Touchstone Exploration Share Discussion Threads

[maxxy1] 18/6/2021 09:23

Look pro it's down again today. Why aren't you ramping?

[sleveen] 18/6/2021 09:19

tb8, I wasn't referring to you :-)

[captainfatcat] 18/6/2021 09:09

If you look back to the trading in Q1 and early Q2 2020 around the time of the Coho drill North was a constant seller both prior to the results and after. There was a similar effect on the share price and frustration here on the BB which prevailed for several months. The market reaction to Covid and the slide in oil prices compounded the effect.

Ultimately there was nothing sinister a foot just a major holder selling to raise cash for other commitments. North later took a slice of the next placing demonstrating continued faith in TXP.

Edit it proved to be a excellent buying opertunity for those with a longer timescales.

[1corpse] 18/6/2021 09:08

Been here to long, keep adding for long term

[thebull8] 18/6/2021 09:07

I've said numerous times I have no intention of trading this share. I'm still 100% up on my position and just added another £15k this morning. My main reason for holding is for Cascadura. It sits right next to another gas field which has produced for the last 20 years. While the delays are beyond frustrating it doesn't change much for me - I am happy to sit here for the next five years for my rewards. I have little need to try and skim 25% profit from here. Too many investors nowadays just interested in instant gratification.

[sleveen] 18/6/2021 09:06

I hope nobody panic sold?

PS well done spawny et al; good trading.

[stockport loser] 18/6/2021 08:53

yep, look at the 1 year chart. with Royston spud coming up its a good buy entry.

[thebull8] 18/6/2021 08:43

Double bottom? Signals the reversal

[linton78] 18/6/2021 08:39

Never fall in love with a share or listen to desperate rampers like Amateur2009.

This is what you get…

[che7win] 18/6/2021 08:28

Well, looks like the shorters have got their exit about right.Give them credit, I wonder if they've flushed out margins holders? Whoever is selling this asset at half the reserves price, they must be distressed.

[sleveen] 18/6/2021 08:13

Following on from my post yesterday an extract from TRINS RNS today:

"Trinidad's energy sector continues to evolve positively and we were supportive of the initial Supplemental Petroleum Tax ("SPT") reform announced earlier this year. As a result, Trinity expects to be exempt from SPT across all of its onshore licences below an average realised price of US$75 per barrel (on a quarterly basis), which will have a significant positive impact on future cash flows."

POO is now down $2 @ under $73, hence TXP will not pay SPT as the realised price will be around $65ish.

[captainfatcat] 18/6/2021 07:36

It's frustrating to watch the SPs continued slide but the seller here will be finished at some point and it will head back up again.

Good things come to those who wait...

Tick tock

[linton78] 18/6/2021 07:19

Enjoy the ride Prozac 🤣

[dunderheed] 18/6/2021 06:50

Cheers 1domus.

[maxxy1] 18/6/2021 06:50

The constant ramping and lies of pro. The FACT is that market sentiments is negative and pro is not to be trusted! Txp is down more than 50% in last 5 months for reasons. Let's see how much more down under this goes. I'll wait to buy it for less than 40p

[1domus] 18/6/2021 05:59

To the worried ones : The company is fully funded to drill Royston, shoot seismic and bring Coho and Casca online... other companies who are struggling for cash make posts daily about little to nothing of material...

[leoneobull] 18/6/2021 05:49

Cut your losses, Pro. Sell your loser , focus on your winners

[pro_s2009] 18/6/2021 01:50

Will be interesting to see if the distressed seller appears again today. Lots of chunks been sold below the bid price this week, as today is the 3rd Friday in June and this week has been rollover week for the margin positions.

Obviously someone forced into selling their long position has been dumping out at whatever price they can get this week which collapses the price down and which has the knock on effect of panic selling by others. When the company already has a short position of nearly 10% of its stock, the aligning of all these events creates extreme volatility and of course, potentially, opportunity.

As now its that 3rd Friday in June I have waited for today and will have a Top Up today, maybe another on Monday.

Enjoy the weekend all !

[davidblack] 17/6/2021 23:00

Retsius the Chairman’s sale was bound to have gone down badly in Canada. Just parasitic behaviour at the worst possible time.

Hopefully that Chairman and his cronies will be politely asked to depart which is what needs to happen to turn this into the company that PB aspires to lead.

Adding a couple of Trinidad senior oil men wouldn’t hurt.

[worraps] 17/6/2021 22:33

King Suarez.....I agree. There seems to be a glut of badly researched stuff doing the rounds these days. It’s all getting a bit surreal, along with Covid and heavy rain, a damaged bridge and Chinook drill, and road construction difficulties, just constantly dampening the story down. It’s supposed not to matter to ‘long term’ holders, but I have to disagree!

[retsius] 17/6/2021 22:10

Thanks guys

[awise355] 17/6/2021 22:09

The share price needs to capitulate before we stabilise and start moving back up. I feel that time is near. A reasonable intra-day swing...this is painful though.

[rabblrouzr] 17/6/2021 22:03

retsius... actual close in Toronto was $1.44 today equates to 84 pence. In the very last seconds , a couple of small Buys moved it up a few teeny pennies . a good thing???