Touchstone Exploration Share Discussion Threads

[mount teide] 11/6/2018 15:08

MPL scammed some of the cream of the UK pensions industry - many are now sitting on more than 99% losses.

Incredibly, some decided to double down at a 95% discount to the IPO price - including the two largest II's despite explaining to them that the company was a scam

Two industry friends and I gave them all of the data and all the findings from our investigation - we spent hours on the phone explaining it all to them - showing them how they did it and how we know - yet these two II's still elected to ignore it and take the advice of two UK NED's without any industry qualifications - only to find that within 6 months of doubling down we were proved totally correct, and to be hit with the revelation of both NED's announcing their departure after collectively banking more than £800,000 into their offshore accounts, their job now done (for the scam artists).

[mount teide] 11/6/2018 14:27

ross - zilch - too expansive for me! As i mentioned back in October - Koots set himself up for a fall by coming in and immediately setting highly optimistic production growth targets based on well worker production data that, unlike TXP had not been allowed to stabilise for three months before reporting to the market.

[grannyboy] 11/6/2018 14:14

CERP in comparison to TXP..TRIN, IS expensive, simply because of the hype in koots.

[zengas] 11/6/2018 14:13

There's no reason to buy Cerp at a m/cap of £32m which had average production of 503 bopd for Q1. Still too far behind TXP in terms of value. To double your money there from 5p - 10p implies a m/cap of £64m.

TXP at last Q had more than 3X the rate of production and field production had risen to 1772 bopd by mid May with a number of wells to come on stream. M/cap £18m @ 14p. To double your money in TXP implies a m/cap of £36m and which is just 10% higher than where CERP is now.

Same oil, same regime - no reason of any kind to persuade me to buy CERP whenever TXP will increase its reserves and has multiple drill ready oil locations to increase production. TXP has approx 1200 bopd surplus production ahead of CERP.

[mount teide] 11/6/2018 13:31

Anyone buying Cerp at 7p would have needed to see a share price of circa 11.25p to match what TXP and TRIN has since achieved.

In valuation and prospects terms, imo CERP at circa 5p today is still probably expensive compared to its two T&T peers.

[mount teide] 11/6/2018 13:11

Not if you believe TXP and TRIN still offer better value and future prospects at today's valuations - have added further to large long term holdings of both recently.

Oil market and company fundamentals over the next 12/24 months for both companies look outstanding and offer excellent prospects of proving transformational for the much slimmed down, low cost survivors, as this highly cyclical sector continues to recover from a brutal recession that brought most of the industry to its knees.

[mount teide] 09/6/2018 14:45

The problem with over-promising is that it always catches up with you if you fail to deliver!

Early October I posted that CERP's valuation was very frothy since it required the new high profile management's production growth forecasts for mid 2018 to be strongly hit and some - and that this forecast was already looking highly optimistic considering the extremely modest progress made to date.

The market has since come round to a similar view - as evidenced by a comparison of the CERP valuation/share-price to Trinidad peers TXP and TRIN.

S/P October 2017 versus June 2018

Trin 14.5p - today 23p (up 59%)
TXP 8.5p - today 14p (up 65%)
CERP 7p - today 4.8p (down 31%)

[phowdo] 06/6/2018 16:55

You can have mine.


















Not for 13.5p though.

[novicetrade68] 06/6/2018 16:48

Towards the end the buy limit was 2,500 shares for 14p. We need sellers.

[sleveen] 06/6/2018 16:27

presentation on 19th of June, so should be an operational update by then, which may throw you a life line.

[basem1] 06/6/2018 10:10

Good to see, I'm underwater here. Nice fundamentals here with supporting chart action.

[sleveen] 06/6/2018 09:47

I tried a fill or kill @14p about 5mins ago which failed. The MM moved the offer up to 14.5pabout 2 mins later.

[awise355] 05/6/2018 09:29

Marking down on low volume

[crooky1967] 04/6/2018 16:11

Mid June probably, need to issue one with an update before the investor presentations 19th/20th June in London.

[rafieh] 04/6/2018 14:05

When are we expecting an RNS?

[mr. t] 01/6/2018 02:56

Bloomberg has a good read on reasons for the divergence of Brent, WTI, and other benchmarks.hTTps://www.bloomberg.com/news/articles/2018-05-31/global-oil-benchmarks-pulled-apart-in-sign-of-market-discordance

[che7win] 31/5/2018 18:12

Thanks Sleveen/MT, That's the answer I was hoping for.