Touchstone Exploration Share Discussion Threads

[blik] 02/9/2014 21:27

Quite a bit of volume... Tempted to buy some more, the daily drop is frustrating though.

[dosser2] 02/9/2014 16:41

That was a big fall- and recovery!

[dosser2] 29/8/2014 18:07

You shouldnt be checking on shares! Enjoy the wine..

[jamesiebabie] 29/8/2014 17:50

Cheers HP from a very warm Rome.

[hpotter] 29/8/2014 10:15

TXP are involved in a discussion at this conference.

[jamesiebabie] 27/8/2014 21:26

New presentation is due within a couple of weeks.

[dosser2] 27/8/2014 19:44

Moving up this evening.

[jamesiebabie] 27/8/2014 19:22

I will and I won't!

[dosser2] 27/8/2014 19:10

Enjoy your holiday. Dont check on your shares more than 5 times a
day!

[jamesiebabie] 27/8/2014 18:50

New video - seems like a similar background to Brad Nichol over
at
Edge, develop a business and sell it.

'window'>http://vimeo.com/104053403

I will add to the header in a weeks time as I'm on holiday, or just
about to be.

[jamesiebabie] 26/8/2014 22:07

Good volume day.

[dosser2] 25/8/2014 14:34

Market open. Only one share to watch..

[jamesiebabie] 21/8/2014 16:13

It hasn't yet; I suspect we are waiting for more wells to come online. I just need EME sold and I'll have few more of these at these levels. :0)

[dosser2] 21/8/2014 09:54

Looks good. Lets see how it affects the share price

[jamesiebabie] 21/8/2014 09:27

Looks solid and what I was hoping to see.

Financials

With the restructuring of debt one of the main drivers of the old Touchstone and Petrobank merger, we are quite pleased to see Touchstone pay down C$24.3m of 9.25% interest rate long-term debt during the quarter (these were issued in June 2012), as well as related interest. Debt was paid down making use of Petrobank's cash on hand, as well as C$15.2m of net proceeds from the sale of 2.0m Lightstream Resources (LTS.CN) shares in May 2014, with the combined Touchstone continuing to hold 1.5m shares as at 30 June 2014. As a result of all of this, Touchstone is now cash positive, is eliminating interest costs, and is lowering potential dilution from previous convertible debt and warrants, as well as vastly increasing its financial flexibility into 2015.

[los ricos] 21/8/2014 09:08

Research note:

[jamesiebabie] 20/8/2014 22:05

Steady at this level, happy with that.

[jamesiebabie] 15/8/2014 22:49

They had an expensive debt facility, maybe it is worth leveraging based on cheaper borrowing brought about the recent successes?

I suspect TXP are making c.$80k/day in netbacks at this moment in time and then we have the new well and optimization ongoing, so it will be interesting to see how much they want to borrow as they also has over $9M of working capital.

[dosser2] 15/8/2014 20:32

Needs money?? Will it be debt free for long?

[jamesiebabie] 15/8/2014 19:40

blik - thanks for the link.

[blik] 15/8/2014 18:41

Touchstone turns loss into profit but needs money for T&T programme

Touchstone Exploration Inc, a Toronto-listed company which derives more than 60 per cent of its daily production from T&T, yesterday announced a second quarter (Q2) net income of CA$2.75 million. The profit, which works out to CA$0.05 per basic and diluted share (after it merged with Petrobank) contrasts with the loss of CA$3.97 million recorded in Q1 2014, and the loss of CA$4.15 million in Q2 2013.

On May 13, Petrobank Energy and Resources Ltd completed a court-approved statutory plan of arrangement of the acquisition of Touchstone Exploration Inc (Old Touchstone). "Production for the three months ended June 30, 2014 was 1,220 barrels per day (100 per cent oil). Trinidad production contributed 830 barrels per day, as the operations averaged 1,574 barrels per day over the 48 day post acquisition period within the quarter. Canadian production remained consistent on a quarter-over-quarter basis and increased 104 per cent from the comparative 2013 period," Touchstone said.

The company said it has "commenced the 2014 Trinidad drilling programme and participated in drilling four wells" and added that it "generated Trinidad adjusted funds flow from operations of CA$1.74 million or CA$23.08 per barrel in the quarter as adjusted for non-recurring operating costs of CA$1.28 million; and achieved July production of 2,340 average barrels per day of which 1,795 barrels per day was Trinidad based and 545 barrels per day was from Canadian operations." Old Touchstone was engaged in the exploration, development and production of oil in T&T. At the acquisition date, the acquired assets included approximately 1,600 barrels per day of existing oil production from 10,205 working interest acres of developed land and approximately 50,000 working interest acres of undeveloped land in Trinidad.

"The producing assets are characterized by large oil in place, low declines and an extensive inventory of low risk drilling, workover and reactivation opportunities. The integration of the operations allows the company to execute an expanded capital program in Trinidad and positions the company to increase shareholder value through improved netbacks, increased cash flow, and superior capital efficiencies. The company will leverage the application of proven Western Canadian production technologies to the large defined Trinidad resource base," Touchstone said.
Trinidad property and equipment expenditures were CA$7.79 million in Q2 2014. This included CA$5.2 million in drilling and completion costs, mainly for the three wells drilled throughout the quarter. The company also purchased a new service rig for CA$2.1 million.

As at June 30, the Trinidad equipment fleet included four service rigs and one coil tubing unit, Touchstone said. Working capital surplus at the end of Q2 was CA$9.73 million compared to CA$41.98 million in the previous quarter. Working capital decreased as the company paid CA$24.28 million in long-term debt and related interest acquired from the Old Touchstone acquisition. The company also recorded a combined CA$10.99 million in capital expenditures throughout the quarter. "The company continues working toward a new operating credit facility to facilitate its expanded capital programme in Trinidad," the release said. Touchstone expects to have a minimum of two non-operated drilling rigs in service for the remainder of the year. The company is based in Calgary, Canada, and is active in onshore properties located in T&T and western Canada.

[dosser2] 14/8/2014 20:02

Depends how much influence we have

[jamesiebabie] 14/8/2014 19:10

dosser - I have said that as well. :0)

[dosser2] 14/8/2014 18:44

Put them on AIM.

[jamesiebabie] 14/8/2014 18:13

dosser/blik - I understand that a new presentation is due shortly which will show quite a bit more detail. I also understand that other initiatives are about to be put in place to increase the level of communication. :0)

I know I sent them a few ideas a while ago, it will be interesting to see what they do, maybe some BRR broadcasts?

Let's see how we go.