Touchstone Exploration Share Discussion Threads

[che7win] 08/12/2017 08:02

Ask your questions Monday:#TXP are holding an online investor presentation and Q&A session for investors on Monday 11th Dec to discuss the announcement of the private placement. Please visit the following link to join:

[grannyboy] 08/12/2017 07:51

Yes looks the reason why the share price has been in a moribund state for a week or so..

Will look to top up if the share price drops to the placement price, but 2018 looking very exciting, and there will be a constant news flow throughout...

[wheniamfree] 08/12/2017 07:44

The Private Placement includes a subscription by North Energy Capital AS, a 5.41 percent shareholder of the Company. Following Admission, North Energy Capital AS will hold 12,879,250 Common Shares, representing 9.99 percent of the enlarged share capital of the Company.

[wheniamfree] 08/12/2017 07:29

Institutional backing, they’ve picked up a bargain here.

Only 6% discount so sets the company up nicely for a big forward looking Work program.

Shame they didn’t raise higher as you said but Company value is stupidly cheap, think the book was covered pretty quickly.

[john henry] 08/12/2017 07:26

Che7win in the 19th October interview Baay said there would be a continual drilling programme starting in 2018 with wells coming on stream every 15 days. 10 drills and 24 recompletions.

[che7win] 08/12/2017 07:21

Drilling program expanded next year, shares placed at 6% discount, I guess this has kept the share price back. I'm disappointed that the share price was not a lot higher before they raised any money.

However, this ties in with their view that current drilling costs are exceptionally low right now.

Next year looking very exciting.

[buffythebuffoon] 07/12/2017 15:19

While there’s a buyer for every seller, it’s the type of buyer that dictates if it moves the market. Market makers do accumulate stock at give away prices to be sold when the price moves. Otherwise there would never be an imbalance in the buys and sells.

Buffy

[mount teide] 07/12/2017 14:04

There is a buyer in the background absorbing any selling - over 330k has hit the 12p bid this week (some 11 fold greater than the total buying volume) without it moving.

[buffythebuffoon] 07/12/2017 13:50

Buy Volume 388
Sell Volume 23,683

Yet the price hasn’t moved...

Buffy

[mount teide] 07/12/2017 13:07

TXP's new MO of using decade low drilling costs and water injection to dramatically ramp up production in a rising oil price environment(POO is up nearly 100% from the lows) is very sound, particularly at the current valuation.

[brasso3] 07/12/2017 12:53

AIM investors chase high impact exploration rather than steady Eddie producers. I like TXP and are happy to play this one out over several years.

[grannyboy] 07/12/2017 11:39

A lot of producing oilers seem to be in the doldrums, for some reason..

[che7win] 06/12/2017 12:02

I have bought more when things are quiet today.

[che7win] 06/12/2017 08:51

He also talked about CO2 pipeline which would pressurise wells? Shared pipeline with other operators.And water flooding which they are watching closely, really like the potential here.He says right now the price to drill wells against return he has only seen twice before - when oil prices had collapsed and were recovering - hence he wants to drill as many wells as possible next year.

[che7win] 06/12/2017 08:48

Thanks.He might raise money at some stage as they expand.He wants to be up at 5000 bopd in a couple of years.He says TXP is valued at 1/3rd the price of TRIN.Plenty if low risk upside here IMHO, I am tempted to add more but I'm overweight here.

[grannyboy] 05/12/2017 23:35

Yes keep the interest going che7win..will keep popping in for a read..

[walter walcarpets] 05/12/2017 22:51

che7win: thanks, you're not talking to yourself! Risk/reward looks very favourable here. Should be a very interesting year.

walt

[che7win] 05/12/2017 21:40

Generating $6m on yearly rate cash flow - will go up dramatically as wells drilled next year.Now $25m net back.$7m cash.

[che7win] 05/12/2017 21:37

200 locations, engineers audited wells.$60 oil, capital goes down, bottom line goes up.In Trinidad, 10,000 wells drilled since 1908, only 1400 currently producing.Deal with Trinidad government - they have new technology to go into those wells and blow holes to recomplete and add ~10 a day to each recompletion - VERY ECONOMIC.$3.5m on recompletions adds $30m to value - 2-3 a month they do.

[che7win] 05/12/2017 21:30

Bid for next 10 wells $800,000 - great opportunity to drill as many as possible when drilling cheap.

[che7win] 05/12/2017 21:28

The last 4 wells they drilled deeper and found oil."In Trinidad, you don't drill a dry hole"

[che7win] 05/12/2017 21:27

2500 bopd is their goal 2018