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Touchstone Exploration ( TXP )
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- Lemon Quarter
- Posts: 1372
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Re: Touchstone Exploration ( TXP )
Next presentation is 29th April.
All being well this will be around the time Coho-1 is online to production......and a week or two before Royston spuds.
https://www.proactiveinvestors.co.uk/re ... etails/334
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All being well this will be around the time Coho-1 is online to production......and a week or two before Royston spuds.
https://www.proactiveinvestors.co.uk/re ... etails/334
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- Lemon Quarter
- Posts: 1372
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Re: Touchstone Exploration ( TXP )
Excellent news......
Casca-Deep flow tests excellent and also South West leases extended.
https://www.investegate.co.uk/touchston ... 00081080V/
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Casca-Deep flow tests excellent and also South West leases extended.
https://www.investegate.co.uk/touchston ... 00081080V/
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- Lemon Quarter
- Posts: 1372
- Joined: November 15th, 2016, 6:04 am
- Has thanked: 58 times
- Been thanked: 389 times
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- Lemon Quarter
- Posts: 1372
- Joined: November 15th, 2016, 6:04 am
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Re: Touchstone Exploration ( TXP )
I thought the interview was fine.
Show lots of caution - not perforating too much - being careful.
Market giving negative value to Chinook - so dont mention it. Its written off so let it stay that way unless it turns positive later.
Coho is on line soon - dont mention it - make it "matter of fact like" when it happens.
Express caution that Rosyton is exploration.
Express the near term way forward is production and cash flow - development wells - we dont need your dirty insti placings anymore.
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Overiding thing ahead will be shorts will want to close - they will have been banking on Casca flow tests being bad - they were in fact good - now they know next news is Coho-1 online and then Royson spud, and they will not want a short position open ahead of Royston, so they should be closing any remaining shorts not closed earlier this month.
Speculative money also currently in PANR, which will have its Talitha results soon and then with PANR having to fund raise for Alkaid well this summer, there should be a return of that speculative money into TXP for the Royston well.
So should be plenty of buying of TXP in the weeks ahead.
Show lots of caution - not perforating too much - being careful.
Market giving negative value to Chinook - so dont mention it. Its written off so let it stay that way unless it turns positive later.
Coho is on line soon - dont mention it - make it "matter of fact like" when it happens.
Express caution that Rosyton is exploration.
Express the near term way forward is production and cash flow - development wells - we dont need your dirty insti placings anymore.
--------------------
Overiding thing ahead will be shorts will want to close - they will have been banking on Casca flow tests being bad - they were in fact good - now they know next news is Coho-1 online and then Royson spud, and they will not want a short position open ahead of Royston, so they should be closing any remaining shorts not closed earlier this month.
Speculative money also currently in PANR, which will have its Talitha results soon and then with PANR having to fund raise for Alkaid well this summer, there should be a return of that speculative money into TXP for the Royston well.
So should be plenty of buying of TXP in the weeks ahead.
-
- Lemon Quarter
- Posts: 1372
- Joined: November 15th, 2016, 6:04 am
- Has thanked: 58 times
- Been thanked: 389 times
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- Lemon Quarter
- Posts: 1372
- Joined: November 15th, 2016, 6:04 am
- Has thanked: 58 times
- Been thanked: 389 times
Re: Touchstone Exploration ( TXP )
Bit of comment in Shares Mag.......saying in effect more upside to come from TXP.
Fair comment. They have a potential 1 TCF recoverable gas target being drilled next month, which would double and more and the share price on success..........going to be a lot of speculative money coming in for that I think.
Fair comment. They have a potential 1 TCF recoverable gas target being drilled next month, which would double and more and the share price on success..........going to be a lot of speculative money coming in for that I think.
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- Lemon Quarter
- Posts: 1372
- Joined: November 15th, 2016, 6:04 am
- Has thanked: 58 times
- Been thanked: 389 times
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- Lemon Quarter
- Posts: 1372
- Joined: November 15th, 2016, 6:04 am
- Has thanked: 58 times
- Been thanked: 389 times
Re: Touchstone Exploration ( TXP )
Main takeaways for me :
First and foremost - emphasis on that they are fully funded. The exploration and development plan will be "changed to suit" progress and there is no need for any further fund raises.
Coho - should be on-line by September. The reserves are there, they are not going anywhere, the value is there. It has no impact on the company if Coho flows first in July, or August, or September - see the above - they are fully funded. Emphasis on the big picture now.
Personally the above was a major thing I was looking for, confirmation that plans will be changed to suit whatever is ahead and they WILL NOT be looking for any further fund raising.
