Touchstone Exploration Share Discussion Threads

[phowdo] 19/12/2017 08:23

Agree, doesn't send a great message so soon after a placing.
Otoh, 11p area does look a good entry price for those who can wait longer than a week.

[dmk1198] 18/12/2017 16:41

Did I miss a placing? Thought 7.25 was last one?

[che7win] 18/12/2017 15:41

To be able buy in cheaper than the institutions is amazing, I'm nibbling at this price too.

[grannyboy] 15/12/2017 19:20

That's because its quiet on the operational side, until they start the workovers, then it will be non stop news!!

[john henry] 15/12/2017 17:15

However cheap TXP stares appear to be, stock still getting dumped and virtually NO buyers.

[che7win] 13/12/2017 18:58

Are you kidding me - if this is what a broker thinks of CERP, then what price should we be at, 100p?http://www.proactiveinvestors.co.uk/companies/news/188739/columbus-energy-tipped-to-rise-significantly-broker-188739.htmlColumbus Energy Resources PLC (LON:CERP) shares have been tipped to rise 380% as the recently relaunched oiler advances its assets in Trinidad.Stockbroker VSA Capital has initiated its coverage of the stock with a ‘buy’ recommendation and set a target price of 26p, versus Wednesday’s opening share price of 5.48p.Analyst Oliver O’Donnell highlighted that since the appointment of new boss Leo Koot and the group’s rebranding (from LGO Energy) the AIM-quoted share has increased by 165%, but, nonetheless, sees the price going much higher still.

[che7win] 13/12/2017 15:21

Ross, Have to agree, the TRIN presentation also makes me more confident of the discrepency

[grannyboy] 13/12/2017 08:37

Yes thanks from me too che7win for all the posts..

[walter walcarpets] 12/12/2017 19:43

Thanks for posting che7win: really like their conservatism (with a small c :-))

[che7win] 12/12/2017 19:18

10% capital budget on exploration, 80% on development.

[che7win] 12/12/2017 19:17

The loan the took was at a difficult time in the market.

The $800k per quarter next year built into their model - but it really very manageable - they as earlier answered will probably look to restructure this.

[che7win] 12/12/2017 19:16

Big energy conference around 22nd January each year in Trinidad - they might take this oppoertunity to make an announcement on royalty - but no one knows.

Tax changes would really put Trinidad on the map - and international oil companies would become very interested - TXP is on the ground and ahead of the game.

[che7win] 12/12/2017 19:13

These 10 wells - generally they come onstream 2 weeks after drilled. If on same pad, sometimes have to wait until 2nd well drilled.

They are cash generating.

The royalty - 100% royalty free 1st year, 50% royalty 2nd year. So great cash flow over 1st 1.5 years.

Idea is to make TXP self funding and free cash flow returned as dividends.

[che7win] 12/12/2017 19:10

They aren't running the business on hope - but on current prices.

[che7win] 12/12/2017 19:09

Oil price - Pauls view a lot of capital put on sidelines through last downturn - so not a lot of new big reserves projects coming on line over next 5 years.

So next 5 years great opp.

Me - no need to post anymore on Pauls view here - this is a personal viewpoint but I agree with what he says on Shale.

[che7win] 12/12/2017 19:07

No hedges, but they are looking at it, they concentrate on low operating costs and a clean balance sheet to lower risk.

They *may* look to lock in some at 50-55 dollars.

[che7win] 12/12/2017 19:05

10 wells - they expect on historic basis 53 bopd - so 500-600 bopd in their model.

But on the last 4 wells, they are averaging ~80 bopd.

Scott takes conservative approach on modelling.

They should get to between 50-80 bopd - so gets above 2000 bopd.

4 of wells are commitment wells, after that they can really move around and pinpoint some interesting locations, some step outs. A lot of opportunities - best they've seen on these next 10 wells.

So ~500 to 800 bopd from next 10 wells.

[che7win] 12/12/2017 18:57

Their fixed costs are about 65%, so they are looking at bringing other assets in, to realise economies of scale - up to 3000-5000 bopd.

They are looking at acquiring other fields - local operatiors/Petrotrin/government opportunites.

Keeping their eyes open - staying onshore.

Exciting deeper exploration opportunities - geophysics being done on this - really exciting.