Member Info for 1750mk1

since when is that Gizzy ? ... last I heard we hadn't renewed any hedge.

Key here is to actually do some research to see what is unfolding and how well the company and growth is managed... continual development drill program (some 200 to go at) as well as the quality low risk / high impact drills coming up short term over summer.

Brent up on yesterdays highs with 75 in sight... playing out perfectly for TXP.

TXP budgeting is done on brent at $55... last year they had 500bopd hedged at $50...

Earlier this year Paul Baay said 66 was "teriffic" for Touchstone.... and he also made the following comments...

"somewhere between $60 and $70 (Brent) and that makes a very very, very very positive price and cash flow for us.”"

“We’re looking at some really solid numbers that are north of $60 and taking that back to Touchstone, north of $60 we basically can fund a continual drilling program … we’re really excited with where we’re at on the cost structure and everything else”

So he must be positively giddy with brent at 74 and pushing on... and rightly so.

ooosh... printing $$$

Lol, time for a trade :)

Have a great weekend all.

I guess some folks have easter eggs to buy so fair enough to take a few bob out for the long weekend, might need some sun cream too... but gonna be eating regretti spaghetti for by May day tho.

A few got mugged at 15.5 ... same will happen here imo. I think we all know it's heading for 20s pre spud so not worth bothering to try and trade on the way imo, its been very strong and not too spikey and with 2x 95% COS drills up first there is a strong case for letting it ride all summer.

I'm also with Gizzy on expecting an operational update any time... a positive one.

not worth it imo ... if holding for value to out and Ortoire boost. Too easy to trip up and lose some or all your holding and be buying back higher.

RSI was overcooked at 15.5 .... few days consolidation with a small dip and suddenly paying over 18 before you blink.

RSI can stay overcooked.

in spite of the daft ramping :)

Paul Baay talking about Ortoire being a "step-change" and "monumental" for the company ...

"when I talk about step change we are currently about 2100bopd (now 2200+) production and each one of the prospects on their own is larger than that so the first gas target that we’ll drill has basically the opportunity to double production. When you look at the oil opportunity we could have up to 65 wells to drill in there… and then the final well that we’ll drill later in the year could be up to about half a TCF of gas which is really world class prospects for a company our size”

at 30 mins in

V O X M A R K E T S

in4cedros, you unfortunately appear mistaken in your conclusions drawn but that's fine, you don't keep up with TXP as you said, genuinely, no worries, why should you... I wasn't suggesting you make stuff up in the slightest anyway. You appear to be getting wound up because it seems you have an issue with Dross, which is fine... he's seems a bit of a troll and flips his script depending whether he's a buyer or a seller from what I've seen of him. If he's de-ramping here he's probably accumulating :) ... He's not in TXP anyway atm, I believe he's switched to TRIN. Can't help think of that guy coming out of the casino in that old VW Golf ad.

GL long here, I'm sure it will come together.... and good luck to all of us with SPT.

quite possible tidd and no worries either way as I'm as happy as anyone to focus on Ortoire... but I do think he'll go for one before. If he did mention May as Gizzy says then that fits that spec and we could get news in an operational update, perhaps before Q1 results.

I'd like to think we may see a nice trickle of newsflow through May to tee things up nicely for spud in June.... and I expect throwing in a 'high grade' choice development drill would go down well.... particularly if we get news of the discount to Heritage being down to 8% (at least for March) as Gizzy has not so subtly hinted at.

No one need be shooting anyone in4... it's all good. Ok, maybe Dross :)

The 4 drills at Ortoire you refer to PB talking about are the exploration drills, I was referring to the continual development drilling program that TXP operate... that is where he is referring to have met contractual obligations.

If he means that they have external obligations to drill 4 wells in 2019 and 2020 that isn't much and barely worth outlining that he 'has to proceed with drilling because of obligations' as if he would rather not due to SPT. They drilled 11 last year alone and he's already stated they will do at least 4 development wells this year having taken a break since Dec due to the oil crash, no doubt in combination with SPT... so there would be the delay but now due to restart with Brent in a happier place and I believe, a lower % discount through heritage.

Ortoire is higher impact development / exploration on top of the std program and I really don't think he's only drilling Ortoire because of obligations and would not delay due to SPT lobbying... its been years in planning and he's clearly very excited that it is now happening. The first drill is gas anyway.

Best of luck CERPs.

Not sure that it's correct to say TXP are obliged to proceed with new drills because of minimum work obligations
in4cedros ?

"Paul Baay is indeed singing from same hymn sheet but TXP have not been drilling so far this year and PB recently said regards restarting shortly ...

" Last year’s wells exceeded expectations, and as we now understand them a little better we can high-grade where we are drilling... Also, we do not have any more commitment wells, we have met all of these under our contract, so we can really high-grade now and drill where we want to rather than being dictated to a point to where some of the contracts required us to drill. "

Perhaps he is referring to other commitments (maybe geographical) other than minimum work obligations ?... but I read "we do not have any more commitment wells, we have met all of these under our contract" as meaning that he is now relatively free to decide where and when he wants to drill.

Hoping for news very soon regards the development drills restarting for 2019... would be a nice touch before Ortoire spuds in June.

Paul Baay said recently ...

" Last year’s wells exceeded expectations, and as we now understand them a little better we can high-grade where we are drilling... "

" Also, we do not have any more commitment wells, we have met all of these under our contract, so we can really high-grade now and drill where we want to rather than being dictated to a point to where some of the contracts required us to drill. "

yes but TXP is just a boring, well managed, no BS, keep the shareholders informed and un-shafted, undervalued money making growth machine with near term nothing to see here 95% COS drills that could add an uninspiring 100% plus to production and a not worth bothering with bag or two to the SP ... it's only after that we get a higher risk blow the doors off get giddy ramping chase the multibag rainbow drills.

Meantime we just have to be content with printing cash, steady growth development production re-starting followed by the funded 95% COS spuds in June and Aug ... and who would want to invest in that ?

I've looked into JSE a couple of times and I like it but I can't get the RvR to stack up anywhere near RRE and TXP and it's that underpinned low risk vs upside that does it for me. Will be keeping an eye on it mind.

No point in trying to trade at these levels when you know where the value is at and where it's headed.... especially with Ortoire so close with low risk transformational drills.

Very well managed rise, lovely stuff... and 19 getting hammered in Canada.

Nice price.... good number that :)

it's a very realistic prediction ... TXP will get to 100p and to get there we have to go through 50p so it has to be hit at some point. May even be possible of the back of the first 2 drills with the momentum and sentiment that will bring.

Great news that Gizzy... very, very, very healthy netbacks. Or as Paul Baay said... between $60 and $70 (Brent) makes a very very, very very positive price and cash flow for us ;)

Brent been over 70 for most of April so far so can we add another 'very' ?