Touchstone Exploration Share Discussion Threads

[ileeman] 15/3/2019 13:04

Touchstone production ramps to 2,358 bopd with exciting drilling of Ortoire Block on the horizon – time to buy? (TXP)

[lord gnome] 15/3/2019 12:47

FWIW gentlemen, I have enjoyed reading your posts this morning. Good robust debate and exchange of information. Thank you. 🙂

[sleveen] 15/3/2019 12:42

concur with both posts above

[gabrieloak] 15/3/2019 12:39

"This suggests TXP has a good finance Director who is withholding payments to Petrotrin equal to that they still owe to us."

Or it suggests that perhaps things were not stated when they might have been...which might have been exactly the right decision (bad move TRIN...nobody will know because this is now a demonstrable storm in a tea cup).



"As in many areas of the T&T O&G onshore industry - has this 'theory' idea only again highlighted that TXP leads where others follow!"

TXP not stating a significant cash hole at the time is arguably not leading where others would want to follow...but again i am vocalizing my research.

You have only found out about it today after TXP has created the offset...would you have wanted to know at the time, maybe not?

[gabrieloak] 15/3/2019 12:31

MT - why do you keep making it a competition? I just don't understand it...these companies should be working together lobbying the govt and sharing notes.

I do not post on the TRIN boards or check in but your question is eminently well asked! Only checking here and researching because I am keeping a close eye on TXP.

Hopefully someone else will.

My hunch: Trin announced it before the SPT payment (TXP did not), SPT is paid on the 15th of the month after quarter end (January). It would be a prudent thing to withhold this tax and other variants as some kind of an "offset" to avoid it as TXP has (bearing in mind the landscape of relationship in Trinidad...not jeopardising your long term exposure to getting good assets etc).

It is an assumption but Ross got PB update today and as yet we have not had the equivalent "today" announcement from Trin.

Time will tell!

GO

[mount teide] 15/3/2019 12:16

ross - thanks for the update - so technically we are owed a net ZERO by Petrotrin!

This suggests TXP has a good finance Director who is withholding payments to Petrotrin equal to that they still owe to us.

Using GO's publishing the theory approach before getting a reply from the company - he might post on the TRIN thread if he was still posting there - are TRIN doing something similar? - if not why not?

As in many areas of the T&T O&G onshore industry - has this 'theory' idea only again highlighted that TXP leads where others follow!

[gabrieloak] 15/3/2019 12:11

Ross,

Thank you for pinging PB and wow, GREAT quick response!

That is a good position for the company to be in...and it informs me as to the lay of the land in Trinidad. I appreciate it.

Presumably we will hear something along these lines from TRIN.

I know that they chat with each other.

MT and iL...wouldn't that have been easier if you treated this board not as a propaganda tool but as a research tool.

Over and out

GO

[gabrieloak] 15/3/2019 12:06

Because I am not in current direct contact with the company as do not have a meaningful shareholding...I was hoping others would.

MT et al...I think you might give these Boards a bit too much credit on having some kind of traction on the share price. Or maybe I am assuming that everyone is rigorous in researching where they put their hard earned cash to work!

[ileeman] 15/3/2019 11:51

People have way to much time on their hands.

[gabrieloak] 15/3/2019 11:47

iLeeman...its not news until it is news...it is just a THEORY

[gabrieloak] 15/3/2019 11:47

MT

You are going after the wrong thing.

It doesn't matter if you want to interpret me as having no integrity, no credibility, inconsistency, or whether I hold Trin or not, or am unconvincing to you.

What matters is: am I right in what I have theorized that has energized you to respond to me? Right here, right now, today...for the sake of your holding and the ongoing promotion you have made of this company & management you presumably have engaged with.

If I am wrong, here is something for you in advance as I will be too busy writing to the TRIN management to explain why this has only happened to TRIN...

Draft apology in advance: "I apologize unreservedly for theorizing incorrectly that Paul Baay did not deal with the November Petrotrin receivables issue transparently. It was just a theory as part of my research and all I can say is that, given the language and the actions of the company combined with the (seemingly) absurd possibility that this could only happen to Trinity I made an incorrect conclusion and posted it on the ADVFN board to see if anyone could help clarify it for me.

My apologies for ruffling a few feathers as an honest poster who got fed up with posting on the TRIN board as his investment was made and he was offering what he felt was a lot and getting nothing worthwhile in return."

GO

[ileeman] 15/3/2019 11:37

TXP moving up again.

People clocking on to the news?

