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TXP Touchstone Exploration Inc

-0.50 (-1.60%)
14 Jun 2024 - Closed
Delayed by 15 minutes
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
  -0.50 -1.60% 30.75 138,262 10:00:54
Bid Price Offer Price High Price Low Price Open Price
30.50 31.00 31.25 30.75 31.25
Industry Sector Turnover Profit EPS - Basic PE Ratio Market Cap
Crude Petroleum & Natural Gs USD 35.99M USD -20.6M USD -0.0879 -6.14 126.47M
Last Trade Time Trade Type Trade Size Trade Price Currency
15:17:29 O 7,000 30.60 GBX

Touchstone Exploration (TXP) Latest News (1)

Touchstone Exploration (TXP) Discussions and Chat

Touchstone Exploration Forums and Chat

Date Time Title Posts
15/6/202411:56Touchstone Exploration37,553
04/3/202413:56Touchstone Exploration - Production and High Impact Exploration1,607
21/11/202308:19Touchstone Exploration - TXP - Charts and more...136
10/11/202315:00TXP - Further Exploration8
18/12/202200:15Touchstone Exploration - 2014 - A new dawn895

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Touchstone Exploration (TXP) Most Recent Trades

Trade Time Trade Price Trade Size Trade Value Trade Type
2024-06-14 14:17:3030.607,0002,142.00O
2024-06-14 14:14:1830.8510,0003,085.00O
2024-06-14 14:14:1130.8522,5506,956.68O
2024-06-14 14:13:0530.8449,73515,337.78O

Touchstone Exploration (TXP) Top Chat Posts

Top Posts
Posted at 15/6/2024 09:20 by Touchstone Exploration Daily Update
Touchstone Exploration Inc is listed in the Crude Petroleum & Natural Gs sector of the London Stock Exchange with ticker TXP. The last closing price for Touchstone Exploration was 31.25p.
Touchstone Exploration currently has 234,212,726 shares in issue. The market capitalisation of Touchstone Exploration is £126,474,872.
Touchstone Exploration has a price to earnings ratio (PE ratio) of -6.14.
This morning TXP shares opened at 31.25p
Posted at 11/5/2024 12:14 by 11_percent
che7win11 May '24 - 11:44 - 37330 of 37331
0 0 0
TXP has quadrupled production and due to double again by year end.

But it is on target.


Current revenue run rate 85m dollars per year.



All three wells this year successful.

The problem here is that 2 wells that have been drilled on the Casc C pad have not been flow tested......its jam tomorrow = trust me.
We have had several wells that have looked good.....only to fail to deliver when flow tested.

For the record.....I do expect Casc 2 and 3 wells to flow well.....but that needs to happen to get it into share price


I appreciate your enthusiasm for the take-over and the facts regarding it do look positive on paper......but TXP management need to to deliver the synergies.....and management is their weak point.

BTW......they all need to move to T&T now.

150p share price is not inevitable in my opinion.......its possible if TXP ever get their act in gear.....which I don't believe they will. always.....the Ortoire Block remains highly prospective.....particularly Cascadura where I looking for a 1 Trillion + gas field which will produce for 20+ years.

I am looking for a presentation from PB....showing a plan on the way forward for the combined group.
Posted at 10/5/2024 11:00 by flyinghorse1
If Trinity were land based only -great. The offshore component and the money needed to maintain and develop it further has been a lead weight round Trinitys neck (IMHO), so now the combined outfit (TXP/Trin) have to carry that weight forward unless they can unload it.
I expect a sustained low TXP share price for quite a while post acquisition , but happy to be proven wrong.
I think I am entitled to express my disgruntlement with this deal as a TXP holder , especially as we as share holders have no say in it(apparently).
Posted at 10/5/2024 09:55 by flyinghorse1
I find it hard to believe no TXP holders are up in arms about this proposed deal. Interesting on Trinity BB its mentioned that the share allocation ratio is 19.99% to Trin so that it apparently allows TXP to issue additional share capital with out getting shareholder approval. Fait au complet.

I have serious misgivings about the venture into East coast offshore (Galeota) and its implications to TXP.
They know not what they are doing , so it reinforces my overall view of TXP board, their decision making process,unfortunately.

