Touchstone Exploration Share Discussion Threads

[jamesiebabie] 15/5/2015 06:37

Laz - That appears to be a real 'Big Brother' company, do you hold? I know nothing about these types of companies. Have you looked at AKG [Asanko Gold]? IF not, look at my 'JB' thread as it has a few good links. It would appear to be 'just' breaking out.

[lazarus2010] 14/5/2015 17:55

JB, another Touchstone to take a look at LSE:TGL dyor

[lazarus2010] 14/5/2015 17:26

looking at the figures it's clear that the Canadian op's are a huge negative at the moment. For the bopd figure of 294bopd the loss of C$2.676mln is appalling and they need to get this firmly under control. On a +ve the PoO achieved in Canada is now significantly better than last 1/4 and Trin should be looking pretty good. Also considering they have recompleted 7 wells, the 11% decline in production is somewhat disappointing?
One off costs of 600k for redundancies and -400k funds flow from operations should be eliminated for the current 1/4 but I'm wondering where the rest of the c.-$2.6mln comes from?

[lazarus2010] 14/5/2015 16:58

thanks JB. The Canucks sure buy in big amounts!! 4 x 500 shares @ 0.36 = approx. 4 x £100 - these guys won't get rich from their deals but I suppose they won't get poor either!

[carpadium] 14/5/2015 16:15

Thx Jb. For a pig of a quarter pretty respectable performance I think.

Market seems to like.

[jamesiebabie] 14/5/2015 06:44

Results out later today.

[lazarus2010] 13/5/2015 20:17

yeah I'll say, advfn showing the offer as $2.24 for a short time there, but has dropped back to $0.36!

[dosser2] 13/5/2015 20:05

Moving up nicely

[jamesiebabie] 08/5/2015 21:54

Q1 results next Thursday.

[lazarus2010] 08/5/2015 18:51

lovely Canadians, back up to 0.33 ;-)

[lazarus2010] 07/5/2015 19:48

Canadian wnkrs selling! Back down 8% :-(

[jamesiebabie] 05/5/2015 22:37

Remember we have Canadian producing assets as well.

[jamesiebabie] 05/5/2015 17:42

Getting back to a sweet spot for earning cash, Brent back close to $70/bbl.

[jamesiebabie] 05/5/2015 14:11

Laz - I think 2015 is going to be interesting as it would appear that many new rigs are coming to the island from various companies, which will enable new drilling methods to be applied; TXP are likely to be utilising such new rigs.

[lazarus2010] 05/5/2015 08:02

JB, I don't think there are enough shares available to fill more than 5 or 10k in a single hit, therefore if you put an order in for more than this, it's gonna be broken down and filled as and when they can get shares. That's what I've seen happening with TDD anyway.

[jamesiebabie] 04/5/2015 17:24

I also note Wayne Bertrand, one of the authors of the ogj.com article is a consultant for TXP.

[jamesiebabie] 03/5/2015 23:47

Note who our country manager is and his background, look at what Banker's are doing and what Michael must have been involved in.

[jamesiebabie] 03/5/2015 22:39

Remember TXP have experience in steam EOR and think this is where they may go; also note that two of TXP's properties have had steam injection projects that were successful in the 1970's; I suspect with the new 3D seismic TXP have got, things are about to 'heat up'.

Do TXP have access to the steam facilities?

[jamesiebabie] 03/5/2015 16:21

Laz - the metrics look good,; keep them coming as I cannot be bothered posting all mine. :)

TXP suggested drilling could start in June if the PoO recovers, I wonder if it has?

I understand that so new rigs are due on the island later this year, so some more advanced techniques can be adopted.

PS. I have added again over the last few weeks and the trades do not appear to show as one; the broker must split them up to hide them.

[lazarus2010] 30/4/2015 20:15

TXP has Proved plus Probable of 17.8mm boe @ C$18.70/bbl this would be C$332mln (TXP state $395mln before royalties)

I presume the asset sold above must have some huge potential upside and of course it's producing almost 2x's, however it shows there must be a complete disconnect between TXP sp/market cap and the value of the underlying assets.

I think the below extract from the March reserves update actually gives a good indication of the possible asset value in the event of a potential bid or agreed sale, however with the additional blocks acquired in Trin, there's huge potential for further increases in P+P

Market cap of TXP? C$25mln

--------------------------------------------------------------------------
Reserve Report Highlights
 Total proved plus probable reserves of 17,831 Mboe (gross) and 13,267 Mboe net after royalties (99.5% oil). Total proved reserves were 10,497 Mboe (gross) and 7,671 Mboe net after royalties (99.6% oil).  Total proved plus probable net present value before tax (10 percent discount rate) of $395 million ($208 million on a total proved basis).  Total proved plus probable net present value after tax (8 percent discount rate) of $191 million ($103 million for the total proved case).  Total proved plus probable future development capital is estimated to be $110 million, an increase of $97 million over 2013 mainly due to the increased development capital associated with Trinidad assets acquired in 2014.  Reserve life index of approximately 17.9 years for proved plus probable reserves.

[lazarus2010] 30/4/2015 19:16

JB, thanks for the link, and here's some research from it...

This is a disposal by Surge Energy, interesting metrics for comparison with TXP's 2100boepd with most in Trin achieving higher prices than Canadian oil



Southeast Saskatchewan and Manitoba Disposition Metrics: •

Purchase price of $430 million (closing June 15th, 2015)
• 8.8x annualized cashflow (based on April strip pricing)
• 4,750 boe/d equating to ~$90,526 per flowing boe
• $18.70/boe (23.0 mmboe of recognized Total Proved plus Probable Reserves)

[lazarus2010] 30/4/2015 15:47

what's going on here then? TDD and advfn showing .295/.345 ?? Not been such a wide spread for a while?