Touchstone Exploration Share Discussion Threads

[captainfatcat] 09/8/2018 13:30

Spangle lol just thinking about lunch myself a pint and a pie sound pretty good.

[spangle93] 09/8/2018 13:22

Junkymonkey #2471 - well done for accumulating such a stake.

You are correct in your assessment of the communication this morning. It's good to see production growing, with the addition of 40 b/d in July vs the 2Q average.

The flipside is that you immediately think hmm, it was 1821 b/d in the first week of June, according to slide 14 of the AGM. So it's lost 65 b/d average during June. I think that's the figure that has led to expectations behind higher. If you argued that 1821 was necessary at the end of 2Q to balance the lower rates at the start of 2Q to end up with 1717, then you'd expect July to be higher with wells being drilled and brought on production.

I think all this discussion would have been nipped in the bud if TXP's PR company had figured this out and referenced back clearly, i.e. the July figure is lower than we showed at the AGM because two wells have been taken out of production for recompletion to the higher, primary zone, or whatever the root cause. To be fair, TXP isn't as bad as some companies ahem CASP/ROXI, who seem to completely forget in one RNS what they've said in the previous one!

All the production and drilling information is awesome, but one short explanation would have added so much.


CFC - love the pub idea, you're so right. I guess when you post it here, people think you're trying to influence others with your opinion, whereas in a pub, everyone knows the opinions of a few old farts sitting round a table with their half of mild is worthless

[marvelman] 09/8/2018 12:40

Ross...surely that is what it is, a claim. How are we to know or even care if someone has the shares they say they have. Your constantly critical posts referencing TXP however and your reaction to this mornings RNS TXP would lead anyone to believe that you were not holding a position even if you were. No one is calling you a liar but neither does anyone know if you are telling the truth which is only stating the blindingly obvious really. Please can we get back to normal service and move away from this constant spatting.

[awise355] 09/8/2018 12:05

Good recovery. NOG also r covering well off of year lows

[hiddendepths] 09/8/2018 11:54

ross - a little earlier you said - "Maybe people need to get back to posting about TXP, which is what I have always tried to do, rather than about posters."

Time to practice what you preach - please!

[buffythebuffoon] 09/8/2018 11:11

It doesn’t sound like you and I would get on like a house on fire if we met.

End of conversation.

[flyinghorse1] 09/8/2018 11:10

They also have a East Brighton commitment.

[mount teide] 09/8/2018 11:01

Ross - additionally TXP, unlike TRIN and CERP, has now complied with all the minimum drilling commitments of its Licenses except Ortoire, and so going forward will be free to move around the blocks to target the optimum production development prospects.

[junky monkey] 09/8/2018 10:53

I don't see anything wrong with the update today, TXP is absolutely on track to reach the 2000 BOPD goal by the end of the year, it will likely be more than 2000. The production was 1757 while the average was 1717. We're only 250 away from 2000, with several wells left yet to contribute this year. On top of that TXP have increased the number of potential targets in Ortoire. Reading the details gives good insight into the initial kick of production while the pressure reduces, and is the clear reason they delay including production figures for the new wells. Paul communicates very well, and I don't think he has an ounce of slippery sneaky CEO in him at all like you see in a lot of different companies. I have close to 0,3% of the company, and so will use this pullback to get to the rounded 0,3% if I get the chance in Toronto. When it comes to Ross, I think he has likely had some shares earlier and tried to play around trading them and watched as the train left without being able to get back on. There isn't any other reason to put such a negative spin on what clearly is a well run company that is executing more than 100% on their stated goals and timeline. Thanks MT for the good reading. I see we read some of the same stuff, but you have a long cycle view this is interesting and something I need to incorporate more into my thinking. Investing is a life long school, and also something you can do your whole life as a hobby. Thanks to others as well for the good reading.

[buffythebuffoon] 09/8/2018 10:42

rossannan, a simple google of the term would have sufficed.

Just discovering the synonym ‘Nerve Compression Syndrome’ would surely have enlightened you.

Buffy

[fardels bear] 09/8/2018 10:37

So, the traders sold out yesterday, and today they surface creating discord to try to drive down the price. By now they'll have bought back in at a lower price, and will disappear back under their stones. All save the Lord of Missile.Weak holders who sold out will scratch their heads at the bounce..The world and the market marches on.

[che7win] 09/8/2018 10:36

Moving back onto 20s, nice topping up opportunity.Worth 30p now imho

[captainfatcat] 09/8/2018 10:31

I had hoped the headline share price would be higher but had not realised the requirement to test deeper levels or the amount of time this would take (obvious now) and the knock on this has in bringing on production from actual targeted formation. Its no biggy in my book, good progress continues to be made and as we can see from WD4 update this approach has the potential to substantially increase production further down the line if comingling is achievable.

I like the news of WD4 and WD8 particularly with the potential to increase production via comingling formations (maybe this might extend across both blocks) and book new reserves if successful.

Bring it on.

[marvelman] 09/8/2018 10:25

and on and on and...…..

[buffythebuffoon] 09/8/2018 10:13

Rossannan, you clearly are less educated than you try to portray, as you demonstrated when not understanding my one liner following your Carpal Tunnel Syndrome comment.

Anyone who has half a brain knows you want the price lower. You may have pocket money in TXP, so you might correctly have asserted you are a shareholder, but you likely want to buy more, and want it even cheaper than it is.

It’s possible you may be right about a placing, but why not make the comment and leave it there?

You are clearly one of those insecure individuals who take satisfaction from bating people. Truly confident, intelligent individuals make a comment and let it stand on its own merits. People will evaluate the wisdom of any post and make their own judgement. Constant repeating of an opinion gives the impression that the poster is more concerned with trying to impress, rather than impart information.

I can’t recall you ever making a truly positive comment here, and with all the excellent work that this company has produced, I find that incontrovertible evidence that you are disingenuous.

Buffy