New rig arriving in June and should be ready for mobilization in September. Four wells to drill in the South West to increase oil production there and then the rig moves to Ortoire end of the year to start development drilling at Cascadura and hopefully Royston and Chinook as well.
One thing that was not said but is possible is one of the 4 wells will be a "deep" well in the South West - as DB has said, XM is spending a lot of time and effort down there and its very possible to "test the rigs capabilities" and get it "tuned up" that one of those 4 wells will be an elephant hunt well, deep. And I understand Paul not talking about it, as he is into hopefully "under promise and over deliver" mode.
Chinook, as has been said by a few, especially me, this is potentially a major oil discovery that just did not flow due to well damage. Its all to play for, news should be July/August time, around the same time that Royston gets to TD. As per the slide in the presentation, they have a "Full Development" plan for Chinook and two appraisal wells updip. The market is currently discounting Cascadura 50p for the Chinook result. Imagine that 50p back plus the value of Chinook if things turn out well in 60 to 90 days time.
Rosyton, on schedule for May spud. Royston if it hits the expected 700 feet of net pay is worth more than the total current value of the company, its a big well with a very big prize.
Interesting Shell are causing issues with Coho - quite a few people suspect Shell might come in with a takeover bid in the September to December period - and of course - limiting TXP cash generation makes a purchase price cheaper. Shorts are rising in Canada again (circa +500K shorts during April I believe) and there might be an ongoing attempt to "lid" the price as much as possible. Royston is the final well in the current Ortoire license commitment period, once its done then there will be a short window where someone might make a takeover bid. Once the cash is rolling in in 2022 and a dividend is announced, the price is going to very much higher.
New presentation link : https://www.touchstoneexploration.com/w ... -Final.pdf
Video of the Webinar (TXP were the 2nd company presenting) : https://www.youtube.com/watch?v=Os5ks4RhEPA
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First and foremost - emphasis on that they are fully funded. The exploration and development plan will be "changed to suit" progress and there is no need for any further fund raises.
Coho - should be on-line by September. The reserves are there, they are not going anywhere, the value is there. It has no impact on the company if Coho flows first in July, or August, or September - see the above - they are fully funded. Emphasis on the big picture now.
Personally the above was a major thing I was looking for, confirmation that plans will be changed to suit whatever is ahead and they WILL NOT be looking for any further fund raising.
New rig arriving in June and should be ready for mobilization in September. Four wells to drill in the South West to increase oil production there and then the rig moves to Ortoire end of the year to start development drilling at Cascadura and hopefully Royston and Chinook as well.
One thing that was not said but is possible is one of the 4 wells will be a "deep" well in the South West - as DB has said, XM is spending a lot of time and effort down there and its very possible to "test the rigs capabilities" and get it "tuned up" that one of those 4 wells will be an elephant hunt well, deep. And I understand Paul not talking about it, as he is into hopefully "under promise and over deliver" mode.
Chinook, as has been said by a few, especially me, this is potentially a major oil discovery that just did not flow due to well damage. Its all to play for, news should be July/August time, around the same time that Royston gets to TD. As per the slide in the presentation, they have a "Full Development" plan for Chinook and two appraisal wells updip. The market is currently discounting Cascadura 50p for the Chinook result. Imagine that 50p back plus the value of Chinook if things turn out well in 60 to 90 days time.
Rosyton, on schedule for May spud. Royston if it hits the expected 700 feet of net pay is worth more than the total current value of the company, its a big well with a very big prize.
Interesting Shell are causing issues with Coho - quite a few people suspect Shell might come in with a takeover bid in the September to December period - and of course - limiting TXP cash generation makes a purchase price cheaper. Shorts are rising in Canada again (circa +500K shorts during April I believe) and there might be an ongoing attempt to "lid" the price as much as possible. Royston is the final well in the current Ortoire license commitment period, once its done then there will be a short window where someone might make a takeover bid. Once the cash is rolling in in 2022 and a dividend is announced, the price is going to very much higher.
