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Anyone looking for info would do well to read this:
https://www.touchstoneexploration.com/wp-content/uploads/2019/10/Touchstone-Q2-2019-Presentation-Final.pdf
Currently waiting for COHO-1 shut in test results. They are proceeding with the 3km pipe line to tie it into Shell’s plant (has capacity to take 30MMCFD easily)
Cascadura - 2nd well reaches TD in next few weeks. Chinook -3rd well; bridge built over creek to site. Looking to move rig from well 2 to 3. Royston-4th well; the big one, they were planning to get bigger rig as TD is over 10000ft. But now think can drill with this rig.
I’m in with 650000 shares with around £100k invested so yes, some of us have done some serious homework... GLA.
We all knew it was a no brainer buying at 13p.
Anything under 20p is a massive bargain.
There is no reason at all this couldn't be £1+ by this time next year.
The numbers speak for themselves.
Also PB spoke of moving the 17000 boepd royston appraisal prospect forward to being the next drill. If that comes in then this will be hitting £1 a share
I've got a feeling we are going to pass the 2p rise today and hold it......
50p party?
MM's have decided to follow Canadian lead and maybe our seller is done? Similar buying volume to another recent day where the sp didn't move but I'm not complaining. Still quite a way to go to fair value. Paul set out newsflow clearly in the interviews this week - Casca TD in c 2weeks with Coho full gas test results to follow - this will solidify initial results from Monday. Loking positive for next month or 2.
seller clear by looks of it ... re-rate overdue on transformational news
Looks like some pretty good buying today. Happy to see that.
I think those figures of 16000boepd are very conservative.
Maybe 16000 from the 4 targets in this current exploration play.
But now they have proven the geological model there maybe multiple more targets with 10's-100's of targets on each of these.
If you look on the map Oritore is HUGE!
Should follow Canada up at open. No brainier at this price for me.
MCap of £160m feels reasonable if they develop the ortoire block, which they had stated has the potential for 16000 boepd and which now feels very do able, and quickly if they focus on the gas prospects.
The current Mcap of £20m is just crazy.
I bought in this morning, looking ahead to the confirmed results
The spread is incredibly tight 13.30 to sell and 13.31 to buy.
Not that it matters for us LTH
This time next year once we have results from all 4 drill this could be moving in 13p daily increments.
It's been a long wait but PB and his team have pulled it out of the bag.
0.3 to go an they will show in Blue.
MMS want your Shares
Sunday, agree they are all buys but below mid price so showing in red. I purchased a few at 13.31 and that was shown as a sell just to confirm this
Think most of the trades showing as sells today are actually buys.
Simon - great post 9:47am.
That is a good listen Sunday. Full analysis of Coho in about 1 month, nice Christmas pressie! And they might bring the original 4th well in the plan, the BIG gas one Royston forward to be drilled 3rd after Cascadura!
https://www.valuethemarkets.com/2019/11/19/valuethemarkets-podcast-031-paul-baay-of-touchstone-exploration-discusses-the-higher-than-expected-initial-flow-rates-from-coho-1-txp/
So much news flow in the next few month.
2020 is going to be massive for TXP!
The full test results are whats needed here, after what happened over at Bloe I imagine a lot of people are waiting for these. Their well was announced as producing as much as 1400bod with a $12m placing done on the back of it only for it to fall to 51bod in a short period. ii's and pi's were unhappy as the share price lost 2/3 of it value after the initial multibag rise. So I think the bigger investors are just waiting to make sure this well is not like a shaken can of pop being opened. Sustained high rates after a longer test are what is needed to really add value.
How significant is Coho? Take $10m and add it to every line in their financials. It’s massive...and MM’s know it. Go $7m to be Uber conservative...hang on.....it’s Massive!!!! ??
This is old Photo an clearly needs updating .
PB was asked about dividends and he said he would really want to give dividends as he was a very big shareholder himself. That’s honest enough.
9p for the whole Ortoire block and 26p for the rest of TXP? How can that be? Coho-1 alone is going to be bigger than the rest of TXP’s current production. Did they miss a zero off of the 9 maybe?
Shell, yes I do remember PB saying that in one of his earlier interviews.
This could have been early last year though so may struggle to track it down.
I don't think people understand the magnitude of Oritore.
The block is massive!
Our game have just started with more than double our daily production on Coho - the smallest prospect. Royston could be a beast for TXP with no SPT. In one year we could see pounds here. Someone earlier mentioned that it was PB`s plan when we reached 5000 bopd to pay shareholder dividends. Anyone here know something about that? TXP could be a cash cow the coming years, so glad Im in at the start. GLA
So excited about these four wells. The first Coho-1 has turned out to be a massive hit. Probably the market needs to getbits head around this. subday, absolutely agree with you. I think the 9p was if they got some success, not if they smashed it right out of the park. Great stuff, GLA.