems.

I am hoping for 25p before mid Sept.

[mount teide] 07/8/2018 11:45

L2 - as yesterday, Cantor again hitting the bid aggressively.

Currently: 1 v 1 / 21.0p v 21.4p

[buffythebuffoon] 07/8/2018 10:50

Whoosh...

FWIW rossannan, what's that flying over your head?

carpal tunnel...nerves...

Buffy

[mount teide] 07/8/2018 09:22

L2 - that's the three on the offer on 21.0p at the opening bell gone.

Currently: 1 v 1 / 20.8 v 21.8p ( 2 @ 22.0p, 1 x 22.6p, 1 x 22.8p)

[2prsimo] 07/8/2018 08:27

Good start - 21.00p paid - mm's could struggle a fair bit if this was to get a run of volume

[buffythebuffoon] 06/8/2018 22:55

Rossannan, how about you?!

Buffy

[mount teide] 06/8/2018 20:08

Goldman Sachs Expects “Very, Very Tight” Oil Market - OilPrice.com - today


'Oil demand continues to be strong and the oil market is “eating very quickly” through OPEC’s spare capacity, so we are going into a “very, very tight oil market,” Michele Della Vigna, head of energy industry research at Goldman Sachs, told Bloomberg on Monday.

There is no doubt that we are heading to slowing supply growth, according to Goldman’s expert. Venezuela’s oil production continues to decline, the heat on Iran could remove up to 1 million bpd off the market depending on how some countries like China react, Libya remains in a constant state of unpredictability, and U.S. supply growth is constrained by infrastructure—;taken all together, Vigna sees those factors as “a substantial risk to supply.”

Amid this expectation for a tight oil market, Big Oil firms are now back to being the ‘oligopolies’ of mega projects, a position they last held in the 1990s. No one else can finance big developments, Goldman’s Della Vigna said, noting that Big Oil now could use their stronger position to negotiate improved tax terms with governments, and improved terms with the oilfield services providers.

According to Della Vigna, Big Oil as a whole enjoys an ‘oligopolyR17; now, re-emerging in stronger positions like they were in the 1990s, so investors will want to own Big Oil stocks these days. In this ‘age of restraint’, you’ll want to own both the commodity and Big Oil, Goldman’s expert said.

Goldman Sachs—which has been bullish on oil for most of this year— said in mid-July that it continues to expect that Brent Crude prices could retest the $80 a barrel threshold this year, but probably only late in 2018, not this summer, as uncertainties mount over the timing and magnitude of global supply disruptions.

Della Vigna, for his part, has been expressing bullish views on the major international oil companies for nearly a year. Last September, he said that in the dizzy spending days between 2010 and 2014, when oil prices were above $100 a barrel, the high prices were actually a “dreadful time” for the international oil majors, because everyone was eating the lunch, and Big Oil’s competitive positioning was destroyed. Now Big Oil is in a renewed competitive position because there is competition for new capital investments, which means lower production taxes, much lower production costs, and easy access to resources, according to Della Vigna.'

[mount teide] 06/8/2018 15:43

L2 - Cantor continue to aggressively target the bid.

Currently - 1 v 3 / 20.6p v 21.0

[zengas] 06/8/2018 15:41

Wouldn't be the first time a drilling/well services contractor has done it, but maybe TXP might do a deal with RRDSL for some future wells at cost and an agreed profit share level, in exchange for more business.

[someuwin] 06/8/2018 14:13

Range Resources

Range has announced that RRDSL has won a contract with Touchstone to drill on its WD-8 block in Trinidad. Operations are expected to start in August and the rig is already mobilising for the well, it may lead to further wells for the operator in this field. Having supplied a rig for Shell and now TXP the plan to put a modern fleet of rigs into the country is being justified.

Range is also planning to drill two wells on the Beach Marcelle field this year and thanks to the recent placing will upgrade the BM field to be able to handle more crude and generate more capacity.

[che7win] 06/8/2018 13:54

MT, Noticed that myself, interesting prices today.