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TXP Touchstone Exploration Inc

0.00 (0.0%)
29 Sep 2023 - Closed
Delayed by 15 minutes

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Share Name Share Symbol Market Type Share ISIN Share Description
Touchstone Exploration Inc LSE:TXP London Ordinary Share CA89156L1085 COM SHS NPV (DI)
  Price Change % Change Share Price Shares Traded Last Trade
  0.00 0.0% 63.00 250,218 08:00:00
Bid Price Offer Price High Price Low Price Open Price
62.00 64.00 63.00 63.00 63.00
Industry Sector Turnover (m) Profit (m) EPS - Basic PE Ratio Market Cap (m)
Crude Petroleum & Natural Gs 28.35 -3.20 -1.40 - 147.06
Last Trade Time Trade Type Trade Size Trade Price Currency
16:00:31 O 26,965 63.06 GBX

Touchstone Exploration (TXP) Latest News

Touchstone Exploration (TXP) Discussions and Chat

Touchstone Exploration Forums and Chat

Date Time Title Posts
30/9/202310:52Touchstone Exploration - Production and High Impact Exploration1,448
29/9/202315:09Touchstone Exploration36,069
15/5/202320:32TXP - Further Exploration5
18/12/202200:15Touchstone Exploration - 2014 - A new dawn895
14/5/202201:45Touchstone Exploration - TXP - Charts and more...135

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Touchstone Exploration (TXP) Most Recent Trades

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Touchstone Exploration (TXP) Top Chat Posts

Top Posts
Posted at 30/9/2023 10:52 by pro_s2009
The next expected news is :

November or December - Spud of Cascadura C first well of two planned.

December (Mid) - Full financials update and plan going forward.

Anytime, including mid-December - potential news of a new deal with the NGC for an icnreased price for gas (up from 2.5 to 3.x) and news that owing to this new deal, TXP will increase production from 60 per day to 90 per day from the initial 2 wells at Cascadura A pad.

The last item, which is unknown as to whether it will happen or not, and the timing of any agreement is unknown as well - would be, if it happens, a significant event and lead to a good say 20% rise in the TXP share price. It will have a massive impact on 2024 finacials and drilling plans in 24/25/26/27
Posted at 27/9/2023 10:48 by lazarus2010
fwiw I think PB is doing a solid job. Yes they have missed a lot of timelines, but much of that has been outwith his control. There is a sensible plan in place to build up cash before embarking on next round of drilling, avoiding the need (not the desire) to raise cash or borrow more to fund development drilling.

I like many on here am somewhat gobsmacked at the share price reaction to us finally putting Casc onstream, but PB has no control over the markets so can't really be blamed.

He's also taking a sensible approach to managing the current 2 wells at Casc by not trying to maximise production, maintaining the integrity of the wells and the gas field, and still producing enough cash flow ($4mln per month) to start the next round of development wells. He also clearly stated that he doesn't want to increase production at current sales price, not sure when that is up for any re-negotiation or when the price might rise due to being index or inflation linked?
I think he also stated the 2 wells are producing 1400boepd of liquids, which in itself doubles 'oil' production, I don't believe the market has considered this in the current share price Had we had no liquids but 1400bopd from Royston the share price would/might have climbed instead of dropped!!

aimho but imho TXP still a solid hold and buy on weakness, like now!

aimho dyor niai
Posted at 26/9/2023 19:26 by dunderheed
Under is a trader and doesn't pretend any different.
He is entitled to post what he likes and often we personally do not agree - and I'll admit even I thought the Clown may pull a last minute "final chance for mates" placing out of his Clown hat - I certainly didn't think this was a definite possibility but it was a "potential"reason for the recent share price weakness.

The other "potential" reasons are that the "market" doesn't have confidence in the Cascadura assets and/or the "management" of TXP.

I don't know of the three which is the worst possibility to "worry" about if it is a genuine concern - all three pretty awful - but I put out there a question for other people to "possibly" answer - why is the share price so "low" "considering" - and I don't want to hear bear market and other macro reasons - because in theory at this stage TXP enterprise should reasonably be valued at 50% higher than current price - so can some of ramper central* explain to me please?


* Concerted group who shout down any "critical" TXP postings
Posted at 26/9/2023 14:45 by lauders
You seem to be in prime "ramp mode" Pro. Silence and now you are back online it is positive, positive, positive. I sure hope you are right, but the share price is telling a different story at the moment. Let's see what everyone thinks AFTER the presentation today and what happens to the share price over the days that follow.
Posted at 26/9/2023 12:39 by pro_s2009
By 2025 we could easily be sailing over 400p a share........such is the upside potential of Touchstone now.

Fully cashed up and ready to exploit over 50 exploration leads (I did say they would only highlight 20 to 30 in the new presentation). Actually its lots more.

Sit back, fill yet boots and just be patient. Let the whingers whinge and moaners moan, but TXP is transformed and the share price will be going up soon.

