Touchstone Exploration Share Discussion Threads

[john henry] 15/11/2017 18:54

Email from the company Ross, they have a presentation on the 28th so im guessing it will be delivered before that date.

[john henry] 15/11/2017 18:12

Operations update by the end of the November.

[bad gateway] 15/11/2017 13:55

rossannan your attempt to put words into my mouth is now saved to the hard drive.
Well actually it'll be forgotten as soon as I see something shiney but it sounds good.

[bad gateway] 15/11/2017 12:40

If you get a volume pick up on the break on trin then yes I'd say a sell (or at least time to get a 2nd opinion).
With these I can only say I've had a few after seeing the pattern and it looks oversold enough for me to buy a few more if it ticks down again.
Agree on the current production comment by the way think they've missed a trick there.

[bad gateway] 15/11/2017 11:44

I have it as a descending broadening wedge ross and would be happy to buy in/top up around here on that pattern personally.
Glad you had me take a look actually, I'd just imagined that with trin the sector heavyweight as it were coming off this would too. Might have been wrong there.

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[bad gateway] 15/11/2017 10:51

Nasty topping pattern formed on trin though ross. Wondering if 14 will be the next logical target? Hoping it goes well for you there but personally looking for one more tick down to start the avalanche of profit takers. POO rising again would help of course but there is a lot of profit to be taken on that one.

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[mount teide] 15/11/2017 10:03

ross - what's your view on putting current production in yesterday's RNS?

Oh sorry, seemed to have missed that you've mentioned it in every post you make.

Why do you think the TRIN share price has lost more in percentage terms than TXP since their recent highs? Genuine question - i hold both.

[brasso3] 15/11/2017 07:38

If I were to give an arguments as to why it is currently undervalued then I would say they have yet to demonstrate quarter on quarter increases in production over a longer period of time. The next quarter should show that they are now achieving that.

[brasso3] 15/11/2017 07:36

If we put a reserves value at $5/ barrel then its $75m (£57m) which is 4/5 times higher than the current market cap.

[divmad] 15/11/2017 06:25

Brasso, what should it be then, with those numbers as a floor?

[brasso3] 15/11/2017 03:04

At 1500 BOPD and 15m P2 reserves I do not see how a £14m market cap is 'about tight'.

Its cheap on a production basis and also cheap on the reserves front. Combined its a no brainer.

[brasso3] 14/11/2017 21:21

Anyone invested for the long term would already know that they are at 1500 BOPD at present. The people selling today are obviously short termers gambling on some surprise news in the quarterly update.

[mount teide] 14/11/2017 20:33

At the 121 Oil and Gas Investment London Conference on the 31 October 2017, the CEO stated in his presentation current production of 1500 bopd.



Q2/2017 - Reported Production: 1,334 bopd

The two new wells that commenced production in mid-June 2017 contributed a field estimated 3,350 of incremental Q2 production - 239 bopd of combined production, equivalent to 38 bopd during Q2.

Without the contribution of these two new wells Q2 production would have been 1,296 bopd.

Q3/2017 - Reported production: 1,437 bopd

This is an increase of 141 bopd over the 1,296 bopd Q2 production (without any contribution from the new wells).

Touchstone drilled and completed the fourth well of its initial 2017 drilling program in Q3. Two of the wells were on production for the duration of the quarter, while the remaining two wells commenced production during the quarter. The four wells contributed a combined field estimated 273 bopd of incremental production.

By implication this suggests base production from the other wells, together with production from swabbing activities and recompletions fell by a combined 132 bopd in Q3 compared with Q2.

Widely reported severe flooding across much of the Island during an exceptional rainy season saw the company subsequently report its swabbing operations had been adversely affected, that only three of the six planned recompletions were carried out and, that it had prevented the sale of all produced volumes at quarter-end.

In H1/2017, swabbing activities generated an average of 160 bopd, while the 10 recompilations added a further 100 bopd. This suggests the potential existed for higher than reported Q3 production, if the expected contribution from swabbing and recompilations had not been diminished by the exceptional rainy season weather conditions.


In the 12 months to end of June 2017, reported production increased from 1,276 bopd to 1,297 bopd(after subtracting the contribution from the two new wells drilled in Q2/2017).

During this period recompletions were estimated to have added a further 120 bopd, while production from swabbing activities was largely stable, suggesting that the base production declined by an annual circa 99 bopd/7.7%

Data Source: Touchstone Quarterly Reports & Filings and Latest Presentation.

AIMHO/DYOR

[che7win] 14/11/2017 19:34

Paul Baay, CEO: "With the further increase in operating netback achieved during this quarter, we are in position to continue to strengthen and grow our business." #TXP #Oil&Gas bit.ly/2yZqTi9