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I'd say bottom was reached today.
On wards and upwards from here.
Wow. Market didn't like that RNS. Income down, debt up - easy to jump to superficial conclusions. But another top up opportunity for those with an eye to the future. Still generating operating profit and lots of development underway.
if I log out I see them double ... so looks like the free / delayed feed is double printing trades but not the live feed.
yes i am??
Is anyone else seeing every trade in duplicate on LSE?
Thanks 1750mk1 - I need to type faster - over 400k trades and 9.6/9.9p. Some panic perhaps but we can't forget that Coho is only 2 weeks away at most.
it is no doubt an over reaction and looking well oversold but you are behind the curve on trades Zeus.... over 400k trades when you posted and all sells. On support and looking incredibly cheap now imo.
Sunday - I may have the timelines wrong? I read that line of 'Testing operations are expected to be completed next week.' as the drilling part will be complete and that would mean that there is another week for checking the results. Isn't that what PB mentioned at some point? A week for testing checking the results.
Simon - yes, the long awaited 2p rise ina day will be smashed but currently it will need a storming set of results to lift this back towards 20p. As for the red dot, I saw the FB headline before I got here this morning and already knew it wasn't the RNS of Coho results. If I hadn't of seen that then yes, I would have been fully expecting the Coho news we are all waiting for.
I think we are in for a rough day today unfortunately. However, as I have mentioned, I am still positive for the long-term.
Ol well.....I was in VOG for years....I learnt patience so this is nothing new. I'm sure we all have similar stories of patience. Not sure how, blind luck obviously, but I actually made profit in VOG. Anybody that knows that company will know that it could only be blind luck that allowed you out of that one with money in your pocket!!
Market makers today have taken the opportunity to push the sp down on low volumes imho. Just over 200k trades approx £25k at most and the sp is down c20% - that is not a measured response to the voluime of trades through today. I expect that a floor has been reached given that we will receive news on Coho-1 by next tor the following week. If we recall from Paul's interview a week to test and a week to get results out - end of next week or the following really is not long to wait. Given the earlier RNS we know this will contain good news on commercial gas. We just don't know how good the news will be. However we should remember that gas is not taxed as onerously as oil in T&T and this is good diversification for the company. The market doesn't like delays and in addition the financial position has increase income tax and reduced Brent prices - this is likely the worst quarter results we will get. Production is at a good level given minimal development in the last quarter and we will receive the tax credits for Cascadura likely in Q4 this year. There has been an over-reaction today by the market imho. I expect the Canadian market to be more positive as it closed higher than we did yesterday. The company has an extended line of credit to $20m. Woud they have got that if they didn't have a strong business case?
Photo, it sounds like you saw the red dot and thought this was going to be the day?! I bet we all hoped it was but we shall have to wait a bit longer. Still very positive in my eyes, Coho test results in not much over a week :-) Cascu very close behind in the grand scheme of things, Very exciting times in my view!
Your day will come and your 2p will be smashed! Not long now!
Regarding Coho it said... Testing operations are expected to be completed next week.
So if I have this correct, it will be beginning of December for Coho-1 results, a week of testing and results a week later and January for Cascudura results? A month of flow at CAS and testing before TXP will offer the information to us. Put Christmas in there as well, maybe results not even the beginning of January?
You know I am positive on TXP so get me wrong on the following.
I know the end justifies the means etc. but actually, I thought this RNS contained news which the market will not like. Delays, permit problems, mechanical problems, production down..... Not TXP's finest news delivery.
As I said, I am positive and remain so, and I know looking for natural resource is tricky at best, but I am disappointed by today's RNS.
Agree, given the price difference in oil between the two quarters 18-19, they. have done well, and once prices return to the 70s as last year they will be rolling in the profits. This was the toughest quarter and it’s these moments that drive in business efficiency. Nothing bad or of concern in this and the spring board is set! They will drill through the first pay zone at Cascadura this week or next. Look forward to the next few weeks and they seem confident both wells can deliver cash flows which is great.
Really pleased about daily production, a lot better than I expected.
A shame about the delays but these things happen.
As long as the end result is the same I'm not to concerned.
Great to see that the daily production is above 1700 bopd and not far from Q2 production. This is natural as we focus on exploration on Ortoire and not developement of existing wells. Think of the massive jump in production we could get in 2020. Also good to get an explanation for the delay on both Coho testing and Cascadura drilling. Coho result out next week. This was a good way to start the day! Lets hope Trump and Xi can figure out the trade war, and that OPEC makes more cuts in Desember so we get a higher oil price in 2020.