Touchstone Exploration Share Discussion Threads

[che7win] 17/1/2018 19:14

No it's not.

[che7win] 16/1/2018 19:44

Brasso,
noticed them trades.

This is one of my favourite shares this year, I have high hopes.

[brasso3] 16/1/2018 19:31

2 large trades have showed up from yesterday after the close:-

- 300k at 13.15p (£39.5k)
- 250k at 13.20p (£33k)

I am pretty sure they were both buys as they were some of the highest price trades that went through on the 15th Jan.

[brasso3] 16/1/2018 19:26

Had a little top up at the bell today (26k).

My total holding is now above 200k. I will be looking to increase further on any weakness below 12p.

This is one of those rare companies listed on AIM that won't keep you awake at night.

[che7win] 16/1/2018 19:12

MT,
thanks for your view, I'm a bit puzzled as to the markets reaction.

They are delivering all they have said so far, I have no reason to doubt they will get above 2000 bopd.

The fact that they are doing it quicker with two rigs the market has completely ignored.

[mount teide] 16/1/2018 19:07

Failed to receive a news alert this morning and so did not get to read today's update until late afternoon!

From my research notes, from Nov 2016 though to November 2017 a total of 15 well recompletions were carried out. During this period base production plus production from recompletions fell by 15 bopd (excluding production from the 4 new wells).

Suggesting managements assertion that 24 well recompilations scheduled for 2018 should comfortably offset the worse case field decline rate.

Consequently, the data of particular interest to me in todays update was the latest performance of the 4 wells drilled last spring/summmer, which are all producing from the deeper plays - for which management claimed "proof of concept" had been achieved following three months of stabilised production.

Average production of 74.7 bopd per well was achieved in Sept/Oct, and 73.3 bopd for November/December. Some 6 months after commencing production these wells continue to have a relatively slow decline rate and are producing at a level materially above the best initial stabilised performance achieved from the shallower plays(50 bopd).

This gives me increased confidence in the managements "proof of concept" view for the deeper plays and that the 2018 operations programme (10 wells and up to 24 recompletions) to raise production by circa 700 bopd to 2,200 bopd is both realistic and achievable.

From an investment risk/reward persecutive, the near doubling in the POO to $70 is a real tail wind, as should the POO continue to average close to Opec's preferred range $60 - $70 during 2018 then, the result would be totally £transformational for the company should they get remotely close to the 2,200 bopd target.

[captainfatcat] 16/1/2018 18:17

Nice buying op today to busy with work to take advantage myself unfortunately. Onwards is my guess lots of news and increasing production from the drilling campaign to come over the next few weeks/months ahead.

Tick Tock

[buffythebuffoon] 16/1/2018 15:38

Lol.

Buffy

[brasso3] 16/1/2018 15:37

rossannan16 Jan '18 - 14:47 - 868 of 871 (Filtered)

[buffythebuffoon] 16/1/2018 15:35

Brasso, rossannan, to his credit, posted that earlier!

Buffy

[sleveen] 16/1/2018 15:22

That would have been helpful.

[brasso3] 16/1/2018 15:18

Nevo75 on LSE got this response from PB on the December production:-

To my query abour december production/sales figures below:
Production dipped in December for two reasons. First was the inventory build that was from oil produced in December but not sold in December because the holidays curtailed sales at the end of the month. Second was that all the swab units were shut down over Christmas and New Years which reduced production by 100-150 Bos/d.

[buffythebuffoon] 16/1/2018 14:42

Panic over then rosannan?

I’m backing the man, and unless and until I have concrete evidence there is a problem, I’m happy to hold.

This really does seem like a no brainer. I know we have debt, and the market just doesn’t like that, but the trajectory seems to me to clearly indicate that won’t be a problem at all, and we have a multibagger here. The only question we can’t answer is when it is that PB wants to monetise the assets and go again.

I’m looking at 24-48 months.

I’ve been investing in oil and gas companies for quite some time now, and this is as close to a retail rollout as you get in this business.

TXP is quite surprisingly far under the radar. I’m still accumulating, so happy for it to remain so.

Buffy

[che7win] 16/1/2018 14:25

Sold some TRIN to add here.

[brasso3] 16/1/2018 13:57

David & Monique Newlands crossed the 3% threshold. Looks like this was back in December though. :)

[che7win] 16/1/2018 12:10

Buffy,
yes, pretty good for a £16m market cap, should be double that IMHO.

[buffythebuffoon] 16/1/2018 11:54

Why don’t you leave it there rossannan?

You’ve made your point.

You’re bothered, I’m not.

Actually, have a read of the whole RNS, slowly, as though you were reading it for the first time.

Buffy

[buffythebuffoon] 16/1/2018 11:43

Brasso, our netback for the quarter to September 2017 was US$24.46pb

Looking forward.... on current average production of 1492bpd that gives us a profit of over US$13.3m/£9.7m for the year at that rate.

Our current market cap is under £20m.

Of course, that rate will be history by the end of the summer.

Buffy

[phowdo] 16/1/2018 11:23

They state Nov sales as 1536 and Dec sales as 1337 (for a average of 1436 bbls/day)
They state November and December production average is 1435 bbls/day
They state there are now 2800 bbls extra in storage which is 90 bbls/day for December.

How can production equal sales when inventory builds?

Something doesn't quite add up, hence the statement about ambiguity.

Had they presented the production and sales figures for Oct,Nov and Dec in a table it would have been much clearer.