Touchstone Exploration Share Price (TXP)

I too have shares in PTAL, and it is hosing out cash but it is having to spend a lot on major civils to stop the river washing a way the site! It also is coming to the end of what it can drill on the block. It will continue to hose out money for a number of years as it turns into a factory to process fluids as it copes with increasing water cuts.

The cash flow is compelling but there are clear political risks as well.

There is potential for further blocks to be explored but that will cost and there are no guarantees.

At this price TXP is looking more compelling and I have bought for the first time in several years.

CEG looks a much more interesting multibagger play than PTAL.

Sturm, you've completely lost me. As far as I see it TRIN is worth 25% of whatever TXP's mcap happens to be at the time of the deal closing. Or 20% of the new enlarged company mcap. We're currently worth $100m, so TRIN's value can be worked from this point if you're buying at today's share price. And when you work this through the absolute value differences aren't that great between PTAL and TRIN. I agree the PTAL deal is more attractive (I own 500k shares there btw). But I'm not sitting here thinking TRIN is bad, or even an average deal for TXP (having said that my 350k shares average here is 33p). And TXP will realise a few $m in annual costs savings / synergies when this deal closes. This is significant when your value is $100m and you can drill cheap wells. Eyes open, PTAL has greater delivery risk. They can have all barrels in the world in the ground, but if you cannot get them to market there's no value. And there's significant geo-political plus environmental risk.

You are correct in saying that TXP needs the cash. This is of course why they have gone the simplest route, which is to do an all-share offer. This makes sense given they're a producer that can relatively easily scale production. So better to take $10m in the bank and the extra cash being generated by the deal to pump into their known gas and oil reserves. Providing they can get over executional risk with Casc (and the estimated resource is proven up), then you'll have your wall of cash hitting end of 2025 and beyond.

This is a bet on Casc being as good as they think it happens to be, and them being able to extract the gas without f@cking up wells etc. So far I believe they've had 3 hits and 1 miss. But the wells are cheap, and the returns are good. So overall it's a good bet here, and they will have the cash to expand in 2025.

I'd also say that TXP has more PI eyes on it, which can make it jump hard on good news or 'potential'. The last 2 years has seen the sp trade between 33p to £1. The trend is down but there's no way it drops any further when this deal closes. The sp has also jumped +50% 3 times in less than 4 weeks over the past 24 months. In other words, if they execute their plans then it's hard to not to expect the sp will jump 50% again before year-end. AIMHO GLA

I would be interested in hearing someone like zavier moonan giving his take on trinitys assets and their potential.

Well I've returning here with caution ,i was invested here heavy.

Very much appreciated to have a extremely balanced view form both sides of the Coin.

I do believe we've taken a hit for now , but have a high hopes at thiis SP

The cash is incidental. It's trebling the oil production and the revenue/profit that comes with that.