Short term all depends on the first of the Casca-C wells coming in good, that is the rocket fuel for the share price...........spud next month and results in November.
Posted at 24/9/2023 03:30 by lauders
Well, I am sure shareholders hope you are correct. The logic would dictate that you are spot on. However, this is TXP. Things have been intimated before and then either not come to pass (drilling results) or happened unexpectedly (one placing that was denied, that actually did go ahead despite the BOD's assurances). So they have created the doubt that exists in the market today. Hence the lower than expected share price at the moment too. Once next week is over and others than PB (I believe he is not the only one speaking) give their update I hope things will improve and the share price will react positively. Until then we don't know what will happen and surprises may still be in store (decline in Canada on Friday?). Good ones I hope! Until we know the FACTS it is still uncertain what is what with TXP and even then there will still be doubters. Call "wolf" too often and this is what happens.
Posted at 24/9/2023 02:58 by pro_s2009
Did have a chuckle then when I see people talking about a placing.......why not just write "I sold out and want to buy in cheaper" ?

Why would TXP now need money ?

What can they do with it apart from stack it up with the other money now pouring in ?

Firstly, you must obtain CEC or EIA approval to drill. TXP currently have 2 drills at Coho left on an existing CEC and 8 drills at Cascadura (4 A and 4 C) on an existing EIA. They can do nothing else in their new licenses or Ortoire until they apply for a CEC and get approval.

They are fully funded for the work ahead which is drill Cascadura 6 and 7 at the C well site, drill Coho 2 and 3 at the Coho site, drill a couple of Legacy wells and later on put a pump in Royston and in the success case at Cascadura 6 or 7, commence the pipeline and facilities to connect C to A.

By the time thats all complete their bank balance will be nice and high from their current production which is over 10,000 boepd now.

The TXP haters/traders now have to accept the fact that TXP no longer need any more equity dilution - those days are gone.......forget it and move on now. The record is broken.

The push ahead now is to get Coho to 24 per day and Cascadura to 200 per day by Q3 2024 and if Royston flows well under pump conditions some time in 2024 (after Balata/Rio Claro are signed over) then thats pure upside.

In the meantime the studies start and the CEC applications go in for the next round of exploration drilling commencing most likely Q4 2024 onwards.

The big difference is last time they used old drilling pads left over from previous exploration and so every drill was compromised as trying to get the best result from an old pad location.

The new CEC will be based on TXP building their own drilling pads, ideally located for each prospect to be drilled - no more using bad locations and trying to make the most of it.

And thats the thing for TXP, they have with the new licenses and the license swap over 50 exploration leads to drill. You wont see that next week, most likely showing only 20 to 30 - but once the other licenses go through that will zoom upwards. Most AIM companies have 2 or 3 or 4 prospects to drill. Thats the upside for TXP in late 24 and 25/26/27/28 - cash flying into the bank which pays for a dividend (2025 onwards) and loads of exploration upside.

So coming back to the broken record of a placing............ they dont need it, they dont need the cash, and there is nothing they could do with extra cash at this moment in time. The plan is in place and its fully funded already.

Timeline is likely :

Big rig drills 6
Service rig reconfigures Coho-1
Big rig drills 7
Service rig moves to Royston to instlal pump
Big rig drills Coho 2 plus poke deeper ?
Big rig drills Coho 3 plus poke deeper ?
Big rig drills legacy wells - having a poke into the deep in one of them based on TRIN findings.

Its now Q3 2024 - production is up to over 20,000 boped - Coho 24 per day and Cascadura 200 per day plus legacy and any Royston upside.

Now the fun starts - solid production and now all the exploration drilling commences............for the next 10 years - non stop exploration upside.
Posted at 20/9/2023 08:20 by johnoxxx
Spawny- re lousy gas price, it may not be the highest price but it still ensures TXP have a very profitable (very low OPEX) and reliable cash flow,there is also the inflation factor each year.
Joey- I agree I don’t think asset swap will ignite share price but could prove very profitable in long run. Re Cas C I disagree, good results there will help the share price IMO.
Posted at 18/9/2023 10:22 by joey1998
Yes I read the RNS.

I have to laugh at the delusion over this share. Just go back and read your posts, other people’s posts, all talking about the future share price when certain events came to pass — all of which have come and gone, Coho, EIA, Casc, Royston, all of it, and yet the share price sits at 70p.

You do know that the objective of investing is to make money, right?
Posted at 12/9/2023 22:57 by 11_percent
This share is being scammed (manipulated) by someone, City Boys/Hedge Fund.

its been going on for a few years.

Recently.....we have had the pump, up to 94.....and the dump down to 65.
Good money.

Its all about timing with these guys.....which means they know for sure when the RNSs will arrive.

This latest move is a take down......to buy low......for the rise.

However......the share price is still being taken down, and they still have to load up......which means the Casc Flow RNS is still a while away.

My guess.....the share price will keep falling as no RNS arrives.........and punters on the BBs spread panic.
Touchstone Exploration share price data is direct from the London Stock Exchange
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