Gordon Stein, CFO of CleanTech Lithium, explains why CTL acquired the 23 Laguna Verde licenses. Watch the video here.
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Highland matt, If investing or lending money into project type companies (eg. oil and gas developers) was based solely on the current year financials, no one would risk their money. Such investments are invariably based on the npv of verified reserves which is why so many shareholders are puzzled by the current valuation of a company which had to raise equity and loans to fund the development of its assets on the basis that the returns would accumulate over later years - that is classic project finance. So to place a current valuation of ca £110m on a company whose known reserves have npv's considerably larger than that figure just simply does not make sense and suggests there is an ulterior motive, as SimonT suggests.
Someone observed that the share price in pence now correlates to the Cascadura output in mmcfd. So there is hope yet. Just need to increase production.
Well lets face it, the company no longer needs share holders. We have funded the development of this comany and the placing providers have made their money too, which is the whole purpose of these markets (share holders fund it and take the risk) but they are now self funding. We are now not needed and a thorn in their side that costs them time and money to placate. I see the next stage of this comany as either selling it to make a wedge or them taking control of "their company". If the SP was high the former would be more likely but at this SP i think the later will happen?! And if that is the case it would make sense to do it before any major increase in production. It is just a matter of how much to offer the share holders? I had always dreamed of a buy out happening here in the same vein as Carrapal ridge, there is hope yet! One way or another i am convinced we will see an SP much higher than it is today sometime this year and i will sit tight for that.
Sorry, PC had a fit while typing.
The headline numbers don't look great without understanding the reasons, North appear to be selling down, the commodity prices achieved aren't great, the tax is high, and all profits are going straight back in to drilling so there's nothing for shareholders at the moment. However, there is a clear path to much higher production, which should transform those numbers. It was always about maximising Cascadura to get 200mmcfd.
The headline numbers don't look great without understanding the reasons, North appear to be selling down, the commodity prices achieved aren't great, the tax is high, and all profits are going straight back in to drilling so there's nothing for shareholders a. However, there is nothing for shareholders at the moment. However, there is a clear path to much higher production, which should transform those numbers. It was always about maximising Cascadura to get 200mmcfd.
Tidd83, The problem is that those among us who are LTH's have repeated your rerate comment time and time again going back years, all to little or no avail. Frankly, I am at a loss to understand why a company with such a promising reserve portfolio, current oil and gas production, an ongoing production well programme and established infrastructure is valued so poorly which gives some credence to Geld's comments. Let's be realistic, the paucity and content of news flow from TXP has been p*ss poor and, for the past couple of years, the sale of shares on positive news has taken the sp backwards. One could almost begin to think that, as Geld comments, there is some ulterior motive among management.
Of course, we are not helped by the absence of the big guys which means that the shares continue to be thinly traded.
I'm not saying it will happen, just AIM so nothing surprises me. Am a holder here for LT now and would like to see this rise as much as anyone
Not sure I agree on that theory Geld.
TXP are rapidly progressing on all fronts, there will be a day (as with most stocks) where people will trip over themselves to get in despite the fact they have opportunity now.
A seller is pegging the price imho but when momentum kicks in, the shares will re-rate and quickly.
just had the same happen on shanta gold. management to at probably a 60% discount with manipulation of news flow to supress the price prior. if they offered £1 tomorrow many would probably accept and move on but by aim rules they'd probably only need to offer 65/70p. i'd be ****ed
I am not a geologist or petroleum engineer so have a limited understanding of the prospective decline curve of the Cascadura formation (I appreciate there are various wells) and other discoveries. Is there anyone willing and able to comment on the current/predicted rates, etc?
You would think with an inevitable rise in production and reserves in the not too distant that people would be piling in here for what would normally be considered a nailed on SP increase. Yet here we are again sold down to a ridiculously low SP after good news! I am thinking we are being controlled in a concious effort to pee off the share holders so they will ultimately accept a lower offer in a buy out. I would'nt be surprised to even see a maganement takeover here at these prices with what is coming in the near term?!
I know if i had access to half a bil i would try it!
I fear we are never going see true value here as share holders and will get shafted maybe some time later this year?
