Touchstone Exploration Share Discussion Threads

[deeppockets] 09/8/2018 07:26

Zengas, are you happy with that then, I know you understand the O&G stocks better than most.

[mr.oz] 09/8/2018 07:24

Will be ambitious to expect those remaining 7 to contribute by year end if 4 not contributing now?

[zengas] 09/8/2018 07:18

Healthy rise to 1757 bopd for all of July.

This years drill programme was for 10 wells.

4 of the 7 wells that are drilled, still to come on stream and 3 more yet to drill with No 8 ready to spud.

Up to 7 wells in total to contribute to further production.

[someuwin] 09/8/2018 07:16

Paul Baay, President and Chief Executive Officer, commented:

"I am pleased to report that we now have drilled the first seven wells of the ten well program. With four of the seven wells yet to contribute to our current stabilized production, we are excited to increase production in the near-term. With the combination of these four wells and the remaining three to be drilled this year, we are looking forward to a strong start to 2019. In addition to the existing drilling program, the Ortoire exploration opportunities and future development potential are expected to contribute to our robust growth objectives going forward."

[deeppockets] 09/8/2018 07:10

Ross, were you expecting greater production numbers? I was hoping for much closer or even over 2k.

[captainfatcat] 08/8/2018 18:48

Following a nice steady pattern, move up, pull back consolidate, move up, pull back consolidate, chart says it all.

[brasso3] 08/8/2018 18:02

Happy for the pullback.

Let the momentum build for the Q2 results.

[novicetrade68] 08/8/2018 17:59

250k buy from yesterday published, probably Mr. Sneller.

[mount teide] 08/8/2018 13:34

L2 - looks like MM's don't like having their book and actual quotes published -

Currently the book is showing as: 1 v 1 / 20.4p v 21.4p

The actual quotes for 20,000 shares is: 21.11p and 21.55p!

[mount teide] 08/8/2018 12:41

L2; SCAP replaces CANTOR on the bid - Looks like SCAP has also found a client who is willing to pay 21.0p for some volume too!

[mount teide] 08/8/2018 12:24

A further circa 500k seems to have sated Cantor's client - finally moved off the bid.

Current quoted spread is 20.54p v 21.45p

[mount teide] 08/8/2018 11:57

Interesting - 436K reported volume so far today - Cantor have picked up a fair bit more volume this morning than by the same time yesterday - but are still electing to keep the bid firmly anchored at 21.0p - looks like they may have found the sweet spot to continue accumulating at a reasonable pace.

[mount teide] 08/8/2018 10:43

$90 Oil Is A Very Real Possibility - OilPrice.com

U.S. sanctions on Iran could push oil prices up to $90 per barrel later this year.

The first round of U.S. sanctions on Iran just took effect, a slew of measures targeting Iran’s currency and its financial sector. The U.S. sanctioned the trading of bank notes issued by the Iranian government, the trade of gold and precious metals, any transactions involving the Iranian rial, Iran’s sovereign debt and its automotive sector.

The sanctions will tighten the screws on the Iranian economy, and the measures have already sent the currency tumbling. However, the more important sanctions – targeting Iran’s oil exports – take effect in November.

There is still a wide range of possibilities for what is set to occur over the next three months in regards to the impact on production and exports. Originally, the Trump administration stated its desire to push Iran’s exports to “zero.” The subsequent spike in oil prices forced them to backtrack quite a bit.

But, the Trump administration has made it clear that it wants to cut off as much Iranian supply as the market can bear without sending prices up too much. Those are, in many ways, conflicting goals, but it likely means that a significant chunk of Iranian production will be disrupted.

“I don’t think the market has fully baked in losses over a few hundred thousand barrels [per day]. That’s where the price impact potentially would come in,” Richard Nephew, a senior research scholar at the Center on Global Energy Policy at Columbia University, told S&P Global Platts Capitol Crude on Monday.

“I think Iran will lose between 600,000 and 1 million barrels per day in exports, and that’s up from what I would have thought back in February,” he added, citing the Trump administration’;s determination to push exports as close to zero as possible and the willingness from countries around the world to comply with American sanctions.

Meanwhile, U.S. shale is already slowing down, and, in fact, shale output might have been slowing much more significantly in recent months than previously thought. EIA data released last week showed only tepid growth in the Permian for May, whereas the agency had previously expected growth to be robust for that month. The pipeline constraints in the Permian are clearly already starting to bite.

In other words, the oil market could see a disruption in Iranian supply at the same time that U.S. shale output is slowing down. All the while demand continues to grow.

"As we go more towards (the fourth quarter) … that's when we really see the risk of prices going well into the 80s and potentially even into the 90s but very critical is how much Iranian production we lose," Amrita Sen, chief oil analyst at Energy Aspects, told CNBC's "Squawk Box Europe" on Monday. She expects Iran to lose between 1.2 and 1.5 million barrels per day by the end of the year compared to the April peak.

In the short run, oil prices received a lift on news that Saudi Arabia cut production in July to just 10.29 mb/d, down about 200,000 bpd from June levels. The unexpected reduction reportedly came in response to Saudi Arabia’s inability to find buyers for its oil at the price that it had wanted. Instead of offering a lower price, Saudi Arabia apparently decided to simply cutback on output.

The move was not anticipated but it is an indication that Riyadh is determined to keep prices somewhat elevated, and has no interest in letting them fall ahead of the implementation of sanctions on Iran. Instead, it seems that Saudi Arabia will try to calibrate production so as to keep prices within a desired range, tweaking output up or down in a given month to achieve market “balance.̶1;

However, that could prove difficult if the Trump administration aggressively tries to disrupt Iranian supply. Saudi Arabia, Russia and a handful of other Gulf States can ramp up output to offset the declines from Iran, “but then you are running out of spare [capacity] for accidents,” Richard Nephew told Capitol Crude. “You’re running out of spare for Venezuela. You’re running out of spare for Libya. And that’s not a great place to be. I candidly think that that is also going to start affecting prices as well.” '

[mount teide] 08/8/2018 09:18

CANTORS are getting a few bites so have gently lowered the actual quoted price towards their electronic headline bid price.

If they continue to attract interest would expect them to gently tickle the headline figure down.

[mount teide] 08/8/2018 08:47

Richard Sneller - Head of Global Emerging Market Equities & Partner - Baillie Gifford

LinkedIN:
'Highly experienced Emerging Markets investment manager focused on seeking out under-appreciated long-term equity growth investments. Skilled in investment research. Passionately believes in empowering investors to take risks and be patient.'

TXP would be a natural target of such an investment culture.

Even more encouraging that this holding is entirely for his personal account!

[mount teide] 08/8/2018 08:30

As yesterday, Cantor opened(21.0p) a little below their closing bid price(21.4p) of yesterday.

Likewise, they have positioned themselves on the bid to have further room to reduce the price should they generate selling interest - clearly still set up to accumulate.

[spangle93] 08/8/2018 08:15

Last year's 2Q results were published on 11 August, so this year's should be anticipated before the end of next week, possibly even by Friday this week.

We should get a clearer picture of performance to date, netbacks, well failures, and the direction of travel ref self-funding once these are published.

[deltrotter] 08/8/2018 08:08

Still looking for sellers here....

[sleveen] 08/8/2018 07:54

I've cut my holding further recently, on the basis that the current share price must be tempting management to think about a fund raise.