Touchstone Exploration Share Discussion Threads

[davidblack] 04/2/2021 12:02

Cooperative?

[king suarez] 04/2/2021 11:25

Perhaps 'committed' to growth and 'candid/communicative' about results?

[lord gnome] 04/2/2021 10:53

LoL King Suarez. The third word needed to convey growth and development. I just can't resist a good bit of alliteration. I always look at TXP's cuddly stuff because it shows how the company wants to be seen by it's important audiences. I spent most of my working life in PR and marketing, so it's an interest of mine.

[king suarez] 04/2/2021 10:46

"They are building a picture of a company that is competent, caring and developing. (Couldn’t think of a third ‘C’ word so developing will have to do)."

Commendable, conscientious, courageous and captivating? :)

[dunderheed] 04/2/2021 10:45

IMHO can't see anyone selling at this point but perhaps if only to cover initial (low!) purchase prices and have full free carry?
Could be a very interesting few months ahead of us and I have a feeling share price likely to be (potentially significantly) higher at the end of that period!

Best of luck all and as ever IMHO!

[lord gnome] 04/2/2021 10:43

They use Twitter quite a lot as well. I don't see any major increase in activity, just a continuation of a very effective use of the medium for soft, feel-good posts and updates. They are building a picture of a company that is competent, caring and developing. (Couldn't think of a third 'C' word so developing will have to do).

[inthemix] 04/2/2021 10:41

Spangle and MT have you sold over this quiet period you buggars? Haven't seen much from you over last few weeks... Have to say I was tempted a few week ago, just couldn't risk missing anything.

[pro_s2009] 04/2/2021 04:18

Canada was interesting......the middle of the day action tended to suggest they were looking for sellers and finally got some late afternoon.

You dont normally go looking for sells unless you have buys to fill.

[highly geared] 03/2/2021 19:23

Taken from the Casc deep RNS:

The intermediate Gr7bc sands were the Company's primary target originally identified in the offsetting BW-5 well. 308 net feet of hydrocarbon pay was identified in two thrust sheets within the Gr7bc section of the intermediate Herrera sands at measured depths between 7,086 and 8,246 feet. The sands encountered in one of these thrust sheets correlate to the offsetting BW-5 well while the other thrust sheet was not encountered in the offsetting well; neither thrust sheet has been previously tested.

So , with Chinook and Casc deep, we have nearly 1000 feet of net “ new pay” to test...

[highly geared] 03/2/2021 19:12

Zeus, yes , with nothing as such in the price for both finds, and with testing gear hopefully able to fully appraise , any “stellar”; stable flow rates will light a fire under the price.

It will be interesting how the c.600 feet net pay at Chinook equates to flow rate and resource..

[zeusfurla] 03/2/2021 18:29

HG I'm expecting earlier update than end Feb for 1st results and also to be well over £2 (closer to £2.50?) after both sets of results. I'm not usually this optimistic.

[highly geared] 03/2/2021 17:35

With c. 4 weeks to test results on Casc Deep and Chinook, I’d expect the share price to hold firm and possibly crawl up to 175p. If both deliver then north of £2 beckons..

[pro_s2009] 03/2/2021 16:01

Buyers in charge in Canada so far........lets see if the little sells come fighting back or not.

[dunderheed] 03/2/2021 14:22

Oh well worth a try but, thanks for clarifying.

[davidblack] 03/2/2021 13:42

That location is his home province in Canada.

[dunderheed] 03/2/2021 13:04

David - perhaps re takeover - but if not we have to look (quite happily) at this being a dividend play?
I would get listed where it will provide the most CGT uplift if I were PB, regardless of "other issues" if that were the case?
Just my opinion, only my musings and, an irrelevance to the more important issues of (hopefully imminent) test results?

Best of luck all.

[davidblack] 03/2/2021 12:59

I doubt PB a Canadian or the rest of his board bar one are going to worry too much about British tax payer dividend issues as he has to pay those taxes himself.

Anyway your an optimist this will be sold before that date!

Lastly PB on dividends pays circa 55% tax in total if this is sold he will probably end up paying less than 20% plus able to generationally transfer funds into a family trust which means very low taxes in perpetuity.

So I think we might be looking more at a capital gains event as happened on all his other previous companies. But I could be wrong?

[dunderheed] 03/2/2021 12:36

David, two things - it's the divs (man) that will potentially be impacted by being listed in Canada (is it not?)

I don't think the JV partners are in good place to "negotiate" therefore conversely good testing news may prompt them to accept terms more quickly?

IMHO.

[davidblack] 03/2/2021 12:33

Canada is fine as a market. The current issue is that this was an almost exclusively Canadian retail play and some of those are moving on but the big Canadian institutions probably want a bit more certainty which they will get with the new CPR 51-101 report and the current testing. We are just in the bit in between.

[captainfatcat] 03/2/2021 12:27

TXP is increasingly in a position where it no longer required easy access to cash.

Once the market cap moves past say £500M a delisting from Canada and move from Aim to a Main market London listing does potentially seem more likely.

Certainly I would welcome such a move and potential inclusion in the FTSE 250 index.

[davidblack] 03/2/2021 11:34

100m plus liquids should produce $6m a month net pre tax. 200m flagged up for the next year $12m a month with everything already paid for by the legacy oil wells.

So they certainly don’t need the dilution longer term.

A completely left field idea whilst we wait but I wonder if PB is negotiating with the local neighbours on a JV and is happy to have the testing running “Late.”

Any deal would become less attractive terms if TXP start to pump out good news. Ok mad thought, but just maybe?

[zeusfurla] 03/2/2021 11:28

Spawny Fair point on dilution - you can never say never - but not too likely. Although we could also see a debt facility to push forward with development drilling as an option.

[spawny100] 03/2/2021 10:19

Paul did say this before a previous dilution though Pro "It makes no sense to dilute investors through an equity placing," he said. "Not when we already have the cash to complete this work ourselves." And then did a raise so I'm not yet completely convinced. We're very much relying on NGC coming through on time with hooking up Cascadura and Chinook. If Coho is anything to go by then optimism could be misplaced there for getting it done by end 2021?