Touchstone Exploration Share Discussion Threads

[lauders] 06/10/2018 12:26

So do I Mr. T! Wish you the best. My holding is nothing compared to that but when funds come my way I may look to top-up on any weakness. At the moment I am hoping AMER might make a decent move and allow me to perhaps switch into more TXP. Only time will tell.

[awise355] 06/10/2018 12:19

Big numbers

[mr. t] 06/10/2018 12:16

In total I bought circa 800k more TXP shares this last week. Fingers crossed it's a good decision.

[mount teide] 05/10/2018 15:39

L2: 1 v 3 / 21.0p v 22.0p

Flirting strongly with a post H1/2016 recession high.

[mount teide] 05/10/2018 15:21

L2: 2 v 4 / 20.4p v 22.0p

[junky monkey] 05/10/2018 15:04

Up over 6% in Toronto now.

Looking forward to leaving these low price levels behind.

[mr. t] 05/10/2018 14:31

Based on previous months, I expect we'll get an operational update either next week or the week after.

Let's hope the teething problems from recent drills have been resolved and a chunk on new oil has come online.

[mount teide] 05/10/2018 14:16

L2 strengthening: 2 v 3 / 20.0p v 21.0p (rest on 21.6p and above)

[mount teide] 05/10/2018 13:43

Rapidly rising production, falling operating costs per barrel, most SPT offset by a continuous drilling campaign in a $80 - $90 oil price environment should't even test the maths skills of Dianne Abbott as to what this will mean in terms of cash flow development.

Mr T and David & Monique Newlands clearly had no trouble working it out.

[crooky1967] 05/10/2018 11:46

Totally doing the right thing and drilling as much as possible while cash is coming in, will mean that if there is a downturn in Oil prices then debt will be manageable. Can't see oil coming down anyway unless either Iran or Trump back down and I can't see that happening.

[walter walcarpets] 05/10/2018 11:43

ping - must be new highs coming soon.

[brasso3] 05/10/2018 11:43

This will be at 25p once the 2000 BOPD is confirmed.

[tektonik] 05/10/2018 11:41

Yeah, spot on mr.t. A higher oil price serves only as an accelerator to maximise on the existing assets and development of new ones, i.e. Ortoire.

[mr. t] 05/10/2018 11:06

I've continued to buy, increasing my TXP holding by more than 50% over the last few days and it is now my second largest holding.

Spangle and Fardels Bear are right to caution about relying on higher oil prices. But I do think the current Brent price - when combined with increasing production - will provide the extra cashflow to answer questions about how Touchstone's ambitious drilling plans will be funded.

I believe potential investors will more and more see that TXP's debt is manageable, its investment plans shrewd, and its cash flow generation impressive. Then, they'll see that TXP is undervalued compared to peers and fundamentals. Finally, investors will want a piece of the Ortoire upside as drilling gets closer.

All good news for current share holders.

[spangle93] 05/10/2018 03:36

Just a wee bit of historic information to chuck into the mix

Ref Carapal Ridge

The sales gas is delivered to Petrotrin's refinery at Point-a-Pierre for use as fuel gas. The gas pipeline has a design capacity to facilitate full-scale field development. The 10-inch pipeline is capable of transporting in excess of 180 million cubic feet per day of natural gas at the operating pressure of the plant.

Gross production from this well during the second quarter 2003 averaged 17.6 mmcf/d and 469 bbls/d of condensate. The well has deliverability of approximately 100 mmcf/d, but is restricted to current sales contract volumes.


Meanwhile,
@Mount Teide, ref pipeline question last week
By the end of the fourth quarter of 2002, construction of the gas processing facilities at Carapal Ridge-1 (CR-1) was completed and an 11.5 kilometre, 10-inch pipeline connecting the well into the National Gas Company (NGC) grid at the Trinity metering station was installed. The plant was constructed and brought into service for US $2.4 million and the pipeline was constructed for US $2.1 million.

So you'd need to halve this cost for half the length to Corosan, at least double it for price escalation over that period, at least halve this result again for a smaller diameter, and then correct for any terrain issues that would make a Corosan line easier or harder to install than the export flowline from Carapal.

[wanobi] 04/10/2018 15:40

thanx MT, should be moving on up then!! cheers Wan

[mount teide] 04/10/2018 15:31

L2: 1 v 1 / 20.0p v 20.8p (rest on 21.0p or above) + 1.0p / (5.1%)

Vol today: 763k / (Monthly average daily volume: 297k)

[brasso3] 04/10/2018 13:15

CERP is around fair value now IMO. I will reinvest there at sub 3.8p if I get the chance as I rate the management team. TXP is on a different trajectory and should close the gap on TRIN very soon.

[jon1962] 04/10/2018 12:54

Thanks for reply

[crooky1967] 04/10/2018 11:43

The bonus over CERP is that due to higher production and more cash coming in they can afford to drill more wells per year than CERP and thus increase the gap between bopd.

Still believe the market cap should be somewhere between CERP and TRIN though and our production should match or exceed TRIN's by end of 2019.

[crooky1967] 04/10/2018 11:39

CND $15m but they do not need to start paying off until 2021

[jon1962] 04/10/2018 11:38

What is the debt anyone please?

[brasso3] 04/10/2018 10:20

TXP and CERP now on par based on market cap (~£26m).

CERP production = 700 - 1000 BOPD (incl Steel drum)
TXP production = 1900 - 2000 BOPD

The main negative when comparing the two companies is the debt that TXP carries but I believe that is perfectly manageable.