Touchstone Exploration Share Discussion Threads

[captainfatcat] 31/8/2021 16:25

Small independents very rarely grow into midcaps anything with good assets gets gobbled up and it's pretty much always at a significant discount to what folk on bulletin boards are anticipating. That for the most part is just the way the sector works.

Mr Baay has made many comments in his interviews a number of which have turned out to be inaccurate.

[davidblack] 31/8/2021 12:20

Also the T&T government are probably very happy that TXP are a nice “Gold Standard” in terms of commitment delivery. They can use that to kick everyone else but that won’t happen if it’s bought by a bigger player.

Independence Day in Trinidad today so the drill might be turning but it’s probably somewhat slow!

[eyeore2] 31/8/2021 12:07

Paul Baay addressed the risk TXP being bought out early back in October. The Q&A is at 35' -

Paul comments:

a) Too early in the project for a bid and though huge for TXP, far less significant for a Shell/BP

b) Where assets are up for sale, no-one is going to steal TXP - there are simply too many players in the local market

re (a), as majors like to buy 'proven' assets, even Royston (if successful) only completes the first phase of exploration.

[captainfatcat] 31/8/2021 10:53

Ballymoss it's something that's crossed my mind and certainly is a possibility that can't be ruled out £10-20 mill spent controling the share price now could potentially save a few £100s of millions longer-term.

[ballymoss18] 31/8/2021 09:59

Could the short be to keep the price down and if Royston comes in a cheeky quick bid at a low price around the 150 area.Royston fails then close the short for profit.

[davidblack] 31/8/2021 09:56

A win on WD4 ahead of Royston would be a nice way to kick of the process.

Coho progress of course wouldn’t hurt!

[lauders] 31/8/2021 09:49

At present it seems they are holding the shorts to the very last minute. If good news arrives that means we MAY have a major correction upwards in a very short time. Let's hope the shorts get burnt as a result. Can't wait personally ;-)

[pro_s2009] 31/8/2021 09:43

The share price here is due to a 9 million share short on it.

They will have to close, be it sooner or later.

[davidblack] 31/8/2021 09:42

Fashionable gas against unfashionable gas?

[thebull8] 31/8/2021 09:20

HE1 reached 28.5p a share earlier this year resulting in a market capitalisation of £175million based on zero reserves or commercial success. TXP market cap today is £167million despite the biggest onshore gas find in Trinidad history, existing production, strong cash balance and huge future exploration targets.The share price here is utterly, utterly ridiculous

[1domus] 31/8/2021 08:49

David, it depends on wich side of the Los Bajos fault you are.
At Coora the Herrera is at about 10000ft

[davidblack] 31/8/2021 08:23

Domus if they are chasing the Cruse at 7,000 feet at WD4 then it’s much deeper than at Chinook.

Makes you wonder how deep any Herrera or Cretaceous targets on the west of the island might be located?

[ballymoss18] 31/8/2021 07:25

Thanks Domus for your informative posts.Don't know why Stockport had to change your estimated to exactly.

[1domus] 31/8/2021 05:50

WD-4 : Cruse

[davidblack] 30/8/2021 22:58

So D what is the target “oil” bearing rock? If you know?

[1domus] 30/8/2021 22:24

No, not in WD4

[awise355] 30/8/2021 21:57

Apologies for the spelling and grammatical errors

[awise355] 30/8/2021 21:56

Coho was and struck gas target as originally intended.The 10 well programme back in 2018 was purely development of the shall oil pools, small in impact but similar to the Permian (besides being conventional) difficult to miss and collectively the idea was these 200 locations would bring txp to a mid-size player, And the. coho came along and the Ortoire and they could get there with circa 10 wells rather than 200. Happy to be proved wrong.

[davidblack] 30/8/2021 21:35

The target is Herrera though?

[1domus] 30/8/2021 21:33

Not quite… at WD8 the typical well is around 4-5000 ft deep. In wd4 a typical well is around 6-7000 ft deep.
It is a fault between causing this difference.

[awise355] 30/8/2021 20:06

The previous 10 well exploration/development drilling was up to 4,500 feetSo it's quite exciting to explore up to 7,000 feet.

[awise355] 30/8/2021 19:48

That sounds quite deep compared the development drilling of 2018