[mount teide] 15/3/2019 11:24

Some might suggest you have brought your integrity and credibility into question yourself by deleting only your TRIN posts - for consistency why not delete everything, as it makes your explanation appear less than convincing.

Are you still a TRIN holder?

You will note i have never deleted any Advfn posts during my entire period of membership and openly post much of what i hold and when i've reduced or exited a position.

In common with Paul Baay i respect transparency - something that terrifies all underperforming or dodgy CEO's and most politicians, since it can be used against them.

[gabrieloak] 15/3/2019 11:24

iLeeman

Troll ugly is in the eye of the beholder.

Are you just here to feel better or do you care about the facts?

If you care about the facts then you won't see me as a troll
If you care about feeling good then you will see me as a troll

FWIW Given my knowledge on Trinidad, I have been turning my attention towards TXP to see if it is worth investing and have been scrutinizing the company.

I am being analytical: prove me wrong and I will be the first to apologise and then steer a well deserved question towards Trin management as to why they have been targeted by Petrotrin and how is this just?

If you want to be a long term successful investor...be a big boy and ask questions...think, "Hey, maybe GO has a point, perhaps there is an issue here? How can I find out...if it is true, was this dishonest, a slip up? Does it matter long term to the company? Should I invest now because it is a known issue that will be ameliorated in the future?"

OR

Just call me a troll or a ramper or an idiot or whatever...

Yawn

Is the point valid or not?

[ileeman] 15/3/2019 11:15

Damn so many trolls on this thread first Ros now another troll gabrie

Strange they both ramp TRIN lol

[gabrieloak] 15/3/2019 11:11

I don't actually read the Trin boards anymore as they are a waste of time but if you have written any negative posts on those boards (objective or not) then why can't i write here (objective or otherwise)?

Are you everyone's friend here to rubbish me and mask the facts?

OR

Are you everyone's friend to expose my error here (and then have a go at me)...you will be doing me a favour as I want to know if the Petrotrin issue is specific to Trin or are they being honest?

Crack on...if you are worth your salt then like Ross, you have already written Paul an email...

[gabrieloak] 15/3/2019 11:02

By all means cast aspersions about my theories and motivations...but better for your holding to address if it is true or not.

[gabrieloak] 15/3/2019 11:01

And you are making my point!

you wrote:

"With reference to the recent placing - what you conveniently overlook is that it was to fund the Ortoire Corosan well due to spud in June 2019 - TXP will have received another 5 months cash flow from an average circa 2,350 bopd of production before needing to fund that drill."


I wrote:

"Furthermore, if you assume that PB thought the issue would be resolved, then he may have felt a $3mln receivables hole was not worth mentioning (with a planned or otherwise capital raise and given weak balance sheet) as it would be sorted quickly...when this panned out as Trinity says later into a longer term issue resolved "through 2019" then the capital raise became imperative and declaring the issue impossible.

The capital raise can be for a future exploratory venture BUT needs to cover the receivable hole until it comes in through 2019...kills two birds with one stone.

If I am right then the timing of the drill might conveniently coincide with when Trin announces it has received its $5 mln."

How am I not addressing what you say?

Why not just put the money to work now? Why do you need to wait until June?

[gabrieloak] 15/3/2019 10:57

Do you put forward theories MT?

If so, why can't I?

[gabrieloak] 15/3/2019 10:55

Laugh out Loud...

Swap the word aspersions for theories and you are on the right track.

All I have written is a theory; last I heard that is how progress happens.

Either it is right or wrong.

GO

[ileeman] 15/3/2019 10:52

And worth pointing out the raise was at basically no discount most of which came from TXPs two biggest shareholders.

As I said before if an institution offers you money on such good terms you take it, these are sticky hands with longer term outlooks clearly they see something the market does not at the moment.

[mount teide] 15/3/2019 10:47

Gabrialoak - casting aspersions without any evidence whatsoever to back it up is frankly underhand and offensive, particularly when Paul Baay has been far more transparent with the information he has provided to the market (production development programmes/well result data/well recompilation data/shareholder presentations and Q&A's etc) than anything i ever received from the TRIN board while a shareholder.

In addition, it does your integrity no favours that you deleted all your TRIN posts without informing that thread or that you still continue to post in an increasingly embittered manner on other Advfn threads like TXP.

With reference to the recent placing - what you conveniently overlook is that it was to fund the Ortoire Corosan well due to spud in June 2019 - TXP will have received another 5 months cash flow from an average circa 2,350 bopd of production before needing to fund that drill.

You're far better than that post above!