Touchstone Exploration Share Discussion Threads

[che7win] 14/11/2018 14:35

Brent up 2%.

[crooky1967] 14/11/2018 13:01

Thanks PP, I am in RRE also, so don't need any more oilers at present but will take a look.

[che7win] 14/11/2018 13:00

I wouldn't touch Argentina, high inflation and history of borrowing from the IMF, hard to repatriate funds from.Better to stay in a stable country.

[piperpeter] 14/11/2018 12:49

Take a look at what's going on at PPC, crooky. Over US$$40 per barrel net backs on the vast majority of its oil.

Imminently to acquire another oil field and a shut-in gas field, plus the associated pipeline infrastructure.

Major growth story in the making.

EBITDA running at over US$2 million per month (excluding the new well announced yesterday).

PPC

Pp.

[crooky1967] 14/11/2018 12:39

With POO falling and natural gas going mental, maybe we should start drilling in Ortoire next week

[on target] 14/11/2018 11:23

Sharp drops are not that uncommon, so it could continue on for a bit more:

[ileeman] 14/11/2018 11:14

Taken another 100k this morning, happy with that.

Great news this morning and either you believe oil is going to correct very hard north after this drop or you dont. Odds are it does.

[piperpeter] 14/11/2018 11:05

Thanks.

So net backs are only about US$28 per barrel?

Pp.

[awise355] 14/11/2018 11:02

Hi Che7win - which news outlet posted that? Cheers Andy

[piperpeter] 14/11/2018 10:55

The operating net back sum of $37.13 per barrel for the Q3 oil produced...is this US or Canadian Dollars?

Pp.

[che7win] 14/11/2018 10:25

OPEC and its partners are discussing a proposal to cut oil output by up to 1.4 million bpd for 2019 to avert an oversupply that would weaken prices.

[che7win] 14/11/2018 09:59

Oil up 113 cents, coordinated cut by OPEC coming.So Trump says zero exports from Iran, twists OPEC and Russia to pump more.Then backs down in Iran sanctions.And then has the brass neck to tell OPEC not to reverse the requested extra barrels he wanted from them.I think next time OPEC will ignore Trumps rants, his tweets and word are not worth believing.Interest rates rising in US, fracking on the most part not profitable, yet IEA yesterday said US fracking increases the size of Russian output needed over the next 7 years. Big oil not investing in big investments needed, shortages will result.

[king suarez] 14/11/2018 09:48

Can't buy anything - keeps going to negotiated order :(

[captainfatcat] 14/11/2018 09:37

Another 32392 @ 15.4 for me

Oil bouncing back

8-)

[sleveen] 14/11/2018 09:32

Over the past 10 years as winter kicks in, the demand for oil falls in Q1 of the new year.

So SA reducing production by 500k bopd isn't going to help to a great extent, or at least to the extent that some think.

[celeritas] 14/11/2018 09:11

Yep agree, oil is very oversold now. All the oilers have had it hard lately.

[ileeman] 14/11/2018 08:59

Added 25k at 15p.

Fundamentals look great, if you believe oil price has been oversold, and it is btw it is the most oversold on indicators in history, then you can bet this is a great price to buy.

[wanobi] 14/11/2018 08:28

Bought more today also ? cheers Wan

[ileeman] 14/11/2018 08:17

That is if you believe oil stays this low after a vertical drop of 20-30% odds are it doesnt. Market mechanics it heads higher soon enough + increase that with more barrels online.

"We spud the ninth well of our 2018 drilling program on November 1, 2018, and we expect the well to reach total depth within the next two days. The well is located on our WD-8 property and will be followed by the drilling of two additional wells in WD-8 from a common surface location. The Company has contracted a second third party rig to drill an additional WD-4 location, with spudding expected by the end of the month. Touchstone anticipates that the four wells will be drilled and completed by the end of the year."

[sleveen] 14/11/2018 08:13

Doesn't help presenting in CD$ rather than US$ grr.

The CD15m loan is the elephant in the room.

The cash generated by ops CD$37/bl is being used to fund the drilling and RCP campaign.

Will there be enough cash to pay this off in due course AND drill Ortoire?

At the current POO probably not without a placing IMV.

[zho] 14/11/2018 08:10

2Prismo, I think the market is responding to the overnight slump in the POO