Touchstone Exploration Share Discussion Threads

[mr. t] 18/5/2018 10:39

Might not be a popular view on this board, but I'll be pleased if txp's share price continues to fall. I've got a good position, but would happily add at lower prices.

[john henry] 18/5/2018 10:16

climbing a stairs up two down one.

[novicetrade68] 18/5/2018 09:49

Isn't it odd when someone pays 16.33p for 250k shares and here we have this morning investors falling over each other to sell at 14p.

[phowdo] 18/5/2018 09:42

Fwiw, can buy at 14.1p upto 50k

[lord gnome] 17/5/2018 20:35

That late trade was actually an early trade at 08.40 this morning, so someone wanted in size and was prepared to pay for it.

[davr0s] 17/5/2018 19:19

Don't you think your looking too closely at the price trading action?

[novicetrade68] 17/5/2018 18:46

Very unlikely a sell you would think...

[captainfatcat] 17/5/2018 18:12

Late trade showing 250k @ 16.333

[mount teide] 17/5/2018 15:28

With rising interest rates - looking for an inflation hedge?

Energy and Copper has comprehensively outperformed Gold as an inflation hedge over every 5 year time period during the last 25 years.

While Oil and Copper's link to economic trends is interesting, their power to shield a portfolio from inflation is even more compelling.

Rising prices come from an overheating economy with strong consumer spending - the same factor that is an influence on oil and copper prices.

As a result of this connection for every 1% annual increase in consumer prices since 1992, the price of energy and copper has jumped 27.6% and 18% respectively, more than tripling the 5.2% logged by gold!

Inflation Hedge - Gains for every 1% annual rise in US CPI (1992-2016)

2.4% - S&P 500
5.2% - Gold
5.9% - Precious Metals
12.2%- Industrial Metals
13.6%- Broad Commodities
18.0%- Copper
27.6%- Energy

[novicetrade68] 17/5/2018 11:33

Wonderful, allowed me to pick up a few @14.40p whilst still doing some research here.

[sleveen] 17/5/2018 11:25

Yup a couple of late reported 100k share sales just reported, now those sales are out of the way, share price progress should be made.

[phowdo] 17/5/2018 11:11

Looks like backwardation in the oil futures strip is easing.
Indicates that the world waking up to higher prices in the future too rather than just today,tomorrow,next week.

Meanwhile at TXP, shares transferring from impatient to patient.

[mount teide] 17/5/2018 10:41

Brent currently trading at $80.04


Brent crude oil heads towards $80 per barrel as Total threatens to quit Iran - Guardian Business Live

[crooky1967] 17/5/2018 09:31

Hi offerman,

Netback amounts are based current oil @79.

1st quarter netback of CND $33.53 was achieved on oil @ $66.86. So due to $13 difference minus discount and royalty (33%) I came up with CND $45.

[offerman] 17/5/2018 09:18

Hi crookyNot invested here but have on my monitor list . Why only 45$ Are they on a ipsc?

[crooky1967] 17/5/2018 09:10

Nice recap M T.

Oil at $79 today so lets look at the figures based on last update, current oil price and taking the new well average into account.

Current production 1775 bopd, 9 wells to be added at average 80 bopd per well (720 bopd). Netback based on $79 oil I believe in the region of CND $45, this is not taking into account no royalty payments on new wells for the first year, so could be higher.

So that is 2495 bopd x 90 days x $45 = CND $10,104,750 (£5.85m) by 4th quarter.

My bets are with the cash coming in that TXP will look at drilling a couple of wells near the end of the year in the Ortoire block, which could hold significant oil pools.

again AIMHO/DYOR

[mount teide] 16/5/2018 22:20

2017 - 4 Well Drilling Programme

As of 14 March 2018(after an average of 9 months on production) the 4 wells were still producing at a combined rate of 402b/d - more than double the 50b/d per well expected.

2018 Well Drilling Programme

Initial five wells took a combined 76 days to drill at an average of 15.2 days per well. A total of 22,931ft was drilled at an average of 302ft/day.

With the next well due to spud late May/early June - management's 'by August' completion target for the ten well programme looks realistic; particularly with two of the next 5 wells scheduled for the high performing Coora 1 block - the two drilled on this block in May 2017 took just 9 days each at an average drill rate of 610ft/day and, were still producing at a combined rate of 237b/d in mid March 2018.

RNS - Feb 2018:
'Following the completion of the two wells in Coora 2, the Company expects to drill two wells on its Coora 1 block from a single surface location as follow-ups to the two successful wells drilled in 2017. One of the two wells will be targeting uphole zones that are identified in the CO-369 well that cannot currently be produced from the same well bore under existing regulations. As the CO-369 well continues to produce at approximately 200 barrels of oil per day, the Company will accelerate the recovery of unbooked uphole sands through the drilling of the offsetting development well. The second well on the location will be targeting a deeper horizon identified in a separate fault.'


AIMHO/DYOR

[fardels bear] 16/5/2018 16:40

Cheers.. Let's see how it goes..

[captainfatcat] 16/5/2018 16:33

Hello FB good timing I think.

I agree with rossannan 20p looks very likely to happen over the next few months maybe even sooner if we are lucky and the newly competed well flow rates are good.

fingers crossed.

Tick Tock

[fardels bear] 16/5/2018 09:41

OK, I'm in, FWIW.

[glennborthwick] 16/5/2018 09:39

just picked up another 600 quids worth

[captainfatcat] 16/5/2018 08:42

Had another nibble this morning I suspect it wont show for a while ;-)