New presentation link : https://www.touchstoneexploration.com/w ... -Final.pdf
Video of the Webinar (TXP were the 2nd company presenting) : https://www.youtube.com/watch?v=Os5ks4RhEPA
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- Lemon Quarter
- Posts: 1372
- Joined: November 15th, 2016, 6:04 am
- Has thanked: 58 times
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Re: Touchstone Exploration ( TXP )
Investors Chronicle write up on TXP :
https://www.investorschronicle.co.uk/id ... ouchstone/
INVESTMENT IDEAS
Production within touching distance for Touchstone
Shares in the Trinidad and Tobago-focused gas company took a hit in March after a disappointing well test. But that means an opportunity to buy in to rising production on the cheap
April 29, 2021 By Alex Hamer
Buying opportunity from Touchstone's recent drilling disappointment
Strong infrastruct.........................
https://www.investorschronicle.co.uk/id ... ouchstone/
INVESTMENT IDEAS
Production within touching distance for Touchstone
Shares in the Trinidad and Tobago-focused gas company took a hit in March after a disappointing well test. But that means an opportunity to buy in to rising production on the cheap
April 29, 2021 By Alex Hamer
Buying opportunity from Touchstone's recent drilling disappointment
Strong infrastruct.........................
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- Lemon Quarter
- Posts: 1372
- Joined: November 15th, 2016, 6:04 am
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Re: Touchstone Exploration ( TXP )
Eric Nuttall has purchased 4 million shares on the dip. Says London AIM market has a lot of cowboys on it so its volatile and basically all the morons sold on the Chinook news, so he has been buying.
Video below :
https://www.bnnbloomberg.ca/market-call ... on~2192534
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Video below :
https://www.bnnbloomberg.ca/market-call ... on~2192534
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- Lemon Quarter
- Posts: 1372
- Joined: November 15th, 2016, 6:04 am
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Re: Touchstone Exploration ( TXP )
I feel there is going to be a massive push for Cascadura cashflow and that new exploration drilling will be pushed to H2 2022. For those who are going to attend the LSE Webinar featuring TXP on 25th May I would base probing questions around the below.
The way forward I see as we stand now is :
Q2 Cascadura pressure readings released/reserves comments.
Q3 Royston drilling result / Chinook testing result / Cascadura development planning/progress.
Q4 Four wells in the South West oilfields, 3 shallow and 1 deep (testing for elephants - a covert explo drill - to test the new rigs capabilities and of course, to check out what XM has been investigating down there, if there is anything lurking in the deep.........but the headline is its another production well from the shallow)
Q4 Cascadura work being fast tracked to get online year end or as close to it as possible.
Q1 2022 Cascadura development drilling - getting as much gas on line as possible/infill drilling
Q2 2022 Chinook development drilling - getting as much oil into the liquids pipeline from Cascadura
H2 2022 Development drilling at Royston (all being well) and then exploration drilling.
Gaubine likely to be oil target, fast tracked following Chinook result - will feed into the liquids pipeline route being put in place for Cascadura liquids.
Steelhead next, tie into Royston pads.
Finish 2022 with a bang, and Kraken gets drilled Q4 2022.
That plan will leave them absolutely rolling in cashflow end of 2022, with Coho and Cascadura gas and liquids, Chinook oil, Royston potential gas and Gaubine potential oil - all on production.
Link to register page for the 25th May presentation is below :
https://us02web.zoom.us/webinar/registe ... zo4hxQ_QcQ
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The way forward I see as we stand now is :
Q2 Cascadura pressure readings released/reserves comments.
Q3 Royston drilling result / Chinook testing result / Cascadura development planning/progress.
Q4 Four wells in the South West oilfields, 3 shallow and 1 deep (testing for elephants - a covert explo drill - to test the new rigs capabilities and of course, to check out what XM has been investigating down there, if there is anything lurking in the deep.........but the headline is its another production well from the shallow)
Q4 Cascadura work being fast tracked to get online year end or as close to it as possible.
Q1 2022 Cascadura development drilling - getting as much gas on line as possible/infill drilling
Q2 2022 Chinook development drilling - getting as much oil into the liquids pipeline from Cascadura
H2 2022 Development drilling at Royston (all being well) and then exploration drilling.
Gaubine likely to be oil target, fast tracked following Chinook result - will feed into the liquids pipeline route being put in place for Cascadura liquids.
Steelhead next, tie into Royston pads.
Finish 2022 with a bang, and Kraken gets drilled Q4 2022.
That plan will leave them absolutely rolling in cashflow end of 2022, with Coho and Cascadura gas and liquids, Chinook oil, Royston potential gas and Gaubine potential oil - all on production.
