Touchstone Exploration Share Discussion Threads

[grannyboy] 16/1/2018 08:11

And now there will be two drilling rigs on the go...all the planned 10 w/o's should be completed within six months..

[deeppockets] 16/1/2018 08:10

Solid numbers, steady growth with increasing POO. Now need new drilling to increase production.

[bad gateway] 16/1/2018 08:08

Didn't sound a bad update this a.m. Reached 1500bpd and plans going ahead for drilling as planned.



1 trade, no posts, Is advfn just dead or does london really not know this stock exists?

[brasso3] 15/1/2018 17:22

4 weeks until the Q4 figures (Oct - Dec) are released.

I expect we will see TXPs best quarter in the last 3 years with oil averaging mid $50's (US dollars).

[che7win] 15/1/2018 16:13

Slowly but surely moving up, I expected a faster rise but I'm patient.

[phowdo] 15/1/2018 11:21

If you believe in charting patterns then the inverse head and shoulders could be targeting 16.5p if we break 13.5p.

[che7win] 15/1/2018 10:45

Agreed MT.98k delayed buy now showing.

[mount teide] 15/1/2018 10:16

Ross - Only two other companies in my entire portfolio has a CEO with a higher percentage shareholding.

Why not ask North Energy as my research shows these industry professionals went to T&T to carry out in depth due diligence prior to making their initial 5%+ investment and clearly have no concerns, doubling up at a 40% premium to their original investment.

che7win - sounds like someone trying desperately to make the point that since TRIN'S management hold more stock it is a better value investment.

Like you I'm heavily in both camps but, any objective assessment of the risk/reward would suggest TXP offers the better value of the two over a 12/18 month view.

[che7win] 15/1/2018 08:40

I will say this, listening to the presentations, it's obvious they didn't want to miss those cheap drilling rates.They want to get drilling as soon as possible this year, I expect an announcement about it soon.The market seems to be missing this opportunity IMHO.

[che7win] 15/1/2018 08:36

Ross, Why don't you ask, the investor relations are good here.

[che7win] 15/1/2018 08:27

Ross,
Paul Baay has personally invested 7 figures in TXP, not sure when that was, I.e. may be before the merger 2014, but he is well aligned and wanting the best outcome for all.

You will know that the board did open market purchases of their stock last year, I expect the same this year outside of black outs.

The reason they did the recent fund raising was to capture cheap drilling rates for this year, I have had dialogue with the company on all of this.

[grannyboy] 15/1/2018 08:08

I find cheap warrants and options held by the bod more obnoxious then how many shares they have bought on the open market.

[mount teide] 15/1/2018 00:10

I recently sold out a large long term position in CMS after holding for 7 years - CMS had one Director with 0.2% and the rest owning less than 0.1% combined throughout the entire period i was a shareholder.

The investment result?

Dividend payments totalling more than my original investment combined with circa 450% capital growth - not too shabby a return for a company where all the Directors shareholdings combined were less than mine!

The size of Directors shareholdings make little difference in my experience - what really gets my attention is when all the Directors take incentivised share options in lieu of all their salary for three years as at ARS.

[che7win] 14/1/2018 23:13

I think with Paul Baay having invested a multiple 7 figure sum of his own money in the company, he is well aligned with our interests in having TXP as another successful oil company he has managed.The board bought in the market last year on more than one occasion, I believe their intention is to do so this year outside of black outs.DYOR.

[mount teide] 14/1/2018 22:16

Ross - I am always interested in finding out what people with a long track record of success in the City hold - Andrew Monk is certainly in that category.

Monk created and sold at a big profit the broking firms Oriel Securities and Blue Oar, and merged his latest venture Third Quad Securities into VSA - he specialises in oil and gas and mining sector, and has a track record second to none.

[mount teide] 14/1/2018 20:54

The combined shareholdings of the Chairman and CEO in early 2013 when Brent averaged circa $105 and the TXP share price peaked @ $1.96 were worth more than the entire market cap of the company when it came to AIM in summer 2017!

The waterfall drop in the price of Brent in 2014 from $110 down to circa $36 in 2016 saw the market caps of most juniors that avoided the fate of going under fall around 80% to 95%.

Whatever the view of the level of management shareholding and whether the market believes they should be buying more - i am very grateful the oil price crash threw up an opportunity to buy the same level of shareholding as the TXP CEO at a price one fifteenth of what his were worth in 2013.

Particularly since the crude price crash saw TXP management in common with the rest of the industry unleash a massive push to reduce costs by reconfiguring their own businesses and resetting relationships with suppliers - this has resulted in a huge reduction in operating costs and, the securing of drilling rates for 2018 more than 50% lower than 2014. When the oil price was high TXP like all oil companies were chasing barrels but during the oil price recession of 2014-2016 it has been relentlessly chasing efficiency to survive.

So much so that oil at $70, may well see many companies like TXP more profitable than they were when it was $100 in 2014, such has been the scale of the cost cutting and improved efficiency.

To be able to buy into companies with dramatically improved fundamentals like TXP at the current share price with the oil price rebounding sharply(up nearly 100%) following a brutal four year recession that saw many O&G sector juniors fail, comes along at best once in a decade or so - the risk/reward profile is now exceptional by any comparative standard over the last decade.

Pleased to see its not just my view - Andrew Monk CEO of VSA, the highly rated natural resources sector "city guru" agrees too - in a new year note to his private clients the T&T onshore trio were among his top plays for 2018.


AIMHO/DYOR

[brasso3] 14/1/2018 20:01

Sleveen

Txs. Missed the obvious there!