Touchstone Exploration Share Discussion Threads

[mr. t] 02/10/2018 09:44

It looks like there's no changes to O&G taxation in the budget:



As you say Mount Teide, the comments on Petrotrin are incredible.

[spangle93] 02/10/2018 08:59

Mount T - Cause and Effect... The industry costs got more bloated costs BECAUSE oil went over 3 figures.

[mount teide] 02/10/2018 08:35

With a leaned down oil industry, oil at $85 today should bring similar returns to when it was $105 - $110 and the industry had bloated costs.

The T&T Budget statement about the cost of running Petrotrin Refinery was surreal - it made British Leyland's accounts look like BMW!

'To continue in its present state, PETROTRIN will require an immediate cash injection of $25.0 billion; but the company will continue accumulating losses at approximately $2.0 billion per annum.'

Around 3,000 workers yet liabilities for private health/medical expenses of over 20,000 individuals through to the grave!

[captainfatcat] 02/10/2018 08:23

SP looking perky this morning.

[captainfatcat] 02/10/2018 07:54

MT lol

Brent flirting with $86

[mount teide] 02/10/2018 07:48

CFC - we may have to wait a little longer - that was the latest Budget Statement on the T&T Website when I downloaded it last night - on re-checking it is actually LAST YEAR'S Statement!

This year's Statement is now up and refers to the new Petrotrin Exploration & Production Unit for which new measures will be introduced to enable the "reinvented PETROTRIN .....to become a profitable and efficient entity that makes a positive contribution to the Treasury."

Will delete 3051.

Fortunately as far as SPT currently stands, TXP's high volume production development drilling campaign spread out over the course of every quarter will mitigate most of it after investment tax credits.

[captainfatcat] 02/10/2018 07:21

MT Fiscal Reform by the end of the year I like the sound of that.

[mount teide] 01/10/2018 23:32

Spangle - I agree, that's why my projections are based on an average of $75-$85 oil over the next 12 months. Have assumed that surviving the half decade downturn will have seen significant cost cutting and that increased production now probably holds the most significant potential for further per barrel reductions going forward.

The point I was making about the potential short term significance of oil flirting with $100 again is that as in the early years of the previous oil cycle recovery stage oil equities have lagged the recovery in the POO, and so a strong short term move above the $79.5 average price of the last 10 years could provide the catalyst the market is looking for to kick start a period of catch-up/outperformance by oil equities.

[wanobi] 01/10/2018 23:18

👍 thanx Spangle, will do, cheers Wan

[mount teide] 01/10/2018 23:17

nov68 - SPT is 18% of gross revenues less royalties less 20% investment tax credits for certain allowable capital expenditures incurred in the applicable fiscal quarter.

The SPT tax is 0% when the weighted average realized price of oil for a given quarter is below $50 per barrel.

According to Paul Baay, with TXP's planned development drilling programme for 2018 and beyond TXP should incur very low levels of SPT.

[spangle93] 01/10/2018 23:15

Hey Wanobi - welcome here

If you follow the Oil Capital link that Mount T posted, make sure you click on the blue "read more here" link at the bottom.

The target price shows 18p in the first article, written in Sept 2017, but the link takes you to June 2018's update, where they now see 35p based on sum of the parts.

It's a bit ambiguous from the article whether there is any value in the target price from the Ortoire exploration (actually it's more like appraisal) program in 2019. Regardless, this is the potential re-rating jewel.


Mr T - I agree with Fardels Bear - a good company will try to do its best to control the things it can affect. Oil price adds value when it rises, it will remove value when it falls. FWIW I couldn't believe the "lower for longer" script of 2-3 years ago, mainly cos you can't take $2-3tn of industry spending out and not suffer the consequences in base removal and lack of additional production later on, but I don't see it going a whole lot further upwards. If that's true, then future netback gains have to be self-won.

[wanobi] 01/10/2018 23:09

just before I sign off, MT, thanks for the update in regard to the mountain climb, I am sure that Vilaflor must have been the place I recall for the cigars!! great to here the locals are keeping up the traditions...:-)

23 miles and 4 hours at an average gradient of 6-7%..... that would kill me for sure, well done to you on that achievement.

Cheers
Wan

[wanobi] 01/10/2018 23:01

Brasso3, many thanx for your communication, I accept your point on laziness...

I have tonight spent at least 4 hours doing as you've suggested, I've been through the header, I've looked at the presentations etc...

I'm tired now; however, I will check your links tomorrow and greatly appreciate your help and support.

My original question here was directed at MT because I have spend a month reading MT's posts and believe MT to be an excellent poster who has done a massive amount of research,,, hence the local knowledge element to my research.

Please take me at my word, I come in peace and mean no harm...

I certainly do not want to disrupt anything.

As I said earlier, I really do not want to re-live my AAZ experience & will refrain from posting here for a while, hope that works for all.. Once again, apols Brasso3... cheers Wan

[novicetrade68] 01/10/2018 22:54

Reading through the posts from the last week I was wondering whether someone would know on the top of their head whether the STP in T&T is of the total revenue, or whether it is on the additional revenue from $50 onwards? TIA!

[brasso3] 01/10/2018 22:50

Wanobi

You upset posters with your style. You are lazy!

Go onto the Touchstone website and read through the last few presentations. Then read them again. If you do not get the information you require then do not invest.



There are also video presentations that are available at a click of a button (unbelievable I know)!





I have just found these in 30 seconds!!!

[wanobi] 01/10/2018 22:44

thanx Crooky, cheers Wan

[crooky1967] 01/10/2018 22:43

Wanobi always do your own research and don’t rely on B.B. posters, although this one is one of the more sensible ones. Have a look at the company rns’s and you tube presentations, especially the latter ones that have us all excited regarding a Ortoire block being drilled next year.

[wanobi] 01/10/2018 22:40

As I do not want to re-live my AAZ experience I will refrain from posting here for a while, hope that works for all.. Once again, apols Brasso3... cheers Wan

[wanobi] 01/10/2018 22:34

Brasso3, I really seemed to have upset you, apologies for that, certainly unintended, I assure you.. actually I've been watching TXP for some time and my first post here is - wanobi - 13 Sep 2018 - 10:29:53 - 2878 of 3038, please check back, thanks.

All, I have my own AAZ & Wanobi thread if you want to check my history...

I have upset a lot of people in AAZ with my questions and I assure you all that I really didn't mean to... I am not here to disrupt anything..

Best to all, cheers Wan

[brasso3] 01/10/2018 22:24

Guys

Just a warning on Wanobi.

He turned up on the AAZ thread a few months ago claiming to be a newbie and did not know the first thing about buying stocks and shares. He completely disrupted the thread and refused to do any research of his own. That is your only warning as I have him on filter already.

[wanobi] 01/10/2018 22:01

that all looks great MT, thanx... What's the coming news timeline on this please, thanks,,,, cheers Wan

[mount teide] 01/10/2018 22:00

wanobi - Many older locals can still be found sitting outside places like Vilaflor half way up Teide, enjoying a beer and a cigar and the entertainment provided by the cyclists busting a gut as they pass by still with steepest sections ahead of them.

Many cycling clubs amateurs consider climbing Teide as a once in a lifetime experience, while others start planning their return as soon as they've done it once. I am firmly in the once only camp - by far the toughest single climb I've ever done - 23 miles and 4 hours at an average gradient of 6-7%.

[wanobi] 01/10/2018 21:19

thanx MT, will look at those links tonight, cheers Wan

I have very vivid images of guys smoking massive cigars whilst we travel up to the mountain cable car, do they still smoke those over there today?

Cheers Wan