Touchstone Exploration Share Discussion Threads

[john henry] 02/11/2017 08:05

well VRS was the winner, TXP and VRS at 12-13p had both been moving up in tandem

[sleveen] 01/11/2017 17:12

Given that TXP has bagged in 2 weeks, a spell of consolidation is probably warranted.

IMHO.

[che7win] 01/11/2017 08:27

Oil up another 50cents today.

[mount teide] 31/10/2017 20:05

O&G sector rising tide strengthens!

BP is the latest oil major to report a very healthy set of results for Q3/2017, signaling that the sector is making good progress in adjusting to lower oil prices. Profits at many of the world's biggest energy companies are now soaring, helped by a stronger crude market and stringent spending cuts.

Last week, Exxon Mobil Corp and Chevron both reported huge increases in third quarter profits, up over 50% compared with the prior year. French oil major Total SA saw its earnings jump 40%. Royal Dutch Shell PLC reports later this week.

The strong set of earnings plays into a run up in international oil prices to more than $60 a barrel, the highest level since early 2015. This has lifted BP's share price to a seven year high.

[mount teide] 31/10/2017 19:35

TSX - TXP 28c/16.5p

Brent now up to $61.3 - as i understand the CEO, above $50 Brent the 2018 programme of 20 well drillings and 24 well work-overs is self funding.

Currently, for every $10 rise above $50 Brent, TXP is generating an additional $5.5m of annual revenue/cash flow(less taxes) at 1,500 bopd, which would rise to $7.3m at 2,000 bopd.

At $61 Brent, TXP at 1,500 bopd is probably generating a ridiculously high percentage of the current market cap in positive cash flow.

[che7win] 30/10/2017 11:49

That 100k trade is a buy, MMs must be either well short of stock now or supply coming from somewhere IMHO.

[che7win] 30/10/2017 10:48

Couldn't resist a few more.

[che7win] 30/10/2017 10:13

John, Yes, it's a pity, TRIN new broker initiation, TP 33p from Whitman Howard.I own both heavily, would think that if TRIN rises, TXP should rise faster.

[deeppockets] 30/10/2017 10:12

Think there's a lot in both too! As they aren't too dissimilar (before I'm criticised I know there are some key differences) in size and both Trinidad based they may rise in tandem!

[john henry] 30/10/2017 10:06

IMO i think theres a few flippers trading between TXP and TRIN.

[mount teide] 30/10/2017 09:00

At the current POO, on 1500 bopd, TXP will be generating $6m more revenue per annum and probably a very high percentage of that in additional cash flow, than earlier in the year, where the POO was averaging $50

Current market cap of $16m makes little sense.

[mount teide] 30/10/2017 08:51

Brent continuing to build on last weeks strong performance - up to $60.8

[wheniamfree] 29/10/2017 22:40

That should make TXP a stand out buy given that both TRIN and CERP are presenting later.

[che7win] 29/10/2017 20:59

Paul Baay presenting tomorrow at 10:40:

[mount teide] 29/10/2017 20:38

shrewd - Indeed,

Trinidad & Tobago 2018 Budget - Ernst & Young's Energy Sector Budget Review makes interesting reading:

'The Government must facilitate efforts to boost production of hydrocarbons particularly given the fact that downstream demand remains robust and currently exceeds supply (both in the domestic and export natural gas sectors and oil re nery business).....

.....As we have commented previously, there continues to be diametrically opposing views to as whether the tax incentives granted by the last administration were too generous. Such incentives included the immediate write-off of 100% of the capital allowance on exploration activity and accelerated claims of capital allowances on capital expenditure associated with development and production activity.......

......It is imperative, however, that the Government moves quickly to conclude negotiations and execute the necessary fiscal reforms, as the incremental supply that is achieved in the short-term would need to be supplemented to meet medium term demand.

In addition, the enhancement of crude oil production, which currently stands at 73,500 barrels per day to meet refinery demand, must also be high on the agenda of this Government.'

[shrewdmole] 29/10/2017 09:50

Mt

You forgot to mention the upcoming tax reforms as another positive here.

S

[wheniamfree] 28/10/2017 16:20

Given that the current flows are adequate to service the debt when it falls due (as per the webinar which you have clearly yet to watch ross) that means anything on top is likely to be a bonus.

In regards your decline rates, look at the historic figures of the wells and their longevity even if the deeper zones fall off quickly as you seem to be hung up about the upper zones are proven, as such a recompletion will put the well back on long term and the company will review going forward.

Keep trying

[mount teide] 28/10/2017 09:10

Energy Sector - the new rising tide?

Even the Wall Street investment banks are now joining the party! First Goldman Sachs now Morgan Stanley:

Morgan Stanley: Oil Stocks Are Very Interesting Now

'The oil industry is a pretty interesting sector now as it has lagged year to date, it’s under-owned, and has much better value historically, Andrew Sheets, chief cross asset strategist at Morgan Stanley, told CNBC on Friday, joining the growing chorus of other analysts who have recently turned bullish on European and U.S. oil stocks.

The oil sector has lagged the move in oil prices which have been creeping higher and now sit higher than a year ago, Sheets said.

The industry is also interesting because now it is in a very different part of the cycle compared to the very aggressive capital spending when oil prices were $100 per barrel. Now spending is being rolled back and efficiencies have been found, according to Morgan Stanley’s strategist.

Morgan Stanley upgraded the oil sector in Europe to “overweight221; a couple of weeks ago, and the bank is also “overweight221; on the sector in the U.S., Sheets noted.

“We do think it’s a very interesting sector that is both under-owned and historically much better valued than a lot of other sectors,” the strategist told CNBC.

There is a kind of difficult window for oil prices in the first quarter next year, when new projects and supply is due to come to the market, but demand growth this year has been “incredibly strong.” Morgan Stanley’s current assumption is that the strength in global demand will be enough to offset some of the supply coming online and ultimately, lend some kind of support to oil prices, Sheets said.

Morgan Stanley is joining Goldman Sachs in its view on oil stocks. Earlier this month, Goldman said that shares in oil companies had underperformed the recent oil price rally, so some of those stocks were set to rise in a long-term oil price of $50-55. Goldman Sachs has also recently turned bullish on European majors and on Big Oil’s competitive positioning.

As early as in August, analysts were saying that the oil sector globally is an attractive play for investors right now, with “great value in supermajor oil companies.” '

[bad gateway] 28/10/2017 08:51

Well whoever it is roseanne I hope they do a better job than you.
I had to sell a few of these friday and thought what with them being overbought and you multiposting negativity I'd have a fair chance of getting in cheaper and what do I get?
Back to flat eod with you dribbling on about imaginary high decline rates and $60 oil!!
Not happy rose not happy at all and must do better will be going on your report card this week.

[che7win] 27/10/2017 21:02

MT,
I like your last post, some wee gems in there for me to research - I have had a look at a couple of those.

Brent above $60, no-one predicted that - straight to bottom line - oil looks undervalued to me, the place to be.

[lptuf93] 27/10/2017 20:45

Rossannan please please please watch the video so you can stop wasting your own (and our!!!) time. He clearly says the loan isn't an issue until 2019 when it needs to be serviced, with a portion of money already set aside to help cover it.

If you are deramping, your argument is falling apart. Complete shambles.