Touchstone Exploration Share Price (TXP)

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
	+0.00p	+0.00%	16.50p	12,055	08:00:09

Bid Price		Offer Price	High Price	Low Price	Open Price
16.00p		17.00p	16.75p	16.50p	16.75p

Industry Sector	Turnover (m)	Profit (m)	EPS - Basic	PE Ratio	Market Cap (m)
Oil & Gas Producers	28.12	6.82			26.5

Related Shares
Royal Dutch Shell (RDSA), Bp (BP.), Katoro Gold (KAT), Spitfire Oil (SRO)

Touchstone Exploration (TXP) Latest News

Touchstone Exploration News

Date	Time	Source	Headline
14/5/2019	13:45	ALNC	Touchstone Exploration April Production Slows After Solid 2019 Start
14/5/2019	07:22	UKREG	Touchstone Exploration Inc. FIRST QUARTER 2019 RESULTS
08/4/2019	07:00	UKREG	Touchstone Exploration Inc. GRANT OF SHARE OPTIONS
02/4/2019	18:02	ALNC	Touchstone Exploration Extends Credit Facility By One Year To 2023
02/4/2019	17:01	UKREG	Touchstone Exploration Inc. TERM CREDIT FACILITY EXTENSION
27/3/2019	10:02	ALNC	Touchstone Exploration Figures Surge As Production And Prices Rise
27/3/2019	07:00	UKREG	Touchstone Exploration Inc. YEAR-END 2018 RESULTS
25/3/2019	16:16	UKREG	Touchstone Exploration Inc. Standard form for notification of major..
14/3/2019	12:19	ALNC	Touchstone Completes Drilling Of Wells In 2018 Exploration Programme
14/3/2019	07:01	UKREG	Touchstone Exploration Inc. OPERATIONAL UPDATE AND NOTICE OF RESULTS

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Touchstone Exploration (TXP) Discussions and Chat

Touchstone Exploration Forums and Chat

Date	Time	Title	Posts
20/5/2019	20:50	Touchstone Exploration	4,371
23/8/2018	17:16	Touchstone Exploration	24
14/8/2018	10:08	Touchstone Exploration (TXP) One to Watch	-
10/10/2017	10:36	Touchstone Exploration - 2014 - A new dawn	891

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Touchstone Exploration (TXP) Most Recent Trades

Trade Time	Trade Price	Trade Size	Trade Value	Trade Type
2019-05-21 15:20:55	16.60	3,717	617.02	O
2019-05-21 07:46:52	16.01	8,338	1,334.91	O

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Touchstone Exploration (TXP) Top Chat Posts

