Touchstone Exploration Share Discussion Threads

[redartbmud] 16/11/2023 11:27

Yes, but this scenario could go on for years.
As long as they make enough to cover overheads, slowly pay down debt, and have enough left over to drill the odd well here and there.
Every time they drill, they extend the hope factor that they will hit the jackpot.
Invariably the odd one generates the possibility of a major find of oil, or gas, or both, but only ever yields sufficient quantities to lurch on to the next prospect and the "wall of cash" at the end of the rainbow.

Keeping T&T officials happy and paying the board to continue the hard work, whilst funding regular holidays in the sun.

red

[lazarus2010] 16/11/2023 11:15

Not sure where all the negativity from shareholders is coming from?
It's clear there have been mishaps along the way, but we now have Casc on production producing gas and cash. Compressors are now a non issue as they're still able to produce close to maximum output and by the sound of things will reach 60mmscfd pretty soon.
Delaying ramp up to 90mm is a commercial decision to try and force Trin to negotiate a better deal, or they can phk right off!! Can't disagree with that decision.
Fully funded for next round of drilling, have been paying down debt over past year at +$1mln per quarter and likely to be able to pay more down and use funds for drilling.

My only question is when are we going to start seeing dividends as that seems to be the only way we'll get any money back due to ppp of the SP!!

[spawny100] 16/11/2023 11:02

Not sure there are any rampers left after that presentation. Looks likely to be dropping below 50p now. I can't get my head around the greed and arrogance of the board awarding themselves generous options with such a debacle.

[joey1998] 16/11/2023 09:35

5 months? They can’t stick to a 5 week plan!

[chrysalis99] 16/11/2023 09:21

Frankly I can't believe they have the audacity to produce a 5 year plan. Completely worthless document which no-one will take seriously. They have shown themselves incapable of sticking to a 5 MONTH plan.

[spawny100] 16/11/2023 09:20

Agree. It's hardly like shareholders were optimistically making up the expected production figures by plucking numbers from the air; it was clearly the management who were guilty of that.

[chrysalis99] 16/11/2023 09:18

Those expectations were set by the management. They have now backtracked once again on their clearly stated objectives and their reputation is shot. They are completely discredited.

[11_percent] 16/11/2023 09:16

At least he did not throw any "target dates".....lol.


I thank he was talking about Casc C pad Wells being on-stream in the fall of 2023.

At the Denver presentation, a few weeks ago, the CFO said that Casc C pad Wells would be on production 6 months (Nice round number) after the first well spud.

This 5 year plan is going to be interesting.

[valhamos] 16/11/2023 09:15

"Also seems out of touch with shareholders, as we all expected company to get to 90 production quickly from 60."

Well I didn't. I only have 60 in my model and was not expecting any more for a while. It seems some shareholders are setting their expectations too highly - perhaps the triumph of hope over experience?

[redartbmud] 16/11/2023 08:40

Today's share price says it all MINUS 3p

Market doesn't believe a word he said.

red

[che7win] 16/11/2023 08:31

Paul Baay should have spent more time on Q&A and answered EVERY reasonable question until they were exhausted.There were teams if questions to be answered, other companies spend as much time as needed to answer questions.That's my feedback.Also seems out of touch with shareholders, as we all expected company to get to 90 production quickly from 60.The saving grace was the question I asked about what a fair gas price is. In that context, can understand why company want to be incentivized to produce more gas.Trinidad wins if we do, as do we, it's WIN WIN for all so let's see if this can be negotiated quickly and we all benefit.

[redartbmud] 16/11/2023 08:28

Well, well, what can I say.
It has taken 13 years to produce a 5 year plan that isn't complete!

My take was that this share will always be jam tomorrow, maybe, possibly, bunglingly, and garbled.

Look at the facts.
Huge borrowings to pay down - at some point.
Plently of wells to drill - hamfistedly.
Contracts to negotiate - but in a T&T monopoly.
Gas to pump - but not at current contract prices.
Substandard kit that doesn't work.

Disaster written all over it.

red

[holdbucket] 16/11/2023 08:20

DH I see all your comments questioning ability etc and I've personally given PB and the team the benefit but I muttered WTF numerous times through that presentation which was so far away from what I expected. Instead of firming up, it was pulling the rug (down -5.4% on the back of it).
This gas price renegotiation has put all his news on a 'shoogly peg'! How you say it is almost as important as what you say - that seemed evasive, off the cuff with a large dose of poor delivery!!!
Mr Baay you could and should have done much better. Reading questions and then not answering them was tragic. This needs a whole lot of work, it is exetremely important to the Company and us.

[pro_s2009] 16/11/2023 02:16

15th Nov 2023 TXP Investor presentation video



.

[11_percent] 15/11/2023 22:47

Not to worry......5 year plan coming up in about 4 weeks.

However......PB could not say where they would drill next, after the Casc C Wells.

[dunderheed] 15/11/2023 22:22

Chessman2 some of "us" have been saying this for literally years.
I think only the most ardent of supporters (one in particlar over on Discord must be getting tired of continually sticking up for them) lol, still believe in their hero!

What a rambling idiot I must sound? Ahem, I'll get me coat.

[chessman2] 15/11/2023 22:05

This news surely indicates that our leadership is not as good as it should be.

But then I suppose many of us thought that anyway!!

[11_percent] 15/11/2023 21:59

TGM,

Yes they have been paid.

Yes, they got second hand compressors........new ones had too long a lead time.

[the_gold_mine] 15/11/2023 21:30

I was unable to watch the presentation due to having to work. Does anyone have a link?

If not, my first question is, have these guys been paid yet for the Cascadura gas already?

Second query, it seems from the billboard chatter that TXP bought a set of second hand refurbished compressors to "accelerate" (haha) the Cascadura ramp up process, is this right?

[worraps] 15/11/2023 21:03

Well, I’m definitely not doing any cheerleading! Canada has dropped to $0.9 = 53p. No matter how hard I try to stay optimistic about my investment here, it’s becoming seriously hard work! One positive today is that Canaccord Genuity have raised their target to 117p, up from 65p in September.