Touchstone Exploration Share Discussion Threads

[sleveen] 19/2/2019 09:25

iLeeman

Comparing apples with elephants.

Given the cessation of development drilling for substitution with Ortoire exploration drilling , the TXP risk profile has increased substantially IMHO.

[ileeman] 19/2/2019 09:20

To raise at market price with institutions is extremely good, little to no retail involved in the book is a very good thing. Cash injection and sticky holders.

Just look at SBTX raise the other day for reference.

Anyway enough posting on her for one day, lets see what happens.

[ileeman] 19/2/2019 09:05

I refer to my last post Ros what card are you going to pull out now lol will be interesting to see

[sleveen] 19/2/2019 08:58

iLeeman

The chance of success is pretty high with Ortoire, but if it fails there can be no doubt that more funds will be needed.

I await events.

[ileeman] 19/2/2019 08:53

Nope maybe you should.

Not sure you have heard of the word farm in, there are many options open to them. Obviously TXP wanted to retain their %.

You might see an institutional raise at market price as a bad thing but I dont.

As I said what are you going to pull out now as you cant pull the raise card out anymore haha

[ileeman] 19/2/2019 08:23

@ros

They raised at market price (actually above if you include broker fees) and most went to institutions otherwise they would have got the price they did.

Did they have to raise no but they did and the terms are good, good price no warrants, institutional.

You cant pull out the raise card now so ill be interesting to see what you do pull out now lol

[captainfatcat] 19/2/2019 08:13

Well that has kicked a lot of uncertainty down the road

Let the drilling commence 8-)

[wanobi] 19/2/2019 08:11

although this RNS goes against everything that was said and with a rising POO I actually don't think its a bad ting to do.... :-) let's not mess around, just go straight for the golden goose as soon as we can... at least now we all know exactly what's going to happen in the next 4 months.... so now the question is,,,, what's the COS for this?? cheers Wan

[hari] 19/2/2019 08:02

Disagree with that 40% discount I would say When the insiders got news of the placing they sold it down from 20p to 111p

[ileeman] 19/2/2019 08:00

"Private placement directed towards United Kingdom institutional investors (the "Private Placement")"


I would say little to no retail involved at that price, I guess if company are offered money at market price then they are going to take it gives them a bit more leeway into drill I guess.

[astorcourt] 19/2/2019 07:58

stopping the rest of the drilling program because of volatility in the oil markets

But its ok to go gunho on a wildcat rather than the safe proven route.

This man is a gambler.

[ileeman] 19/2/2019 07:57

JubCap
‏@JubCapital

#TXP have some interesting drill coming up in Q2/Q3 - smart move to make most of recent oil price rise with 4% discounted raise.

[che7win] 19/2/2019 07:56

They are curtailing drilling to preserve capital which is what Dr Paul Be at said he would do some time ago when I communicated with him.The money will be used for wells that could transform the compsny

[king suarez] 19/2/2019 07:55

Explains why the price has barely moved recently in response to the POO rally.

Part of me is slightly disappointed, but part is equally pragmatic and thinks it is a reasonably sensible/astute move and should ensure the drilling programme does not get held up should POO dip.

[2prsimo] 19/2/2019 07:54

I thought that was a poor RNS to be fair - also stopping the rest of the drilling program because of volatility in the oil markets - hmmm.

[hari] 19/2/2019 07:54

What presentation was that ?Co telling porkies I think

[hari] 19/2/2019 07:51

Well well I will not gloat :-)The recent share price movement down now explains what was going on behind the scenes I guarantee you will be able to buy below placing price at some point So also stopped drilling program of other wells to drill OrtoireNot sure I agree with the reasoning though They alluded to that in previous RNS

[astorcourt] 19/2/2019 07:49

Oh dear . Grim. I thought the company was doing well with its profits and didn't need dilution. I will be selling this dog on the open.