Touchstone Exploration Share Discussion Threads

[lazarus2010] 18/2/2015 08:11

JB - per day I presume, so close to C$850k per month? Not too shabby. As you mention the word 'profit' would that be gross or net ie be before G&A or after?

[jamesiebabie] 17/2/2015 22:59

I suspect we should be clearing c.$12/bbl or c.$27k-28k profit.

[carpadium] 16/2/2015 16:41

Post deleted, sorry everyone for duplication, forgot we're in Feb not Jan!

[jamesiebabie] 12/2/2015 12:31

"With a focus on consistent 2015 production growth, the Company anticipates corporate funds flow in the range of $13 to $14 million with corporate average annual oil volumes of 2,700 to 2,900 barrels per day (“bbls/d”;). Furthermore, the Company is focusing on reducing its Trinidad operating expenses and has committed to reducing its general and administrative costs in Canada and Trinidad by at least 20 percent and 10 percent, respectively."

[jamesiebabie] 12/2/2015 12:21

Laz - news will come in c.3 weeks with regards to the previous wells drilled. They do not provide individual well updates.

Production is expected to increase throughout the year even with just the one rig;they are expecting an exit rate of 2,900bopd by the end of the year with a reduced drill schedule, remember that the majority of the wells have already had their big declines, so the current level is stable [relatively].

[lazarus2010] 12/2/2015 11:08

any news on this well yet?

The second WD-4 well (PS-583) was drilled to a total depth of 5,548 feet and was logged on December 31, 2014. The well encountered 195 feet of pay in the Upper Forest formation and will be completed prior to the end of January 2015.

[lazarus2010] 12/2/2015 11:03

JB, thanks for that.

Looks a good buy at these levels then, especially if the 'analysts' get it right and we see a rebound in PoO in the 3rd qtr 2015.

Very comforting strategy implemented, they can't be hurt by the banks and their hedging covers a good portion of 2015.

How do you see production going from their 1 rig programme? Do they expect to increase production albeit at a slow rate or will they just cover natural decline rates from existing wells? I would guess that if natural decline is 20% pa (no idea if that is anywhere near correct) then they need to add c. 450bopd to existing production. At 60bopd IP rates they would need to drill 7-8 wells over the next 12m?

[jamesiebabie] 12/2/2015 08:24

For 2015 the Company will continue with a one rig development drilling
program and will focus on the Coora and WD-4 properties, both of which have yielded the greatest capital efficiencies through 2014 with higher initial production rates, stable base production volumes and lower operating costs.

Pursuant to the recently announced credit facility, the Company entered into a one year Brent referenced financial swap for 800 bbls/d at a price of US$70.60. In addition to the swap, the Company purchased a call option on 800 bbls/d at US$90.00 commencing April 1, 2015 through November 30, 2015. These agreements
were completed on a costless basis and help protect the Company against Brent prices below US$70.60 while retaining exposure to Brent prices above US$90.00 per barrel.

[jamesiebabie] 12/2/2015 08:20

Scott Budau, Chief Financial Officer said “we have worked diligently to strengthen our capital structure over the last two years and prefer to maintain our current flexibility by fully funding our capital program through funds flow.”

[jamesiebabie] 12/2/2015 07:59

Laz - TXP are not looking to use their debt facility, they are using free cash to drill. After all costs TXP are making c.$22,000 per day. TXP stated they will not use the facility at these low levels.

Here are the netbacks that I have drawn up from one of their charts, I've just extended it downwards.

[jamesiebabie] 10/2/2015 22:00

spread was 31c-35.5c, no?

[johnsmithmmxiii] 10/2/2015 21:59

I see the bid/offer as .31/.32 so no 11% spread? Also the trades page on advfn doesn't seem to tally with your chart trades? Can't see those 90k and 80k trades? Total buys and sells on advfn shows as 77k & 165k? Maybe I'm not getting the correct data feed?

[jamesiebabie] 10/2/2015 21:32

It's in the spread JS. 11%

[johnsmithmmxiii] 10/2/2015 21:22

And the few sells!

[johnsmithmmxiii] 10/2/2015 21:20

JB - Bit of a nasty drop at the close there? Any thoughts other than PoO dropping?

[jamesiebabie] 09/2/2015 23:26

Fro Raging River

2015:
H1 2015 anticipate drilling 55 net Viking horizontal wells
H2 2015 capital program contemplates ~130 net additional
Cashflow at Feb 2 strip pricing of 155-160 million for 2015
Exit 2015 net debt of ~90-95 million or 0.6 x D/CF
Inventory enhancement through accretive acquisitions



TXP's acreage is right in the middle of their core holding!!!

[jamesiebabie] 06/2/2015 15:19

Laz - he has bought well over 500k in the market over the last few months.

[lazarus2010] 06/2/2015 11:43

JB - I hope he's not Mr. Wrong! I remember you mentioning he was buying at close to C$1.00? He must pretty confident in the future of TXP and be expecting significant increase in the share price ..as well as just averaging down!

[jamesiebabie] 05/2/2015 23:11

I note Mr Wright was buying again, over 150k in the last two weeks.

[lazarus2010] 05/2/2015 07:04

checked last night and the trades had come through, might be my slow dial-up connection or my 286 processor ;-(

[jamesiebabie] 04/2/2015 16:33

I can see trades, but then again I pay to be blue. Just get your money out of your deep pockets and pay. ;o)

[lazarus2010] 04/2/2015 14:37

doh, hadn't thought of that one (NOT!)

was thinking more of a buy/sell table.

[jamesiebabie] 04/2/2015 14:15

Look at the chart and volume for the day, above?