Member Info for 1750mk1

Touchstone Exploration is growing its production and generating cash.
Some of this money will be invested in three exploration wells at the
Ortoire prospect in Trinidad, which could provide significant upside.
Drilling of the first well is due to commence with the drilling rig
moved to the second site after the drilling is completed. The results of
the first well could be available in September.

The wells are near to previous wells drilled by Shell in the
1950s which showed signs of hydrocarbons. Touchstone has an
80% working interest in Ortoire and it will fund the full cost on behalf
of Heritage Petroleum, which owns the other 20%. The first well will
probably cost $3.3m and the second around $3m.

In February, Touchstone raised $5m (£3.8m) at 12p a share and at
the end of March 2019 it had cash of $7.59m, although net debt was
$10m. No debt principal payments are required until the beginning of
2021.

First-quarter results show average oil production of 2,121 barrels per
day, which is 15% higher than the previous quarter. Sales were one third
higher than at the same time in the previous year at $11m and this
generated $2.43m of cash. No wells were drilled during the period.

Production is likely to fall back in the second quarter due to reduced
production levels from two wells, but it should recover in the third quarter.

Touchstone is also bidding on a solar project with a partner. This
would involve using spare land to site 30MW of solar capacity. There
are options to fund this without hampering investment in the core oil
and gas operations.

There are plans to change the current tax regime in Trinidad
so that oil and gas exploration and investment is encouraged.
This would make it easier to fund exploration.

Joint broker GMP FirstEnergy places an unrisked valuation of 55p
a share on the exploration wells, while the current share price is
underpinned by existing reserves.

http://www.hubinvest.com/AIMPDFJuly2019_118.pdf

they'll likely be waiting for a warm rig, like the rest of us.

cuspy even :)

perky today

you are right ... presumptuous assumption there. Apologies lass :)

Significant that Labskin AI moving from beta to full rollout will see a "substantial increase in revenue" as income per client grows as they move from having conducted initial tests to a recurring testing phase of multiple products...

Liking the sound of clients, including large blue chip corporations, moving into the 'recurring revenue' stage as we head through 2019 / 2020.

fair play to you fella... big thing in life to have a job you enjoy

you were asked :) ... you must be sick of weddings :)

give us a link to your photos while we are waiting then Photo ?

they watch.... they want in but didn't buy yet, they even miss a dip opportunity ... they see a good rns confirming exponential growth that is set to continue... they decide to post negatively in the hope they can somehow influence trading to allow them to buy lower... they claim to be a holder.

reece, you sound like someone who regrets not having already taken a position and wants to buy on the bell.

"Revenues from continued operations grew by 890% to £477,000 (unaudited), and when combined with revenues in the first quarter for RinoCloud, prior to their acquisition, pro forma revenues jumped 1,213% over the same period in 2018 to £655,000 for the Group"

"The Board expects that we will continue to see this strong growth in the second half of the year, and we view the future with confidence."

"Strong" growth is putting it mildly imo.

there is no pump tho... SP just appears to be bouncing from an oversold drop and getting back on track ... gap filled, warrants likely cleared and a few unresearched PI traders left as there was no news for all of 10 mins.

NT again

and there it is... can buy at 2.04 on HL now.

NT on HL usually means we are due a tick up ... someone must be paying over.

come to think of it ... I wonder if sun protection products will need any new testing to substantiate performance claims under the new legislation ? Absolutely monster market and growing fast.

give it a rest kids

easy hold... chart looks set up for a bounce now so let's see.

can someone remind me of the chance of success on the first 2 drills ? :)