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TXP Touchstone Exploration Inc

50.50
-0.50 (-0.98%)
Last Updated: 08:02:22
Delayed by 15 minutes
Share Name Share Symbol Market Type Share ISIN Share Description
Touchstone Exploration Inc LSE:TXP London Ordinary Share CA89156L1085 COM SHS NPV (DI)
  Price Change % Change Share Price Bid Price Offer Price High Price Low Price Open Price Shares Traded Last Trade
  -0.50 -0.98% 50.50 50.00 51.00 51.00 50.50 51.00 88,285 08:02:22
Industry Sector Turnover Profit EPS - Basic PE Ratio Market Cap
Crude Petroleum & Natural Gs 28.35M -3.2M -0.0136 -63.97 203.77M
Touchstone Exploration Inc is listed in the Crude Petroleum & Natural Gs sector of the London Stock Exchange with ticker TXP. The last closing price for Touchstone Exploration was 51p. Over the last year, Touchstone Exploration shares have traded in a share price range of 40.50p to 94.50p.

Touchstone Exploration currently has 234,212,726 shares in issue. The market capitalisation of Touchstone Exploration is £203.77 million. Touchstone Exploration has a price to earnings ratio (PE ratio) of -63.97.

Touchstone Exploration Share Discussion Threads

Showing 901 to 924 of 39425 messages
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DateSubjectAuthorDiscuss
10/10/2017
18:45
Zengas - good update there. So based on today's values txp should be about 45p compared to cerp and about 52p compared to Trin. Stunning undervaluation here
jungmana
10/10/2017
17:56
Yes Jung. It's a stunning undervaluation. Zengas highlights it perfectly.


Comparative valuation from ZENGAS:

ZENGAS
3 Oct '17 - 12:04 - 880 of 891 5 0
Worth waiting on imo because sooner or later it can't be ignored on pure value level. It's doing exactly as the others in terms of forward plans.

Cerp 5.75p = £32m m/cap.
11.8 mmbo P2. 550 bopd target end 2017 - 900 mid 2018.
-------------------------------------
Trin 15p = £42.5m m/cap.
18.7 mmbo P2. 2,395 bopd with 3,000 bopd target.
-----------------------------------
TXP 8.6p = £8.9m m/cap.
15.68 mmbo P2. 1,500 bopd with 2,000 bopd target.

On a comparable M/Cap to CERP = 31p (yet TXP having 25% greater reserves and nearly 3X production). To Trin = 41p as it closes the production/reserves gap.

lw425
10/10/2017
17:00
LW yes I agree. Too cheap today. Have a look at Zengas's numbers. Comparing with Trin at 15p this should be about 41p.
jungmana
10/10/2017
16:34
Market cap is insanely low here, under 10m.

4 more wells to drilled before end of year and 2 well workovers a month

In 2018, 10 to 20 new wells drilled and 2 well workovers a month.

1591 bopd in August already.

Should be comfortably mid 20's.

i.m.o.

lw425
10/10/2017
14:57
Can't even buy 10000 shares at 9.5p

Can see this hitting mid teens quite easily over the next few days as retail wake up to the extreme undervaluation here compared to it's peers.

Should really be price mid 20's for now then a further rerating as the drilling upside kicks in.

lw425
10/10/2017
14:54
Someone is mopping all the loose stock in 100ks.
jungmana
10/10/2017
13:55
At some stage they will have to let it go. I know what you mean but in last 8 years i made some good money on dual listed stocks. I can see this 2 bagging in the short term.
jungmana
10/10/2017
13:39
I don't like dual listed stocks as much, gives MMs a way out sometimes it seems
che7win
10/10/2017
12:27
Dropping the bid in desperation in the face of buys keep coming in.

Serious trouble for the MMs here me thinks.

che7win
10/10/2017
12:26
The 100k is a buy reported late. Playing catch up. Need 40p to get parity with Trin and about 60p for cerp.Incredible!
jungmana
10/10/2017
12:26
Incredibly cheap here.
someuwin
10/10/2017
12:22
MT, I'm not surprised, it has been virtually all buys this morning, bound to be short of stock.
che7win
10/10/2017
12:19
Scap are desperate for stock - now on the bid at 9.75, but willing to pay 9.84p for just 10k of stock.
mount teide
10/10/2017
12:16
Fantastic performance, a lot of upside here.I wonder how Canada will react to the rise? TPL brings back nightmares to me.
che7win
10/10/2017
12:08
Scap just jumped up to 9.5p from 9p on the bid

L2 now 1 v 1 (9.5p v 9.75p)

mount teide
10/10/2017
11:39
Added by selling out my last lot of CERP. Now this and TRIN are my only oilers. The herd is definitely on the way :-)
jungmana
10/10/2017
11:25
An incredible 2.0m shares traded this morning - mostly at the full offer price:

To put this volume in some perspective, in the ENTIRE month of September 2017 (21 trading days) there were a total of 2.1m shares traded.

L2 currently 3 v 1 (9p v 9.5p)

Looks like the lid is slowly being lifted on one of AIM's best kept and most undervalued secrets.

mount teide
10/10/2017
10:04
I'm sure ZENGAS won't mind if I C&P his post.

If some one can tell me how to add the Canadian share price chart, I'll see what I can do.

sleveen
10/10/2017
09:50
Thanks Sleveen.

