Touchstone Exploration Share Discussion Threads

[mount teide] 14/11/2017 14:46

Beware of nickel and dime traders talking their own short term book!

Brent averaged circa $53 in Q3 and is currently averaging some 15% higher at circa $60 and rising daily to date in Q4.

The double whammy effect of the current POO and rising production will be having a highly material effect on cash flows in Q4, and beyond, should the current POO be maintained, never mind strengthen.

[mount teide] 14/11/2017 13:20

Venezuela has defaulted on its $60 billion debt after failing to make payments due on bonds, ratings agency Standard & Poor's has declared.

Standard & Poors this morning downgraded Venezuela's sovereign debt grade to "selective default".

It means Caracas skipped a specific bond payment but remains committed to paying off its international debts.

And in a further blow to Jeremy Corby's favourite socialist Nation, S&P said of President Nicolas Maduro's hugely debt-ridden government: "There is a one-in-two chance that Venezuela could default again within the next three months."

The ratings agency said the nation failed to make $200 million in coupon payments within the allowed 30-day grace period for bonds due 2019 and 2024.

Venezuelan 2027 bonds are currently trading at 26 cents on the dollar! S&P said Venezuela could well miss another payment on its outstanding debt obligations or advance a distressed debt exchange operation, equivalent to default, within the next three months.

[zengas] 14/11/2017 12:18

Regardless of the Middle East effect on oil prices, the possibility of a Venezuelan default is very great. Production at a 29 year low. Some Analysts opinion that a default could put oil prices to $100/b.

[che7win] 14/11/2017 11:41

I'm not wishing for it, but the political risk isn't priced in.

[poombear] 14/11/2017 11:40

Not sure wishing for war is a good thing, the world is unstable enough already.

[che7win] 14/11/2017 11:18

This scenario is what I'm waiting for:

[brasso3] 14/11/2017 11:08

Everyone piling into MYN with 22 BOPD and mkt cap of £6m
Everyone ignoring TXP with 1400 BOPD and £13m mkt cap

Welcome to AIM. :)

[sleveen] 14/11/2017 10:19

There doesn’t seem to have been an update on current production for a while now - why was this opportunity missed?

Agreed, it had me wondering too.

[john henry] 14/11/2017 08:07

Its a shame they didnt release an operational update that P Baay said would be released with the 3rd Quarter results.

[john henry] 14/11/2017 08:04

Apologies just re-watched the recent Q&A.

[wheniamfree] 14/11/2017 07:50

John that has never been the case and was even stated on interview, maybe brush up on your research. The results were expected to issue an update on when the campaign would begin, well there it is. Next month and a great set of results!

[john henry] 14/11/2017 07:39

I thought the 4 well program to take the production closer to 2000 Barrels p/Day had started ? well thats the impression i got from the interview.

[brasso3] 14/11/2017 07:15

With revenue increasing in Q4 and reducing netbacks its a solid little investment at present.

[deeppockets] 14/11/2017 07:10

Solid results!

[brasso3] 13/11/2017 15:49

Red across most AIM O & G stocks today.

[john henry] 13/11/2017 15:23

Not trading this Mount, top sliced 15-15.5p

[che7win] 13/11/2017 15:22

Oil up again.

[mount teide] 13/11/2017 15:19

John - you're demonstrating behaviour more typical of a short term trader who has sold down a position in an undervalued company after a decent rise and is hoping to buy back in at a lower lower level.

A risky and often hugely expensive strategy in a highly undervalued company, as many short term traders have found to their cost at ARS over the last year - Declaration: I have a long term 3m ARS position and have not sold any - whereas, anyone using a 20% trailing stop loss, would have been stopped out at least half a dozen times this year, instead of like many LTH's sitting on a multi bagger with plenty more upside to come.

[che7win] 13/11/2017 14:43

John, Don't let truth get in the way of your posts - a poor reception of TRIN results indeed.I guess that's why there are so many buys today.

[john henry] 13/11/2017 14:16

nametrade we are seeing a lot more selling than buying. Supply and demand ???

[nametrade] 13/11/2017 14:07

john henry,

We are not exactly seeing a big volume here to substantiate this drop?

[john henry] 13/11/2017 14:00

Imho the selling today is down to the poor reception given by the market to the TRIN update and most likely the same reception will be given to TXP. Chart also turning over.

[che7win] 13/11/2017 10:26

See post 420