Touchstone Exploration Share Discussion Threads

[mount teide] 23/7/2018 14:04

What appears to have kick started this move was 100k (2hr late reported) buy at 17.75p

[fardels bear] 23/7/2018 14:03

Stock not stuck or stick you dreadful phone

[fardels bear] 23/7/2018 14:02

Stock not stuck bloody phones

[fardels bear] 23/7/2018 14:02

I was once told that if they knew in advance of really bad news, MMs weren't above raising the offer rather a lot and selling shares they hadn't actually got knowing they'd be able to stick up cheaply later..How true that might be I don't know. ;)

[mount teide] 23/7/2018 13:28

Advfn's charts are well behind the curve:

L2 - 1 v 1 / 18.0p v 18.3p

Continuing to move on modest buying pressure.

The cynic might suggest it seems like the MM's are either in the know or are anticipating an imminent operations and production update.

[someuwin] 23/7/2018 13:00

A case study on #TXP "A year on AIM with all still to play for"...

[mount teide] 23/7/2018 12:55

L2 - 1 v 1 / 17.5p v 18.0p

MM's appear to be short of stock - moving up with modest buying pressure.

[mount teide] 23/7/2018 12:52

Dav - there are clearly many ways to skin a cat!

Bought circa 1% last summer and have added 13 times since up to 16.9p - ALL of these purchases are in profit.

[rafieh] 23/7/2018 12:51

Time to rocket up to 24p.

[fardels bear] 23/7/2018 12:49

Looks like it might indeed break out..

[davr0s] 23/7/2018 12:43

Proper trading has nothing to do with market timing - infact quite the opposite. It cuts all opinion, forecast etc out and aims to make winners to be 2 or more times greater than the size losers by cutting those that break below predetermined exit point. I've traded this share 3 times now and all are in profit (I'm still holding)

[mount teide] 23/7/2018 12:30

FB - 'lack of good timing' - you're in good company - Warren Buffet memorably observed that: "the Market timer's hall of fame has got no one in it!"

Buy value and let good management and the passage of time work its magic!

[fardels bear] 23/7/2018 12:12

Good not hood, bloody phones.

[fardels bear] 23/7/2018 12:11

Speaking as a non-trader (lack of hood timing), I agree and hope you're right.

[mount teide] 23/7/2018 12:01

FB - i'm sure there are many like North Energy who over the last 12 months have not traded any of their holding but actually materially increased it as the investment case strengthened with the oil price, production development programme exceeding expectation by circa 75% and news of the ultra high impact 4 well Ortoire exploration programme due to commence in Jan 2019.

By doing nothing with the bulk of their holding bought at circa 8.5p, North Energy has seen circa 100% paper profit on it in under a year. If only all investments performed so well!

I strongly suspect North Energy and many others will see at least a further similar return generated over the next 12 months - which like last year, is likely to be considerably better than most if not all traders will see from TXP.

[someuwin] 23/7/2018 11:42

Chart suggests we'll be making the next step upwards very soon.

(Also very little stock available online)

[fardels bear] 23/7/2018 11:34

Personally, I think that's all we ever do get.

[awise355] 23/7/2018 11:32

About time we had some trading here.

[mount teide] 23/7/2018 10:32

IEA: World Is Not Spending Enough On Energy - OilPrice.com




'Global energy investment fell by 2 percent in 2017, the third consecutive year of a decline, according to the International Energy Agency, which sounded the alarm this week, warning that the world is not spending enough on energy.

“The overall trend of energy investment remains insufficient for meeting energy security, climate and air quality goals, and is not spurring an acceleration in technologies needed for the clean energy transition,” IEA executive director Fatih Birol said in a statement. Global spending stood at USD$1.8 trillion in 2017, down 2 percent from a year earlier.

Much of the decline occurred in the electricity sector, and the IEA declared 2018 “the year of electricity” to raise awareness about the problem. The ongoing electrification of the global economy puts extra emphasis on the need for more generation capacity. The declining investment in coal, hydro and nuclear power more than offset the increased spending on solar.

Fossil fuel spending edged up but still remains at just two-thirds of 2014 levels. The IEA credits the oil and gas industry with keeping costs in check, and because of “cost discipline by operators and excess capacity in the services industry,” the rise in oil prices since 2016 has not led to a corresponding increase in costs. However, the IEA then pointed out that the U.S. shale sector, which has attracted so much attention and investment, did see cost inflation on the order of 10 percent in 2017. More drilling has put a strain on the supply chain, pushing the cost of everything from sand, to drilling services, to labor and equipment. Another 10 percent increase in costs are slated for 2018.

Globally, upstream oil and gas spending rose by 4 percent to $450 billion, and will edge up another 5 percent this year. Beneath that headline figure, U.S. shale spending will grow by 20 percent while conventional oil and gas spending remains flat. Within the conventional segment, most spending is now focusing on brownfield development, a sign of the industry’s cautious approach to development, while spending on new greenfield projects “is expected to plunge to about one-third [of total upstream investment] in 2018 – the lowest level for several years....................”

