Touchstone Exploration Share Chat (TXP)

We must be on a win win situation .

if we lose out on the Aquistion we're head straight back to where we was beforehand.

If the Aquistion goes through,not only will we be a Major producer on TT with cash in the bank ,were be able to expediate exploration.This new offer from LOL proves up our offer.

From where I'm thinking there's two negative worrys here.

Decline rates

An a bigger offer from TXP

The potential upside is massive ,I believe the Market has got this completely wrong.

Anthony Brash explains very well in the interview why more oil (from Trin) is a bad thing and not synergy. Increased complexity and increased costs - you can count on those two effects. Synergy? Nah.

"Do the taxes on gas production make it more attractive to invest in than oil?

There is a government royalty of 12.5% for gas production that was introduced a few years ago, which the oil producers pay. That is why bpTT got rid of their oil assets. You make more money off of producing gas. Additionally, not only is it more economical producing gas, you don’t have to work over gas wells, whereas in an oil well, there are always workover jobs that need to be done on a regular basis."

If we could see the balance sheet of the company may put some meat on the bone, did check companies house to many red herrings.

Ultimate player, ex director trinity

https://theenergyyear.com/articles/drilling-dynamics-and-economics-in-trinidad/

SuperRoty,

good luck but I Reckon you missed your chance!

I think TRIN will now come down and TXP go up!

Trade is now sell TRIN (53.8) buy TXP (31) IMO.

Trin are playing high risk stakes here. After all the TXP DD and legals they had an offer supported by the local juro’s.

Could be that the ‘cowboys’ are not in a position to meet the deadline with a firm offer in which case it’s highly possible that TRIN end up with FA!

Then what will happen to the TRIN SP!

TXP should at least recover something from this misplaced venture!

Oh and a Casca hook up RNS in between the distractions!

Usual caveats

Trek

Check ADVFN posts/discussion: From Spangle (Thanks):

'kaos - Lease Operators Limited are the entity with which TXP announced a swap of assets in January 2023 - you know, the one that would be completed by the end of 2023, that would result in TXP becoming operator of Balata East.'

Anyone found anything out about Lease Operators. Looks like they've done some drilling for bigger players but can't find out anything regarding their operations. Must be being used as a front for other players otherwise can't see them having the money to even buy trin let alone develop their assets.

Well I've just sold my TXP and bought TRIN. Looks the better short term position to me if TXP raise their bid.

Https://newsday.co.tt/2024/07/24/venezuela-signs-gas-production-deal-with-bp-for-cocuina-field/

'Manakin-Cocuina is a little more than 100 km to the south-east of Galeota point.'

Has this led to a re-evaluation of Trinity's Galeota Block?

Hence LOL's offer, or a much larger third party acting behind them (perhaps BP?)? Who knows what goes on in their (once smoke-filled) rooms.

Touchstone NOT upping their offer will flush them out. As most commentators say - we do not want to be involved in a bidding war. First, make sure Cascadura is fully up and running - other opportunities will arise later on.

i honestly can't work out wtf is happening here. firstly, can we force the deal to be done? and, what is condition 2.3? from what i can tell it's going to be pretty hard for these slippery pr!cks to be able to back out now. and if they do, then we're far better off not being involved with them. there's no way they are worth that money.

i think this is a shake down from a local outfit who are trying to get the txp offer up. the deal makes sense when the txp sp is in the low to mid 30's. in the 40's and we're paying over the odds for ageing production and limited reserves. especially when one considers the amount of resources to go at with casc. this is why i've said i'd lose my **** if we go back with an improved offer. pb should clearly state the offer that was approved by the trin board and shareholders is final. the company will not offer improved terms. and it will legally contend any moves to kill the currently sanctioned deal. they should then leave it. this other outfit has a matter of days to do due diligence and get everything in order. and even then they need to convince the local authorities and courts it is all legit. and if we miss out, then no harm done. they're a bunch of shysters and not worth having on board pulling this sort of thing.

Agree Sturm. If we do end up "merging" with Trin i think their board members have just sealed their own fate and will be disposed of asap!

SimonT - I think shareholders dread that PB and JW consider raising the TXP bid (despite the spanking they got on the AGM) and hence fear further dilution. It also signals that the major shareholders of Trinity aren't trustworthy and that the board isn't able to line up the ducks. Who wants to merge with that chaos sh.t-show?

You couldn't make this up .

We went down on the news of buying Trin due to the dilution and now we are going down because we might not be buying Trin! All PB has to do is get Txp SP above 45.36p and the present deal of 1.5x shares for Trin holders would be worth more than the possible 68.05p offer Lease Operators Limited (LoL) might make. 16th August deadline for that offer now in place.

Touchstone would have the right to appeal .

Anyone know what this is “ability to invoke Condition 2.3 (ii) of Part A of Part Three of the Scheme Document on the day prior to the Rescheduled Court Hearing if it so chooses.”

Definitely can't blame PB for the new offer. Just sums up the last couple of years for me. Things always don't quite work out as they should or how we have been told. Some of it I think is PB's fault other times not. End result the same. If there's no new offer then surely this new offer is accepted. Better than ours and those trin investors who want to be in txp can buy more shares after in the open market anyway.

Now that is interesting. Not 'we note the TXP RNS'. Not in the name of the Trinity BoD.

Q. Am I reading this RNS right? Are they saying its a done deal or what?

I don't think it's PB fault that there has been a better offer for Trinity,but it does help to show the Nay sayers how good this deal is.

Market over sold an selling

Seems his style. To be fair I'm not sure if there is a regulatory requirement to portray the new offer to shareholders of trin? Perhaps nothing that underhand happening. All I'll say about PB over the last 3-4 years is the stuff he has control over he doesn't do a fantastic job of and the stuff he doesn't he seems to be unlucky. Not a great combo. Still a hold for me here though think the quality of the assets will shine through, perhaps more in spite of PB than because of him.

L292. Defeat snatched from the jaws of victory?

Another PB special here. Deal which tanks the share price, said deal gets potentially snatched away at the last minute and we end up with the SP depreciation and no deal. If we go back with an improved offer I'm selling regardless. What we have is good enough to get the share.price 2-3x what it is today if they could just concentrate on delivering that.

If TRIN new conditional deal does progress, any compo? If does not progress then hope to see some gazundering.

At the moment TRIN is up due to gazumpimg

But market think TXP may increase off which is negative

Need RNS