Is it possible to include a chart for the Canadian stock listing in the header along with Zengas's last post - if he is agreeable to that?

che7win
10/10/2017
09:49
Just £8m market cap right now. Should be more like 5 times that compared to cerp or even trin imo.The herd will notice the disparity soon
jungmana
10/10/2017
09:39
Thanks Sleveen.


Some analysis on TXP by ValueThe Markets in July 2017 - shortly after it came to AIM:

Touchstone Exploration - positive start on AIM could cause the share price to rerate - ValueTheMarkets:

'Since Touchstone Exploration (LSE:TXP) debuted in London just under a month ago its share price has risen 20%. It now trades at 8.75p on the bid (last seen). Touchstone is an oil and gas company, with onshore operations located in Trinidad and Tobago. In its latest quarterly report the company announced oil production had increased to 1,335 barrels per day (“bopd”). As I recently reported, Touchstone’s £7.3million market cap values the company favourably compared to its direct peers on AIM. This implicit undervaluation is encouraging, but improving fundamentals suggest a re-rate could soon be on the cards.

When Touchstone came to AIM it raised £1.45million at 7.25p. The company’s plan is to increase oil production to 2,000bopd by 2018. Its pitch was it would achieve this through development of its low cost reserves (C$7.35 per barrel of 1P reserves and C$6.00 per barrel of 2P reserves) and lean operating model. One of the attractive aspects of Touchstone’s assets in Trinidad and Tobago is they are forecast to have low decline rates, suggesting both longevity of operations and resilience to the persisting low oil price.

For private investors this almost sounded too good to be true. Compared to a lot of the rubbish in the lower reaches of the oil & gas sector on AIM, here is a company presenting a credible operational plan, trading at a modest price. Better yet and the board has been talking up the prospects of dividend payments!

In the words of CEO Paul Baay, “When we set up Touchstone our goal was to create a dividend paying business. We were on our way there until oil turned south a few years ago. Moving forward this is still our plan, but it will largely be a function of where the oil price is. However there are also operational improvement we can make to ensure the business is run as efficiently as possible, including reducing drilling and operating costs.”

This sounds great, but how much is a cynical market likely to believe this story?

Judging by Touchstone’s news flow over the course of its first month on AIM, it seems likely it won’t take long for it to win over more admirers. The company’s Q2 operational report is certainly promising.

During June, Touchstone brought two wells into production on its Coora Block. Well CO-368 produced 111bopd for its first 26 days of production and Well CO-369 produced 151bopd over its first 17 days. These wells obviously had a positive effect on Touchstone’s overall production rate. In the last quarter this rose to the 1,335bopd already quoted and it rose again in the first 17 days of July to 1,455bopd.

As positive as the contribution from Coora has been, Touchstone’s attention is much more focussed on developments in the WD-4 Block. According to Baay, the company “has had the most success at WD-4, which is its largest and deepest producing block. Having not drilled wells for a couple of years because of the price environment, we completed an extensive review of our assets. As a result of this we now want to look for deeper production horizons, which will bring into play new production and new reserves. This is exciting for the island and a cheap way to conduct exploration.”

As the final part of this summer’s four well drill campaign, Touchstone also drilled two wells at WD-4 (PS-598 and PS-599). These have encountered approximately 637 feet of net oil pay and Baay says, “based on performance of other wells at WD-4 we are expecting the two wells to produce at a sustained rate of 100-150bopd.” When asked why the company had not already released initial flow rates Baay replied, “releasing initial flow rates is not our style. The data is extremely unreliable. Our policy is to wait until we have gained a good idea of stable flow rates, before updating the market.”

Assuming PS-598 and PS-599 meet the lower end of Baay’s expectations, by the end of summer Touchstone could be producing about 1,700bopd. This is not far off the target of hitting 2,000bopd by 2018. Looking to the future Baay commented, “our operational goal is to have one rig continuously drilling on the island. This will bring more wells into production and improve the company’s cash flow generation.”

This suggests the company has plans to drill more wells in the second half of the year, not least because of the importance of generating increased cash flow.

Touchstone is going to need this because one area to be mindful of is its debt. On 23 November 2016, Touchstone received a $15million loan from a Canadian investment firm. The interest rate is 8% and principal payments are due from 01 January 2019. The loan matures on 23 November 2021. Touchstone explains this in more detail in its Q1 report, but Baay believes the main point to take home is “that the company’s debt is manageable. The interest rate is reasonable considering market conditions and Touchstone has built into its plan the provision to start making principal repayments in 18 months time, from internally generated cash flow.”

Touchstone’s reported financial performance in the first quarter of the year supports Baay’s belief. Although Touchstone lost C$1.1million, this was down from C$3million the year before. However, Touchstone’s operating profit during the period (including general and administrative expenses) was C$1.3million. Assuming increased production has not led to a significant increase in operational expenditure, this bodes well for Touchstone’s next set of reported figures. These are due out on 11 August.

If Touchstone can demonstrate continued financial improvement as we move further into 2017, expect the market to sit up and take note. The £7.3million market cap could start to look cheap, as investors buy into the business’ potential.'

mount teide
10/10/2017
09:36
Sleeven thanks for the new thread. Hope that gets more interested here
jungmana
10/10/2017
09:34
Some good buys being reported late there
jungmana
10/10/2017
09:31
New thread with charts in p and news etc
sleveen
Chat Pages: Latest  41  40  39  38  37  36  35  34  33  32  31  30  Older

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