Touchstone Exploration Share Discussion Threads

[mount teide] 09/7/2018 17:17

TXP/TRIN - Comparison of Onshore Development and Exploration programmes: 2018-2019:

TXP - will drill 10 production development wells in 2018 and is planning up to a further 20 in 2019, plus 4 Ortoire ultra high impact exploration wells in H1/2019.

TRIN - drilled two production development wells in Q1/2018, and is planning to drill a further 10 wells by the end of 2019.

[2prsimo] 09/7/2018 15:47

It's all about the market cap

[spangle93] 09/7/2018 15:39

Oooh, only a threefold increase needed to break even :-(
It's been a tough few years

[acsatix] 09/7/2018 15:37

guys before everyone thinks this is as shiny as gold: there is a single reason why they joined the AIM, and that is to raise equity... So down the road you have to expect that some placement/rights issue is in the cards like TRIN did...


cleverly TXP has poured Ortoire excitement, as otherwise this would be a copycat of TRIN only with net debt instead of cash in the bank, which we all agree is not going to make anyone so excited.

[brasso3] 09/7/2018 15:10

What a lovely chart.

[deeppockets] 09/7/2018 14:48

If they find as much as they think at Ortoire, Paul B suggested that Shell would almost certainly buy it - if they got a big sum would they do a special dividend as they don't need extra funds to pay for their exploration programme?

[captainfatcat] 09/7/2018 14:34

A sniff of success on TXP's Ortoire exploration programme early next year and this has ten bagger potential.

[che7win] 09/7/2018 14:31

Agreed, 30p is my short term target, but fully expect 50p within 18 months

[rafieh] 09/7/2018 14:27

I meant the very short term target. In 6-18 months, who knows how high the share price could go. Doubling up in one year is not totally out of question.

[mount teide] 09/7/2018 14:14

With a current market cap of circa £22m - TXP would hardly be expensive at 24p (equivalent to a market cap of £31m)

[2prsimo] 09/7/2018 14:13

Yep, clear blue sky now - psychological 20p in quick order and then onwards from there - incredibly cheap when compared to its peers.

[rafieh] 09/7/2018 14:10

Inevitable breakout towards 24p target.

[lord gnome] 09/7/2018 14:09

Added again. Bit the bullet and sold elsewhere. 7th and final purchase this time. Every time I have added I have had to pay more, but I finally have all I want. It can now rise all it likes.

[mount teide] 09/7/2018 14:05

L2 - 2 v 3 / 17.0p v 18.0p

[someuwin] 09/7/2018 14:02

Difficult to buy many.

[mount teide] 09/7/2018 13:26

TXP will become T&T's largest onshore producer when they announce the production performance of wells 4 and 5 of the 2018 programme probably during this month.

With another 5 wells to be drilled over the next 4 months and up to 20 scheduled for 2019 along with 4 low cost ultra high potential exploration wells(2,000+ bopd targets scheduled for drilling in H1/2019) - the onshore production gap between TXP and TRIN is likely to grow significantly over the next 18 months and possibly by a large margin if any of the huge Ortoire gas exploration prospects with up to 2,000ft of potential net pay prove successful - each gas prospect is potentially larger than Shell's adjacent Central Block gas fields which have direct pipeline access to T&T's world class LNG export terminal, where Shell recently became the largest shareholder.

TXP have clearly stolen a march on TRIN who are now playing catch up - a mistake which has cost many of us dearly by resulting in a huge dilution of our TRIN investments at a 45% discount to recent highs - not that it will probably worry the Trin management and their friends, who have benefitted hugely from the placing at our expense.

[mount teide] 09/7/2018 11:28

For the record i modestly reduced my TRIN holding following the rather surprising huge placing at a near 45% discount to the recent highs and have been re-investing it here.

[lord gnome] 09/7/2018 11:25

And me. Added a few, but as usual I prevaricated over selling something else to buy more - and didn't!

[mr. t] 09/7/2018 11:21

Some by me!

[someuwin] 09/7/2018 11:11

Lots of buying today.

[mount teide] 09/7/2018 10:23

L2 strengthening: opened 1 v 1 / 16.0p v 17.0p = now 3 v 1.

[awise355] 09/7/2018 09:22

Txp is coming home

[lord gnome] 09/7/2018 09:00

Indeed MT. The only issue for Shell would be the price.