Touchstone Exploration Share Discussion Threads

[kaos3] 06/12/2022 08:48

I am waiting - for all the fans to exhaust themselves

[che7win] 06/12/2022 08:44

Valuation worth 150p on assets, but the company is currently being valued on cash flow prospects.

They will increase production 5 fold from here in 3-6 months, any positive drilling at Royston just adds to the undervaluation.

[ashkv] 06/12/2022 08:38

What is the valuation for TXP if Royston is a duster?

[herman007] 06/12/2022 08:30

There is nothing wrong with a placing, but the timing could not be worse. First deny deny deny, then wait until the share price reaches the bottom, then do a placing…I hope Paul Bay now will put the company’s interests ahead of his own and step aside as he has become a huge liability. He can work behind the scenes but in a different capacity than CEO. I have sold all my other shares, and today-at this share price, I am all in.

[birotop] 06/12/2022 08:30

Great post…and second those comments..

[buffythebuffoon] 06/12/2022 08:26

Bradshaw980,

I have never met MT, but you don’t need to have to know that he is a man of principle.

I have never doubted the veracity of one word he has ever written. Along with Zengas, who is far less prolific in his posting, they are the most valuable contributors to this board, and others.

Frankly, it’s pathetic that you are not wise enough to be your own man, and rely on another poster for your investments, only then to make it worse because you are dismayed by the share price here.

You can take this the right way and learn from your actions. It will benefit you enormously to seriously look at how you do things and react to adversity. I’m not just talking about investing here.

You could alternatively spew out some bile, but the only loser would be you.

I wish you well.

Buffy

[spawny100] 06/12/2022 08:20

Dear oh dear who were the ones here giving anyone a hard time who suggested that funds would be tight before Cascadura with all the delays and they might do another placing?

[swanvesta] 06/12/2022 08:19

Since they are going to sidetrack, what's the latest on Royston EWT? (Sorry, it's been a while since I had much interest.) Also, they repeat Coho October production numbers - don't they have numbers for November? Surely they are monitoring early production closely.

[che7win] 06/12/2022 08:17

I’ve topped up, not that I wanted to, but at this price, will be a 2 bagger in 6 months.

[redartbmud] 06/12/2022 08:05

Looking to the bright side, they will ave sufficient funds to pay off Baay and get a proper CEO.

red

[redartbmud] 06/12/2022 07:56

It was pointed out to me some posts ago that there are three contracting businesses in T&T who "share out the work and set prices, but only work at their own pace". If that is the case Txp will need to ship in labour to keep the work on track. Unless there is a cohesive plan the money will jst be frittered away. I can see their eyes lit up for a 6 month long Christmas party.

red

[davidblack] 06/12/2022 07:45

Too embarrassed.

[spangle93] 06/12/2022 07:41

So we've kicked our heels all year, with soaring oil prices, an idle rig, and a significantly higher share price, so that investment can be managed from cash flow.

Then when boredom has set in, sentiment has fallen and the share price with it, it's now the perfect time to raise money to "accelerate" drilling. Really? If they'd raised at an appropriate time and price, there wouldn't be the need for acceleration.

No wonder they don't do investor evenings any more.

[sharekitchen1974] 06/12/2022 07:30

We will see, don't hold your breath, lets come back in February and have this conversation

[stockport loser] 06/12/2022 07:26

Well not if the placing is at 54p. If it was a larger placing it could drop below but I don't really see it, it's only low 60s as the iis have pushed it down on low volume to get a better price.

[sharekitchen1974] 06/12/2022 07:21

Looks like my 45p target is very possible now Pro

[che7win] 06/12/2022 06:42

I’ve been in contact with the company.

They say that they need to get back to drilling and that they don’t have enough funds to do both cascadura and drilling.

They also say Cascadura is still on schedule for Q 1 even with the record rains in Trinidad but that they “need to start drilling to start developing the resource. “This accelerates the drill by at least six months which is going to be beneficial to all of us. “

They also state that this is “accretive to cash flow per share” and that they had been holding off doin a fund raise until Coho came online as they expected the share price to rise on the back of that but it did the opposite.

“We also don’t want to take on anymore debt to drill. 
Appreciate your comment but I strongly believe this is best for the corporation and the shareholders”

[ashkv] 06/12/2022 03:57

Mount Teide - agreed that this a disaster. I am extremely extremely grateful to TXP as I had an average in the mid teens - and sold along the way.
Added to my remaining holding at 90p earlier in the year and sold it all at 88p as I was wary given all the delays / radio silence etc

TXP might come good - need an update from management. TXP CEO is good at sales and poor at execution... sigh....

[mount teide] 06/12/2022 02:33

On announcement of the Coho Discovery the share price was 75p and, the 175p for the Cascadura Discovery.

3 Years 3 Months after announcing the Coho Nat Gas Discovery and 2 Years 9 Months after announcing the Cascadura Nat Gas Discovery:

PB announces the raising of $7.5m at 54p!

Frankly, the last three years spent 'monetising' the assets has been little short of a disaster. Far from a "Wall of Cash", to be now hit with a raise at 54p to keep the lights on and to get the exploration drill bit spinning again is beyond disappointing, and needs to result in some management accountability.

Selling close to half my holding at an average of 87p over the last four months in frustration at the investment opportunity cost being lost through the management's inability to monetise the assets within a reasonable timeframe, now looks visionary, such has been the shock and disappointment of last night's announcement.

[pro_s2009] 06/12/2022 02:06

Placing price 0.9 CAD in Canada which is 54p in London.

Coho was just too delayed as was Cascadura..... They have to start drilling ASAP and can self fund once Cascadura is online late Q1.

But... They need to drill Royston and legacy and get the third Cascadura well drilled in Q2..... So fund raise now gets it all rolling in Q1 2023.

Cascadura 2 drilled in Q2 means exit H1 23 with 110mmscf per day gas production plus Legacy oil plus Casca liquids plus maybe Royston at 1000bopd......will be throwing off cash then, finally....

Should offer significant returns for those buying the placing shares.... Possible 200% gain in 6 months.

I will be in for as many as I can buy..... Hello again old friend TXP.

[pro_s2009] 06/12/2022 01:55

Excellent news..... As I said cash is a problem and so they need to raise funds for exploration drilling.

I said I would be buying into December tax year end selling and now this fund raise is perfect timing.

Time to fill yer boots at the placing price.

[buffythebuffoon] 06/12/2022 00:47

Crisis management.

Still, it means they can keep paying themselves.

Buffy