Im pretty sure the majority of the Trinity holders will bail out of TXP (I dont see any time restriction on them selling stock) when the deal is done further depressing the TXP price, as most are currently bound in by agreements with Trin (ie being directors or past investors or board members), with no clean way of exiting the mess they got into.
Posted at 09/5/2024 15:02 by flyinghorse1
I guess Trinity are unlocking the value by passing the parcel to TXP.
Could not make it up.
Trinity directors and those giving unequivocal relinquishment of their shares realise the road ahead for Trinity is closed so must be delighted with this out come.
Im sure all their options etc will vest on change of control etc.
Whats not to like as a Trin holder, unless your a TXP holder , I suspect this will take a long time to unwind with a lot of indigestion on the journey before we see the TXP share price rise.
There will now be more opportunities now for P R Baay to make questionable decisions.
Lets just hope Perenco buy the whole lot once deal thru.
Posted at 06/5/2024 21:27 by dunderheed
I agree with a good post from Sturm over on LSE earlier today and excuse me replying here - but LSE reduce amount of words in posts so I'd have to write multiple entries and on phone - so not easy. I think Sturm posts here as well, so thought I'd reply here! I'm personally not sure about the “expected̶1; increase in resources for TXP versus TRIN (in a non cash constrained environment) and let's wait and see how testing and plateau production profiles impact this for current wells at Casca? It could be a case of, in one hand, out of the other (I certainly do not hope this is the case but we simply do not know, "considering" other history - but I personally believe Casca will always be a "winner" size wise)?!
I think it is questionable how much further TRIN price may have dropped but think there is certainly room for TXP share price to increase over the months ahead so am a "little" confused (but not "that" concerned) as to "Why Now"?
That is not to say it is an absolutely obvious deal to be done - at some point with obvious benefits and nothing genius in this - just like obtaining contiguous acreage to discovered resources - purported by some to be "genius", ahem.
Possible "reasoning" (?) could be :
1. We dont know sod all about sod all regarding TXP current production profiles going ahead but, I'd have thought this "deal" was certainly “mooted” at least 6-9 (probably nearer the 9?) months ago when perhaps Clown expected much higher Casca profiles would be expected hence, thought share price would be higher anyway?
2. It could be that TRIN have now intimated there are other "interested parties" which led to this being upgraded more quickly than was the preference (I personally do not give this much credence however - either genuine interested parties or "bullied" into making "quick" offer by TRIN management with the "threat" of this - could have prompted now)?
3. We do not know if there was any high level "external" influence - encouraging such a deal to TXP as well?
4. Aligned with above - perhaps this deal is "linked" to other ongoing strategy we are also not aware of? To be clear we have "paid" for this with some form of perceived "dilution" had we potentially "waited" for higher TXP share price but, I really would not want Shell onshore assets at all - definitely with no further "dilution" - unless they paid us to take them or unless it could lead to some form of negotiated gas price increase (but the less said about that already publicly discussed item, the better, ahem!) - as I personally think we have far too much to be getting on with, at this time already!
4. It could be the case of Clown getting the timing strategically wrong again (surely always best to have just got Casca done and producing in first place - then do the Rosyton Chinook higher risk stuff later, IMHO)?
5. It could be the case that Casca wells coming on-stream aren't the greatest wells ever seen and the TXP share price continues to "struggle" and this prompted some "corporate actions now - rather than "later"" (I don't personally think this as I would already have sold but it is a "risk") but saying that, it would be a pretty catastrophic scenario anyway and dwarf this current perceived "dilution"!
From the above, I also don’t take much encouragement that TRIN have been “convincedR21; of the robustness of Casca current production profiles to "recommend" the offer, as to be really honest, how else are the TRIN management going to conjure up such a large short-term increase in share price and allow them to exit in the short term so “easily”?
6. So who knows - it really could be any of the above or none - but one thing is for sure I would like to see some "sacrifice" within TXP senior "management" as well as TRINs for "G&A reduction efficiencies", as see this as a good opportunity to potentially clear out dead wood on BOTH sides?
As ever - absolutely all IMHO and DYOR of course.
Posted at 06/5/2024 08:17 by eggchaser
Thanks HB - this sums it up for me and my investment here..ConclusionThe scale and savings means this is a win-win for TRINies and Touchies. Saving of several million dollars per year should be achievable.With oil achieving around $60 per barrel and gas achieving $15 per BOE, after Trinidadian royalties and taxes, TXP is forecast to begin generating serious levels of cash in 2024 (in a year with heavy capex) but FCF is forecast to grow in FY25 to £14.1m and doubles again to £28.9m FY26.TRIN has a forecast FY2024 additional £5.2m FCF (£5.1m reported earnings).Combined, FY25 should comfortably be above £20m FCF, with earnings potentially £25m. Assuming £22m this equates to 13.3p for each TRIN/TXP shareholder, potentially doubling to 27p in FY2026. That could be incredibly attractive (considering the TXP share price of 40p, that's a FY26 PE of just 1.5.It makes the 5% fall this week feel very strange indeed.
Posted at 03/5/2024 21:44 by spawny100
It's been a brilliant trading share I agree. But I'm unclear as to what this offer for TRIN means and what it might do for the share price from these levels. If Cascadura and Ortoire etc were as good as they were hoping then they wouldn't be trying to empire build from such a lowly share price. But then if Cascadura and Ortoire were as good as Baay has been crowing then we wouldn't be at this lowly share price right now. Logically this move smacks of desperation to me so I see no reason to buy back in here yet.
Posted at 01/5/2024 11:24 by holdandhope
I agree the timing could have been better because of the dilution at this undervalued share price in order to pay for the acquisition in shares, but to focus simply on the cost (25% dilution) without thinking about the value that is added with the acquisition is one-sided. The acquisition includes a small amount of cash, potential for significant cost efficiencies running the operations in Trinidad, significant cost efficiencies in corporate overhead costs, significant (relative to current levels) additional production and cashflow, cheap additional reserves, further explo/development opportunities for some of the expected significant increase in TXP operational cashflow coming in the next 18-24 months to be spent on, and perhaps most valuable of all in the next few years, large tax losses that can be offset against the expected TXP profits to come with development at Cascadura. I think as the market digests the potential, and assuming the Cascadura production growth is realised to utilise the full tax loss value, the share price will reflect that despite dilution this deal adds significant value to TXP.
Posted at 01/5/2024 08:28 by 11_percent
Seems like bad timing......TXP share price is on the floor......could have waited till the 2 wells on Casc C pad are tested and confirmed as good flow......with subsequent share price rise.
Posted at 21/3/2024 13:58 by ashkv
Why the massive decrease in Cascadura production in February 2024?

