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Market won’t even take £500 worth atm for a bed n ISA.
I don’t disagree they or comma is poor and misleading, but they intend to leave the year with same debt they started and are investing money earlier than generating it. I wish they had the wall of cash now, but it costs money to drill and they forecast that income over the year.
If the earnings are going to be so good, why did they need the loan for 'working capital' ?
Pre loan RNS:
We intend to use the additional Amended Bank Loan facility borrowing capacity to finance our 2024 capital program as presented in our December 19, 2023 news release entitled "Touchstone Announces 2024 Capital Budget, Preliminary 2024 Guidance and an Operational Update".
Post loan RNS:
We intend to fully draw the new $10 million non-revolving term loan facility to finance our 2024 capital program as previously set out in our December 19, 2023 announcement and expect to use the additional revolving loan facility credit capacity for general working capital purposes on an as needed basis.
Q3 Update:
"The positive impact that initial output from our Cascadura field has had on both our production profile, and more importantly, our operating cash flows is clear. The results from the first few weeks of production at Cascadura demonstrate that we can look forward to materially enhanced operational and financial results.
All 3 of these statements appear to contradict each other?
Oh I ain’t going to over ramp it. But I think I have earnt the right to post one here.
Check out HEX, a US helium play. Just IPO’d. I know there are some geo knowledgeable investors here that can figure it out for themselves but you may not have heard of it. A home for some change!
Good luck
Usual caveats
Trek
Absolutely thrilled that we have had some news and the SP has held!
Next news it may even go up!
Trek
Level 2 well poised for a tick-up with level 2 current 6 v 1 so last stock left at 44p IMO
Q1 earnings should be here in 3 weeks. Numbers should be fine and maybe a turning point. I think they'll also reiterate guidance plus updates on the new wells might give some support. Drilling 2 Coho wells next... (cf. preliminary Capex budget)... I'm not a fan. Let's see what they do.
As they say here in Italy speriamo
Well at least they are adding capex and expanding the facilities. All takes time though but we are much further along now.
Once that extra gas hookup is tested I think we could be near the £1 or hopefully closer to Malcy’s TP!
Usual caveats
Trek
So I can at least bail before I die
Well it should be 250 ;)
My bad; typo, meant to write 150 million but as you note, it's not even there ATM. Just makes the SP even more silly (and an even better buying opportunity).
Sturm
At the moment the co. Is capitalised at 126 million usd.
Think we are in a bit of a lull of news and updates as TXP build out infrastructure to support the future growth from the drill and fill, while some well have settled out at below initial levels and upcoming drills will supplement and grow this to back above 10k and on towards the 15k by the end of FY24. Seems like we are being treated a little poorly by the market but so much incoming improvements that this will only be for a short period :-)
No volume these days.
Anyways, what's worth remembering is that guidance remains the same for the full year; meaning the work with chokes etc. hasn't changed production plans. And that they forecast wells - new ones included - to perform. So that's 9.400 BOE's per day; 2K oil? and 48 mmcf gas. 40 million USD EBITDA? It's going to be a busy second half of 2024 for sure. Market cap 250 mio USD. One job... drill to fill. ASAP. (Or rather - sooner than that). P/E for H2 2024 is certainly appealing; 2025 will be even better. Question is how much it rerates before those new wells are hooked up.
Can anyone confirm if Paul Baay and James Shipka are currently in London talking with certain shareholders? If they are indeed here there would have been a golden opportunity to present themselves to all shareholders.
Thanks for sharing.
Malcy 16 April 2024 at 8:29 am - Reply
Hi Ted
I think I do but I am going to wait until I next meet up with Paul Baay which is tomorrow!
Cheers
Malcy
Tks Matt
Malcy stated himself on his blog comments.
https://www.malcysblog.com/2024/04/oil-price-chariot-touchstone-jadestone-and-finally/#comments
People saying meeting of PB and Malcy for interview.
Ss, Fair comment and probably more prospect of a spike than a fall at this moment in time which, in theory, should benefit the sp but with this company who knows?
Hi Erb, think this should work :-)
https://discord.gg/nqTERPB8
Aligator these predicrltions were made before Iran bombed indiscriminately into Israel .
According to documentary on BBC 2 last night Oil is going to exceed 120 $ a barrel.
Potentialy more depending on Israels response .
Supersport, What do you base your prediction on? Recent commentaries from both the market and crude traders are that oil prices will gradually decrease after April 2024 with minor stock builds because global production is increasing more than consumption. Further, they forecast that stocks will increase by 110,000 b/d from 2Q24 through 4Q24 and by 280,000 b/d in 2025, putting more pressure on the price of a barrel.
Does anybody have the link or username to get on the discord chat
Oil will be spiking in the weeks ahead