Touchstone Exploration Share Discussion Threads

[spangle93] 25/7/2024 08:41

Thought this morning there might have been a "TXP notes the recent RNS release by TRIN concerning an offer for the company by another party, and will respond in due course"

I guess it takes time to get the diaries and time zones of the oversized board aligned

[awise355] 25/7/2024 08:22

I I should have sold!

[sleveen] 25/7/2024 08:17

Buy or sell?

[awise355] 25/7/2024 08:05

They would accept a live price for 170,000 shares just now

[dunderheed] 25/7/2024 07:43

Hi k, always interested to hear your opinions.
On phone so excuse typos.
Re Bev - I personally wou;dn't ahve touched her with my mates barge pole after HUR - exhibited totally wrong perception of business and positioning - way out of depth, IMHO.
Hence thought she was "here" because of connections etc - however dont think that came to anything either - so just (yet) another example of an irrelevant over paid board member not needed?!
We need to walk from this (or simply leave offer "as is" and stop wasting anymore effort on it, IMHO) and try and sort out possible unitisation issues now re Casca - but really do we have the team for this - luckily our neighbours probably don't either!
As ever absolutely all IMHO, DYOR.
PS what a (self created) mess, lol!
Just remembered - level 2 anyone?!

[dunderheed] 25/7/2024 07:15

37724/5. 100% agree.
Whilst a good understood acquisition the timing was always wrong as has most of TXP strategy been of course.
Had they just concentrated on Cascz perhaps things would have been (very) different?
Concerned they couldn't even get a position statement out first thing this morning. IMHO.
Again indicates to me management could be considering other options of which there are none IMHO.
This is also probably why Balata has taken "so long", ahem
All IMHO. DYOR. Best of luck all.

[sleveen] 25/7/2024 07:08

I'm for letting the TXP/TRIN offer lapse.

[kaos3] 25/7/2024 06:56

sp93 - thnx

i posted many links not as a separate relevant infos - but to create a vibe....

vibe which i interpreted as ... they are long standing, insider, extremely good connected in industry and local politics, know both companies on personal level and on geology level. and very sharp... just read the court case

eg a very serious bid which txp should not fight

all imho

PS - might also explain keeping txp low share price - to become less wothy currency compared to the cash

[dunderheed] 24/7/2024 22:59

Lol 37714, that would be ironic!
I believe the main KPI actually, though, is some thing probably as taxing as proving they are still breathing?

[spangle93] 24/7/2024 22:52

kaos - Lease Operators Limited are the entity with which TXP announced a swap of assets in January 2023 - you know, the one that would be completed by the end of 2023, that would result in TXP becoming operator of Balata East.

[sleepy] 24/7/2024 21:09

Another performance of sirmarks Carry on Ramping - see the Trinity thread on LSE

[kaos3] 24/7/2024 20:38

brash family very sharp operators

court case

[kaos3] 24/7/2024 20:27

10 th of june

[kaos3] 24/7/2024 20:23

from their page
2012
The “Hercules 152” Jack-up drilling rig was mobilized to Trinidad.

This rig is now known as the “Well Services Rig 152” which completed its drydocking “special survey”, and is preparing to drill for independent producer – Trinity Exploration & Production Ltd.

[kaos3] 24/7/2024 20:20

offerors web page

[awise355] 24/7/2024 19:38

I'm not sure that the government of Trinidad will ratify this late offer..only done a lite search but seems little known about this entity, where's Txp is well known, for better or worse!

[spangle93] 24/7/2024 18:57

I wonder if one of the criteria for the greedy awarding of all the performance share units earlier this month


was getting this TRIN deal over the line?

If so, then it could appear that there's a conflict between personal gain and shareholder value?

[dunderheed] 24/7/2024 18:55

Lol 37712, 100% agree, without wishing to sound condescending / patronising (ahem me, never) to them but, assuming they can get Casca to work in line with previous guidances, TXP can pick up the combined entity (LOL/Trin) later anyway?
Best of luck all and as ever imho.

[spangle93] 24/7/2024 18:29

Yes, dunders, it could be for the best, providing that TXP doesn't chase their bid up.

It wasn't a fantastic bargain anyway, hence the share price response, so if TXP is required to offer millions more, just say in true Eastenders style "leave it mate, e's not werf it"

[dunderheed] 24/7/2024 18:23

Lol abroad at moment and certainly didn't see that coming!!
Doubt it will go through personally and hope CC doesn't get panicked hy increasing offer which would have to go to txp share holders surely?!
Who knows with a master negotiator genius like that though?!
The market (mistakenly imho) didn't like this deal anyway, so actually txp price should get higher if it fails?!
All IMHO and dyor folks, bet the confirmation bias club are posting like excited headless chickens now!
Have to wait for sedar now re volumes?
Best of luck all.

[spangle93] 24/7/2024 18:19

Well, at the very least, it's kicked he condition precedent deadline down the road

"In light of the indicative terms of the Lease Operators Proposal and recognising that the Court Hearing to sanction the Scheme is imminent and scheduled for 31 July 2024, the Board has decided to reschedule the Court Hearing to the next available date, being 23 August 2024 (the "Re-scheduled Court Hearing"), in order to provide additional time for the Lease Operators Proposal to be advanced and evaluated."

[1domus] 24/7/2024 18:17

With the last development, I will guess that the update on Aug. 2nd will be dropped.