Date	Subject
21/5/2019 09:20	Touchstone Exploration Daily Update: Touchstone Exploration Inc is listed in the Oil & Gas Producers sector of the London Stock Exchange with ticker TXP. The last closing price for Touchstone Exploration was 16.50p. Touchstone Exploration Inc has a 4 week average price of 15.50p and a 12 week average price of 11.25p. The 1 year high share price is 22.50p while the 1 year low share price is currently 10.25p. There are currently 160,688,095 shares in issue and the average daily traded volume is 411,846 shares. The market capitalisation of Touchstone Exploration Inc is £26,513,535.68. Read Full Thread Reply
15/3/2019 10:17	gabrieloak: MT in your post 4005 you mention me deleting all of my posts from last year...reasons for this are that I got nothing of any value back from having posted my research...and those that I found useful I came to know personally anyway... Pearls and Swine etc On the subject of research...something for Trinidadian oil holders to examine: Quoting Trin from their last update: "As previously stated, the Trinidad oil sector is going through rapid transition with the restructuring of the former national oil company, Petrotrin. To that end the new national oil company, Heritage Petroleum Company Limited came into effect on 1 December 2018. Whilst the transition has been relatively seamless in regards to production supply and distribution there has been some delay in the timings of payments from Petrotrin as a result of the restructuring exercise, with the result that receivables have increased by US$5.1 million at the year end. The management of both Petrotrin and Heritage have been in close contact with the Trinity management team and have provided the requisite comfort that all revenues will be received in full during 2019." This seemed to affect nobody else but TRIN and took out payment for their November production...or was it that TRIN was the only company to be transparent about it? Quoting TXP: "Effective December 1, 2018, Petrotrin transferred its upstream assets to the newly formed Heritage Petroleum Company Limited. Although the transition impacted sales volumes in the last week of November, the Company has not encountered further sales interruptions to date. From an operations perspective, the transition has been seamless, with only minor delays noted for existing well workover approvals." “The Company has collected its monthly crude oil sales payments from the recently formed Heritage Petroleum Company Limited in a timely manner pursuant to the transferred marketing agreements.” Here is the rub...The outstanding receivables to TRINITY are from PETROTRIN for November (NOT Heritage)...with TRIN quoting the generic "Trinidad oil sector", so when TXP quotes that everything is working smoothly with Heritage, it is a probable sleight of hand as the receivables issue is with Petrotrin and not Heritage. Sales interruptions...or a bit more? Furthermore, if you consider the production numbers for TXP for November (~1900bopd)and then calculate their potential missing revenue that did not come in (19005630 days=~$3.2mln)...then overlay it against the timing of the TXP (back door / surprise) capital raise and the amount that was raised...does it not leave you wondering if they might have been affected by the same issue as Trinity as part of a generic issue? This would be an obvious question to Paul Baay: "Dear Paul, Are you owed a sum approaching $3mln as a receivable from Petrotrin before the agreement switch from Petrotrin to Heritage...and yes, we know that all is well with Heritage?" If the answer is "well, Yes" then you should have some significant concerns about the honesty of TXP management and the financial stability of the company...perhaps this explains the current share price weakness of TXP? GO Read Full Thread Follow Reply
12/3/2019 11:38	mount teide: Eggchaser - guess who posted the following some 16 months ago when Brent was $62/bbl ? 'CERP is a particularly interesting growth story that is worth 5p+, IMO. TRINs current share price is of course laughable but it’s the share price in H2 2019 that matters to me.' With three months to go the current situation is; Share price then and now: TXP - 12.0p - 11.0p TRIN - 15.75p - 12.5p CERP - 5.00p - 2.25p Read Full Thread Follow Reply
08/2/2019 15:59	ileeman: "Nothing I say is going to affect the TXP share price." Aint that the truth. Just find it funny you dont hold so you deramp and then as soon as you buy you ramp lol Read Full Thread Follow Reply
08/2/2019 15:45	rossannan: iLeemanNothing I say is going to affect the TXP share price. Imagining that what you say (or what anyone else says) on a BB has any real traction is not a healthy way of thinking about shares. Even the Pied Piper himself, Mount Teide, would have to concur. Read Full Thread Follow Reply
08/2/2019 14:07	rossannan: Hoping the TXP share price overtakes the TRIN share price and I can then switch my TXP into TRIN - #result Read Full Thread Follow Reply
29/1/2019 10:17	rossannan: I note that Mount Teide seems more interested in talking his JSE book than his TXP book these days. I guess that the TXP share price and production figures did not really cooperate. I hope he has better luck with JSE.Cave illos qui in libro dicere, as the Romans never said. Read Full Thread Follow Reply
07/11/2018 13:13	spangle93: Well, greed beat fear this morning, a wee top up though it would have been nice to have been around to catch the lower price last week. TXP must be the best risk/reward oiler around at the moment - even not taking into account the macro trends described by Mount Teide, nor potential black swan developments - the TXP share price is supported by production, - oil price is looking like there are at least as many factors pushing it up as down - there's continuing well program activity - there's high potential game changing drilling next year in Ortoire Read Full Thread Follow Reply
30/10/2018 16:25	mr. t: One reason for the recent oil price drop is hedge funds unwinding heavily long positions, according to this Bloomberg piece: hTTps://www.hellenicshippingnews.com/hedge-funds-back-off-on-oil-as-saudis-signal-opec-to-open-spigot/ "Hedge funds’ net-long position — the difference between bets on higher prices and wagers on a drop — in WTI crude tumbled 15 percent to 206,295 futures and options in the week ended Oct. 23, according to the U.S. Commodity Futures Trading Commission. Longs dropped 9.8 percent to the lowest in almost three years, while shorts bumped higher by 13 percent." Let's assume that when Bloomberg say longs are the lowest in almost 3 years they mean since Jan 2016. Back then WTI was $31.68 - a good time for a trader to buy oil. In contrast to pundits who say hedge funds reducing net longs is a bearish sign, I see it as positive. Given all the selling, Brent is still over $75 and, when the hedge funds decide to go long again, they'll be a lot of buying pressure. In contrast to the article's bearish interpretation, another positive for TXP investors I see is this: "And front-month WTI has closed at a discount to its second-month contract for more than a week, another indication of an oversupplied market known as contango. So although oil for immediate delivery has dropped $10 in price, oil further out hasn't dropped as much and (for first time in a long time) is priced higher. So - if oil prices stayed as the forward curve is today (I know that's ridiculous) - TXP will do well. I'd also expect a hedge or put option to be more competitively priced, if TXP wished to enter into one. One more positive for oil prices from the article: "But, it’s not all doom-and-gloom for the bulls. Hedgeye Risk Management says the oil market could be in for a surprise when U.S. sanctions on Iranian crude begin next month and Brent could gain $5 a barrel, with a spike to $90 a possibility." It'll be interesting to see what happens to oil prices, and TXP's share price, when Iran sanctions begin to bite in earnest. Read Full Thread Follow Reply