Link to register page for the 25th May presentation is below :
https://us02web.zoom.us/webinar/registe ... zo4hxQ_QcQ
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- Lemon Quarter
- Posts: 1372
- Joined: November 15th, 2016, 6:04 am
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Re: Touchstone Exploration ( TXP )
New video out. Additional Questions and Answers from the recent Webinar
https://www.youtube.com/watch?v=WqPSvzUNR7E
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https://www.youtube.com/watch?v=WqPSvzUNR7E
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- Lemon Quarter
- Posts: 1372
- Joined: November 15th, 2016, 6:04 am
- Has thanked: 58 times
- Been thanked: 389 times
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- Lemon Quarter
- Posts: 1372
- Joined: November 15th, 2016, 6:04 am
- Has thanked: 58 times
- Been thanked: 389 times
Re: Touchstone Exploration ( TXP )
The Cascadura-Deep pressure recorders should be pulled up this weekend. A week to crunch the data and hopefully some news ahead of the Webinar on the 25th of May.
We might this time get an Operations Update RNS on the 25th morning, so Paul is free to talk about the news in the Webinar later that day. Would be nice if the data suggests a decent sized reserves increase.
For anyone who has not registered to watch the Webinar.
Link to register page for the 25th May presentation is below :
https://us02web.zoom.us/webinar/registe ... zo4hxQ_QcQ
.
We might this time get an Operations Update RNS on the 25th morning, so Paul is free to talk about the news in the Webinar later that day. Would be nice if the data suggests a decent sized reserves increase.
For anyone who has not registered to watch the Webinar.
Link to register page for the 25th May presentation is below :
https://us02web.zoom.us/webinar/registe ... zo4hxQ_QcQ
.
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- Lemon Quarter
- Posts: 1372
- Joined: November 15th, 2016, 6:04 am
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Re: Touchstone Exploration ( TXP )
CANA maintained their 150p target price and Buy rating on TXP following the Q1 results.
https://www.smarteranalyst.com/new-blur ... nergy-cpg/
Touchstone Exploration (PBEGF)
Canaccord Genuity analyst Charlie Sharp maintained a Buy rating on Touchstone Exploration today and set a price target of p150.00.
https://www.smarteranalyst.com/new-blur ... nergy-cpg/
Touchstone Exploration (PBEGF)
Canaccord Genuity analyst Charlie Sharp maintained a Buy rating on Touchstone Exploration today and set a price target of p150.00.
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- Lemon Quarter
- Posts: 1372
- Joined: November 15th, 2016, 6:04 am
- Has thanked: 58 times
- Been thanked: 389 times
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- Lemon Quarter
- Posts: 1372
- Joined: November 15th, 2016, 6:04 am
- Has thanked: 58 times
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Re: Touchstone Exploration ( TXP )
https://www.shareprophets.com/views/557 ... alysts-buy
Touchstone Exploration – Q1 results, upcoming potential catalysts: BUY
By HotStockRockets | Saturday 15 May 2021
Disclosure: I have no positions in any stocks mentioned, and no plans to initiate any positions within the next 72 hours. I wrote this article myself, and it expresses my own opinions. I am not receiving compensation for it (other than from ShareProphets). I have no business relationship with any company whose stock is mentioned in this article.
Oil and gas company in Trinidad and Tobago Touchstone Exploration (TXP) has announced that, despite a focus on its Ortoire block exploration program, in the first quarter of 2021 it “generated funds flow from operations of $538,000” and “believe that available credit facility capacity combined with anticipated funds flow from operations will be sufficient to satisfy… 2021 minimum exploration work commitments”. That so.......
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Touchstone Exploration – Q1 results, upcoming potential catalysts: BUY
By HotStockRockets | Saturday 15 May 2021
Disclosure: I have no positions in any stocks mentioned, and no plans to initiate any positions within the next 72 hours. I wrote this article myself, and it expresses my own opinions. I am not receiving compensation for it (other than from ShareProphets). I have no business relationship with any company whose stock is mentioned in this article.
Oil and gas company in Trinidad and Tobago Touchstone Exploration (TXP) has announced that, despite a focus on its Ortoire block exploration program, in the first quarter of 2021 it “generated funds flow from operations of $538,000” and “believe that available credit facility capacity combined with anticipated funds flow from operations will be sufficient to satisfy… 2021 minimum exploration work commitments”. That so.......
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- Lemon Quarter
- Posts: 1372
- Joined: November 15th, 2016, 6:04 am
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Re: Touchstone Exploration ( TXP )
Quick link below to the March 31st MD&A document, which goes into more detail of the Q1 results.
https://gofile.io/d/T8vZmc
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https://gofile.io/d/T8vZmc
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- Lemon Quarter
- Posts: 1372
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Re: Touchstone Exploration ( TXP )
Meeting yesterday with TXP......lets hope some good progress made.
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- Lemon Quarter
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