Touchstone Exploration Share Discussion Threads

[wheniamfree] 26/10/2017 15:25

Very low decline rates, the calibre of the bod on txp is equally as good Baay has done this before and is proven

[mount teide] 26/10/2017 15:24

rossannan - The CEO stated in the presentation/Q&A that the decline rates are "very low", as evidenced by the fact that they have been preserving cash over the last few years in the low POO environment, and so have done little to maintain production, never mind increase it until very recently.

By targeting the deeper areas now with each well, they are seeing more than a 60% increase in the 50bopd historic average production level following stabilisation.

Additionally, the 20 development wells and 24 well workovers planned for 2018 will be entirely self funding, other than in the event of a collapse in the POO.

[mount teide] 26/10/2017 15:05

Peel and Scap are now employing the tactic of briefly raising the bid and then dropping it shortly afterwards without any selling activity, presumably in an attempt to generate some selling activity by artificially creating the impression of a price stall/reversal.

Currently want 17.46p for 20,000 and will give you 16.65p for the same amount.

L2 is 1 v 2 / 16.5p v 17p

TXP up 1.5 cents to $0.28/17.1p in Canada.

[mount teide] 26/10/2017 14:41

I see TXP's valuation disparity against its peers as very much like a property market mis-pricing.

The first thing a estate agent does when you ask what your house is worth is look online to see what similar properties in the street were recently sold for.

Currently, the Trin and Cerp properties on the street are valued at multiples of the similar TXP property - a market anomaly that will inevitably close over time.

[mount teide] 26/10/2017 14:30

kazz - i think its fair to say we're not really demonstrating trading skills here - just buying into extreme undervaluation.

[mount teide] 26/10/2017 14:25

The story here is still in its infancy, accelerating and with many chapters left to run before the valuation gap with its peers is closed.

Additionally, with valuations across the O&G sector in the early stages of recovery after a brutal multi year recession, that peer valuation gap is a moving target that is constantly moving up in TXP's favour - since each small increase in the valuation of Trin and Cerp mean TXP has to see multiples of that percentage valuation increase just to maintain the existing valuation gap, never mind close it!

[kazz] 26/10/2017 14:24

Thanks for the trades info guys.
Recently invested here and had a small top up on the strength of your trading skills on what was on offer etc.
Regards...Kazz

[john henry] 26/10/2017 14:14

MT theres probably only 10k on offer for 17p

[wheniamfree] 26/10/2017 14:14

Don’t part with any, not at this valuation they’ll only be forced to move it up and don’t let them go stop loss hunting.

[mount teide] 26/10/2017 14:13

For 20k they now want 17.3p despite three mms sitting with 30k on the offer at 17p , and will give 16.65p for 20k.

[mount teide] 26/10/2017 14:10

Peel have finally caved in and gone straight to 16.5 on the bid.

[john henry] 26/10/2017 14:06

They seem reluctant to move the bid up also Shrewd

[shrewdmole] 26/10/2017 13:57

Even 10k seems to be asking to call to place order.

[john henry] 26/10/2017 13:49

76k went earlier for 16p i guess they've gone.

[mount teide] 26/10/2017 13:34

shrew - they're probably phoning around for stock as we speak - for some time they've been using stalling tactics on the offer side of the book to keep buying in volume to minimum by artificially creating a massive spread. Not working because of the extreme undervaluation!

[shrewdmole] 26/10/2017 13:34

Still want 16.9p for 20k or 17.47p for 100k.

[shrewdmole] 26/10/2017 13:25

Mt

Virtually all the way up so far I've been quoted above what's on screen for any size.

They really don't seem to have any stock now that placee is out!

Thanks for the updates they speak volumes!

S

[mount teide] 26/10/2017 13:05

L2 - now 3 v 1 / 16p v 16.5p, with all other MM's now 17p and above

[mount teide] 26/10/2017 12:56

MM's very short of stock and still attempting to fool the market otherwise - will currently pay mid price of 16.25p for 100k but want 16.9p for just 20k, despite two mm's sitting on the offer with 20k @16.5p!

[shrewdmole] 26/10/2017 12:24

Full ask for 10k....
More to come here

[shrewdmole] 26/10/2017 11:44

Interesting the online limit commentary.

MM want stock badly apparently.

[che7win] 26/10/2017 11:35

I'm at my limit here, if I hadn't bought what I have, I would be buying up to 30p level.

I think the wider market is slowly catching on here, presentations last week and upcoming conferences (mentioned in last weeks presentation) will help get the message out there.

On oil, I think Saudi Arabia is determined to get global inventories back to 5 year averages, not too many bullish bets, so if one of the big producers falters, there will be a rise. I don't think political events are priced in - upside risk with Iraq, Iran, Nigeria, Venezuela possibly - IMHO.