Touchstone Exploration Share Discussion Threads

[jamesiebabie] 09/12/2014 15:44

Strange how my buys never appear as one, they seem to make them up with loads of 500 trades.

[jamesiebabie] 09/12/2014 15:43

A COUPLE OF DECENT BUYS SO FAR.

[lazarus2010] 09/12/2014 11:05

People use the expression 'trying to catch a falling knife' to describe the problem of buying a stock on the way down. It's very risky and you could lose some fingers. Now try catching falling oil...if it's still in the barrel and is falling from a great height it will probably flatten you completely. If it's been released from the barrel then it's gonna be very messy!

Anybody buying oil stocks at the moment without knowing where the PoO will be is doing one of the above. I don't disagree that they should be good investments in the long run, as one analyst on Bloomberg was saying yesterday, they're now buying energy stocks for the 2 year term and aren't worried about buying now and seeing their prices fall over the next few months. Personally I would love to be in a position to be buying a shed load of TXP at these prices. I listened at least twice to the presentation and looked in detail at all the slides, however I'm keeping any spare cash on the sideline for now until I see what Opec do to stop the slide in the PoO before entering the market.

As I type Brent is up a bit at $66.39 but that's just speculation rather than any change in oil supply.

aimvho dyor and tread, sorry trade carefully

[jamesiebabie] 08/12/2014 22:02

blik/dosser - know of half a dozen oilers doing well in the last few weeks? With the PoO taking a hammering what do you think would happen in the short term?

[carpadium] 08/12/2014 20:55

Practically halved in the 19 days I've held, but then not much worse to several other oilers. A good recovery stock, just can't put a date on it!

[blik] 08/12/2014 20:48

What an absolute dog, regret getting into this.

[jamesiebabie] 08/12/2014 20:24

In for a few more at 34c. Let me see where we are in a few years time.

[jamesiebabie] 08/12/2014 16:36

I'm in for a few more at 38c.

[carpadium] 05/12/2014 20:35

Great presentation, stacks of facts, thanks Jamesie for posting that.

Good to hear they've got 2015 fully mapped out, at some stage soon value has to be recognised here surely.

Loved the reference to Trinidad ops success, 'like shooting buffaloes in a barrel'!

[jamesiebabie] 05/12/2014 16:43

I've added the recent webcast to the header, it really is a good presentation when you hear what they hope to do in Canada; drill the Viking and I suspect sell it to fund the operations either in Canada or T&T.

[jamesiebabie] 05/12/2014 10:04

Looks like a good result, although the interest rate is unknown as there is an 'applicable margin'. What I like, I think is the fact that the lending is purely based on the T&T assets, so nothing in for Canada.

I also suspect that TXP will have commissioned a CPR as they have to under the TSX rules, which would hopefully allow for the release of some more of the facility. TXP will have converted quite a bit into the P1 and P2 reserve categories through the recent drilling and depending upon where they have been drilling maybe bring some new P3 into play.

Lots to play for.

[blik] 04/12/2014 16:36

December 04, 2014 07:00 ET
Touchstone Enters Into Credit Facility

CALGARY, ALBERTA--(Marketwired - Dec. 4, 2014) - Touchstone Exploration Inc. ("Touchstone" or the "Company") (TSX:TXP) announces that two of its indirect wholly-owned Trinidad subsidiaries, Touchstone Exploration (Trinidad) Ltd. and Primera Oil and Gas Limited (the "Borrowers"), have entered into an agreement with The Bank of Nova Scotia, as Administrative Agent, Collateral Agent and initial Lender, for a $50 million USD denominated credit facility maturing on December 2, 2017. Scotiabank Trinidad and Tobago Limited acted as Sole Lead Arranger.

Up to $15 million USD will be available immediately, with the remaining balance available following the periodic redetermination of the borrowing base calculated by the value assigned to the net proved reserves attributable to Touchstone's onshore properties located in the Republic of Trinidad and Tobago. The proceeds borrowed under the credit facility will be used by the Borrowers for the exploration, development, production and sale of petroleum of those properties and for general corporate purposes.

The credit facility will bear interest at a rate equal to an adjusted LIBO rate or the lender's base rate, as defined, plus an applicable margin. The Company and its material subsidiaries other than the Borrowers have guaranteed the obligations of the Borrowers related to the credit facility. The credit facility is principally secured by a pledge of the Touchstone's equity interests in its material subsidiaries, together with their respective assets.

The credit facility agreement contains certain restrictive covenants which include, but are not limited to, limitations on: indebtedness; restricted payments; mergers and consolidations; repayment of debt; investments, loans and advances; sales of assets and subsidiary equity; hedge terminations; amendments to organizational documents adverse to lenders or material debt agreements; affiliate transactions; liens; restrictions on dividends and distributions by restricted subsidiaries; and change in business and negative pledge agreements. The credit facility agreement also includes certain financial and production covenants, which require the maintenance of a minimum net debt to earnings (before interest, taxes, depreciation, depletion, amortization, other non-cash items and exploration costs) ratio, a maximum interest coverage ratio and minimum monthly production. In addition, the credit facility agreement contains customary events of default and provides for mandatory prepayments in certain circumstances.

Scott Budau, Chief Financial Officer, said "the Trinidad based credit facility provides us the financial flexibility to build upon our successful 2014 Trinidad drilling program into 2015."

[blik] 03/12/2014 16:10

Shame we don't see directors buying at these prices.

[dosser2] 02/12/2014 17:12

The most obvious bounce ever. Did anyone get in at .34?

[carpadium] 02/12/2014 07:55

Something went haywire yesterday, showing at 19p towards close but couldn't get a buy through.

[jamesiebabie] 01/12/2014 21:34

That spread is bonkers!!

[jamesiebabie] 28/11/2014 19:22

I think you are right, nearly all oilers have been hit very badly; TXP must be one of the safer bets as they have no debt and good production.

[dosser2] 28/11/2014 19:20

I assume we are down on the price of oil and not on the prospects we have here?

[carpadium] 23/11/2014 19:27

Thanks Jb, I too see TXP as a good long term, tucked away to mature within my SIPP. Shall add on dips.

[jamesiebabie] 23/11/2014 17:35

PS - you will have been getting a good price, imho. Well done.

[jamesiebabie] 23/11/2014 17:34

I think the recent webcast will be the first of a series; I like the phrase 'execute, execute, execute'; I had read that phrase recently but didn't see it appearing in the presentation.