28/7/2018 11:29	mount teide: ross - there are many ways to skin a fish ref: funding Ortoire. Another alternative would be that TXP could fund from cash the drilling of the best two gas prospects first. Should either prove successful - such is the potential asset value relative to the entire drilling cost of the Ortoire exploration programme, it could be used in a variety of ways to raise the finance to drill the remainder of the Ortoire prospects. This would leave the entire cash flow generated from current production to finance up to 20 wells for the 2019 production development programme. 'looking at the Ortoire story (which tends to be presented on here and even by the company as a far, far better prospect than is suggested by TXP’s current MCAP' After a year on AIM and despite the best efforts of management, TXP has probably moved from off the radar to a faint echo on the extreme edge of the largest range setting. This is largely because the market cap is probably still too small to interest the overwhelming bulk of the II community. Of far greater significance in my opinion is the appearance on the shareholders register of a specialist high conviction O&G sector II of the highest quality in North Energy - a fund run by a team of ex Norwegian Sea O&G sector professionals, who have increased their holding from 3.3% to 11.1% over the past 12 months. Following recent news of the size and number of the Ortoire prospects the company will be targeting with the exploration campaign, the share-price has broken out to a new AIM all time high - this is likely to continue over the next 5 months as we approach the commencement of the drilling campaign, aided and abetted by rapidly rising production from the seven new wells due to come into production during H2/2018. While many PI's were buying Asia Met at a 1p to 2p share-price, it failed to attract any II's - it took the share-price rising to 4.3p before the first(JPMorgan) showed their hand. Others II's waited until the share-price had risen 11 fold before taking exposure via a large placing. The reality is that the company and the potential of its assets hardly changed from the days of 1p - its just that they are now on far more radars and others can see that even at 11p the upside potential like at TXP today is huge. The collective knowledge of this board with reference to the investment case of TXP is probably, with the exception of North Energy, far greater than possibly any other II. Many PI's used a similar situation at Asia Met when the share-price was 1p to fill their boots with millions of shares, that II's were recently willing to pay more than 11 fold for when they finally got round to carrying out some research worthy of the name - but could have been picked up much, much cheaper as a result of the 2010-2016 copper sector recession if they had kept their eye on the ball. The oil sector also experienced a deep recession over a similar time period which resulted in many T&T onshore operators going to the wall and drove down the share-price of TXP to such an extent it was possible to buy for £85k the same size shareholding as the CEO who paid £1m for his nearer the peak of the market. What has changed regarding the business and assets since the CEO paid £1m for his shareholding? Operating and employment costs have been dramatically reduced Targeting the deeper plays has seen a 100% increase in production per new well Drilling costs have fallen by circa 42% A production development inventory of 208 drill locations has been identified Annual programme of 20 or so recompletions offsets annual field decline rates 5 drill prospects targeting very large reserves have been identified on Ortoire Brent has risen over 100% since the Q1/2016 recession lows. Most Multi National and National oil companies have cut O&G exploration budgets to the bone over the over the last 5 years. 2017 was yet another record low year for discovered conventional volumes globally. Less than seven billion barrels of oil equivalent was discovered. “We haven’t seen anything like this since the 1940s,” says Sonia Mladá Passos, Senior Analyst at Rystad Energy. “The discovered volumes averaged at 550 million barrels of oil equivalent per month. The most worrisome is the fact that the reserve replacement ratio in 2017 reached only 11% (for oil and gas combined) - compared to over 50% in 2012.” According to Rystad’s analysis, 2006 was the last year when reserve replacement ratio reached 100%. Not only did the total volume of discovered resources decrease – so did the resources per discovered field. An average offshore discovery in 2017 held 100 million barrels of oil equivalent, compared to 150 million boe in 2012. “Low resources per discovered field can influence its commerciality. Under our current base case price scenario, we estimate that over 1 billion boe discovered during 2017 might never be developed”, says Passos. “While there have been some notable successes this year, we have to face the fact that the low discovered volumes on a global level represent a serious threat to the supply levels down the road,” says Passos. “Global exploration expenditures have decreased year-over-year for three consecutive years now, falling by over 60% from 2014 to 2017. We need to see a turnaround in this trend if a significant supply deficit is to be avoided in the future.” As with Asia Met at a 1-2p share-price - long term cyclical markets can often at their nadir throw up some great opportunities that hindsight subsequently shows was staring you in the face - its often just having the confidence in your own research to buy when the herd and II's are still avoiding these sectors like the plague. II's usually come in once these cyclical markets have demonstrated sustained recovery by supporting placings often at large discounts - though missing out on the most spectacular gains that were there if they could have been bothered to look. I consider today's TXP price as like buying Asia Met at 2-3p before the PI herd and non specialist II community woke up and smelled the coffee(that a new recovery stage is under way in these highly cyclical long term markets). As with Asia Met, I strongly suspect the situation at TXP will probably look very different in 12 months time. AIMHO/DYOR Read Full Thread Follow Reply
03/5/2018 08:25	grannyboy: What's happened to TXP share price rise mirroring TRIN's????...The MM's arn't following the plan and need to get up to speed!!!!..;))) Read Full Thread Follow Reply

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