I hope i am wrong but thats the feeling my gut is giving me!
Cavendish, Canaccord, and Shore all see more value here than what the current share price suggests. With good reason! 90+ production from Cas by year end, Coora wells doing 300bopd, then next year 4 B pad wells that can be hooked up straight into the pipe from C pad to A facility should take us quickly to 140+ from Cas... Then TXP can revisit Kokanee and maybe Royston for another poke at Oil. End of 25' (if you can wait that long) we might be £2+
The Forest Formation indicated 400 feet of sand, with approximately 250 feet of net
hydrocarbon pay. Similarly, the Cruse Formation indicated 300 feet of sand, with 150 feet of net hydrocarbon
pay.
400 ft NET PAYZONE !
Welltesting in May. This results/news is so undervalued
Reserve reports are usually updated after year end so it won't effect reported reserves if they test now or later.
Well let's bloody well hope so Malcy!! Us TXP holder's patience is marvel of the modern world!!
200p......ol please please Santa, can we all have this for Christmas.....then PB can give hampers to every person in Trinidad as far as I'm concerned.
Not good for the flippers but 100% I won't be losing coz I don't want to sell or need too .
This is all leading up to q3 now this will have its day for sure .
Has to be the bottom Aim does certainly present its opertunitys that's fir sure .
For those who have not read Malcy's comments, here are a three selected paragraphs which will hopefully provide all shareholders with some reassurance that their respective analyses of the company are not wrong. I specifically find it interesting that, in light of the impact of previous RNS's and the reduction in price targets by brokers, Malcy sees fit to maintain his target price of 200p.
"This is another company announcement that the market has failed to appreciate given how far forward the company is moving with its very substantial asset base at Cascadura in Trinidad. At the Cascadura-3ST1 delineation well which has reached TD with total sand thickness of c. 900ft in the target Herrera formation, and as above crossing the C-fault, and is being cased with production testing ready for 3Q of this year."
"Also work is being carried out on the flowline from the Cascadura C surface location to the natural gas processing facility which will also be completed in the 3rd quarter of 2024. There is a theme running through here, as successful development wells are being drilled and prepared for production as the production facility is being upgraded."
"Touchstone is developing a substantial and highly profitable business at Cascadura and whilst I appreciate that there were some delays in the original development there is now evidence that the drilling programme is putting production in place as this announcement points to. With a Target Price of 200p I’m confident that shareholders will be rewarded by their patience this year."
Thnx Highland, nice quote...
Touchstone is developing a substantial and highly profitable business at Cascadura and whilst I appreciate that there were some delays in the original development there is now evidence that the drilling programme is putting production in place as this announcement points to. With a Target Price of 200p I’m confident that shareholders will be rewarded by their patience this year.
Nice debrief Highlandmatt! Think this drop highlights the ‘fear’ factor here. Nothing has changed in the fundamentals, only noise around a Qtr over Qtr drop which in Q1 is not unusual anyway and ramp up tend to happen throughout the fiscal year.
Https://www.malcysblog.com/2024/04/oil-price-chariot-touchstone-jadestone-and-finally/
I guess news was not “exciting enough” and Q1 output reduction taking precedence.
Really this news was neutral and not worth the overreacting drop. It will come back to high 40’s in a couple of days so worth a top up as guidance has not changed, loan is secured and production ongoing….
Absurd discount applied today on excellent news.
I’ve taken the opportunity to add to my holding.
I note PANR rallied yesterday adding circa £100m to its MCAP based on a remodelled desktop study with not even a drill bit turning.
TXP producing and a further two successful development wells into an ever growing proven resource and the SP falls.
Spangle did a good pro/con on ADVFN https://uk.advfn.com/stock-market/london/touchstone-exploration-TXP/share-chat
Yes I remember mate, but wouldn't a test on both wells give a good understanding of what can be delivered and also if it's still unbounded in the Wells ( I think that's the correct terminology). Plus would it not give rise to new reserves.
Also helps repair trust with the market.
The testing kit available on the island was maxed out testing Cas 1 and Cas Deep. Probably feel it's not worth the money and effort.