JAM Tomorrow!!! Production Increase H2 2024 / End 2024.....

I am very concerned that Cascadura is another Coho :( Coho continues to decline steeply and now well below 500 boe/d as per Feb 24 production numbers.

Did TXP provide January 2024 production figures?



TXP share price vs 52 Week low of 40.5p on 6 Feb 24: 17.28%
TXP share price vs 52 Week High of 94.5p on 7 Aug 23: -49.74%
Brent: $85.70
Shares Outstanding (From FY 2023 Update): 234,213,000
Market Cap (GBP): £111,251,175
GBPUSD: 1.27
Market Cap (USD): $141,288,992
Production Average Q4 2023: 8,504
Production Average February 2024: 7,081
2024 Mid-Guidance For Production: 9,400
2024 Year End Exit Production Guidance: 14,500
Net Debt (FY 2023 Results RNS): $22,581,000
Enterprise Value (USD): $163,869,992
Enterprise Value Per Barrel (USD) Q4 2023 Avg Production: $19,270
Enterprise Value Per Barrel (USD) Avg Production Feb 24: $23,142
Enterprise Value 2024 Mid-Guidance For Production: $17,433
Enterprise Value 2024 Year End Exit Production Guidance: $11,301
2P Reserves (Boe) Year End 2023: 67,379,000
EV/2P: $2.43
Touchstone Exploration share price data is direct from the London Stock Exchange

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