[mount teide] 22/7/2018 17:45

cfc - indeed - the impact of a possible Iranian mining campaign in 2012, saw the Multinational Coalition forces take more than two years of intensive mine-countermeasure operations to declare the northern Gulf mine free.

Although mostly Iranian sabre rattling at present, such threats can and do raise tensions in global energy markets and will likely leave global oil consumers exposed to upside pricing risk as the US sanctions on Iran tighten into Trump's November deadline and beyond.

According to US Navy intelligence, Iran has acquired a stockpile of up to 6,000 mines, mostly of Russian and Chinese origin. Including a large quality of Chinese-produced close-tethered rising mines which can be covertly laid by submarines – a “particularly nasty” weapon, according a mine warfare expert - that can be deployed close to the bottom and only later, after it senses a target, rises to near the surface and waits.

“Mine counter measure guys work from the surface down,” he explained, “sweeping and hunting for near-surface mines first to make those waters safe, and then working deeper to close-tethered mines and then bottom mines. The problem with the Chinese/Iranian rising mine is that the MCM units think they have the near surface threat swept, but later the close-tethered mines move up into their firing position in previously swept or cleared waters”.

[captainfatcat] 22/7/2018 14:57

"But even if Iran is on solid ground, it would have a difficult time closing the Straits, which — at its narrowest — has a width of 34 miles. The U.S. naval base in Bahrain is entirely there to keep the Straits open. The possibility of a small war or even a big war is not so far off."

This is a little misleading the width given is 34 miles however the shipping channel which the tankers use is only 2 miles wide inbound and 2 miles wide outbound. Iran easily has the capability of mining the channel causing significant disruption while said mines are cleared imho.

[mount teide] 21/7/2018 09:44

Oil Market News - OilPrice.com

'A top Saudi official said that oil production would remain flat in July compared to June and that Saudi Arabia does not want to oversupply the market. Previous comments suggested that Saudi Arabia would ramp up to 10.8 million barrels per day (mb/d) in July, but instead the Saudis will keep output at 10.5 mb/d.

Goldman Sachs—which has been bullish on oil for most of this year— continues to expect that Brent Crude prices could retest the $80 a barrel threshold this year, but probably only late in 2018, not this summer, as uncertainties mount over the timing and magnitude of global supply disruptions.

“Production disruptions and large supply shifts driven by US political decisions are the drivers of this new fundamental volatility, with demand remaining robust so far,” Goldman Sachs said in a note, adding that Brent Crude is expected to trade in the $70-$80 a barrel range amid this new fundamental volatility.

Two of Venezuela’s four oil upgraders are slated to go offline for maintenance in the next few weeks. The upgraders process heavy oil from the Orinoco Belt into an exportable form of oil, and they have a combined 700,000 bpd of processing capacity. The maintenance for the two upgraders throws up another major obstacle for Venezuela, which saw its total oil production fall to just 1.34 mb/d in June.

US Pure-play shale industry is falling out of favour - In recent years, investors flocked to pure-play shale companies, eschewing integrated oil companies, an old guard that seemed overstretched and out-of-date. Now the reverse is underway.

Wood Mackenzie says that oil companies with a diverse portfolio are trading at a premium relative to pure-play shale drillers. “Both the diversified independents and the majors have overtaken the focused US players for the first time,” WoodMac analysts said in a statement.

The WTI Midland shale oil discount relative to Houston widened to as much as $15 per barrel this week and the odds of it returning to single digits before late 2019 seem to be vanishing. Meanwhile, Plains All American saw its request for an exemption from the Trump administration’;s tariffs on imported steel declined - the rejection could raise the cost of the crucial Permian pipeline project.

US Congress is considering legislation to speed up LNG exports. The US Congress, in an effort to undercut Russian gas in Europe, is looking at legislation to accelerate LNG exports. The bill would also authorize sanctions on Russian energy projects, including the Nord Stream 2 pipeline.'

[lauders] 20/7/2018 02:37

Thank you scottishfield! I should pay attention to your holdings more! I believe you bought into TXP some time ago so obviously have an eye for promising companies ;-)

Being new here I looked around for more TXP related info and found this piece that has probably been referennced here before:

The Company currently holds a 50% non-operated interest in the Icacos Field, via its subsidiary Leni Trinidad Limited ("LTL"). The other joint venture partner is Touchstone Exploration Inc ("Touchstone"), via its subsidiary Primera Oil and Gas Limited ("Primera") who holds a 50% interest and is operator.

As announced on 16 April 2018, the Company and Touchstone have agreed, in principle, for LTL to acquire Primera's 50% interest in the Icacos field.

The Company announces that LTL and Primera have now signed a sale and purchase agreement ("SPA") and, subject to certain regulatory approvals and completion of the transaction, LTL will be the 100% owner of the Icacos field and Operator, with the effective date of the transaction being 1 April 2018.

Another announcement from Columbus Energy Resources PLC is interesting re: M&A activity in Trinidad & information on the fields/O&G industry there.

Meanwhile more discoveries in T&T are encouraging -

[fardels bear] 19/7/2018 22:25

Oh dear, that's blotted your copy book.Secretaries...