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Nothing is going to happen on CB until TXP secures the loan financing from Republic Bank. According to the RNS, TXP is in "advanced negotiations to secure funding to finance the acquisition and development of the Proposed Acquisition through two additional six-year term loan facilities totaling $38.2 million. An amended loan agreement and related security documents are currently being drafted."

This additional loan funding was first referenced in the RNS dated 13 December. At that point, one could logically assume that a formal approach to Republic Bank for additional loan finance had been made by TXP at least weeks (if not months) before the RNS. Quite why two additional loans are required is beyond me as it just doubles the work, documentation, etc.

So here we are now, probably in the 6th month of this negotiating process, being told that the company is still negotiating an amended loan agreement and security documents. As a former oil and gas banker, I simply don't understand this timetable. I negotiated and signed very large (hundreds of US$ millions) and complicated hydrocarbon project loans with multiple borrowers and multiple lenders in timetables shorter than 6 months. Maybe it is the "mañana" attitude of Republic Bank which is in play here but what TXP seeks its investors to accept is frankly unprofessional. This will not be lost on the market.

Johno, I think you were born in the wrong century and the wrong civilisation. You strike me as being something akin to Attilla the Hun - no prisoners and all that.

Having got that off my chest, I haveJust returned from an extended sailing voyage with little internet and now seen the year end review RNS which shows production up, sales up, funds flow up, net earnings versus a net loss in 2023 and other positives such as CB financing being in advanced stages... but sp down. What are your thoughts? Could this suggest that, for example, the CB deal has already been discounted within the sp?

There is just something not right with what is going on here. Aside from its appalling PR, the company is clearly making progress but its market cap is going backwards. Surely the sp cannot continue in this vein?

Happy for you to have the last word Ss. I don't need to see anything further.

As I said before Ss, do you actually read what you write.

Given your acidity, one can only presume that you, like many of us, are underwater on this stock. Let’s collectively hope we see the hoped for recovery soon.

Ss, Do you actually read what you type? It is, in the simplest terms I can muster, plain garbage.

I am a large shareholder in TXP as I suspect dunderhead is too. Like GGG, we are all frustrated, if not angry, at what has occurred through the years, resulting right now in the lowest sp in 5 years. Are you happy to just leave this at it is and let PB and his hapless colleagues continue or do you think, like the vast majority of shareholders, that something needs to said to him and the BOD?

Frankly, your meanderings are humiliating, you just don't realise that.

Try Googling the word gamble. Maybe that will help.

Oh mighty soothsayer Ss, Consider what you just said. All companies with investors gamble that money. They have no guarantee that it will be successful so that is gambling. Or do I need to explain further.

Try and remove yourself from your own rear end from time to time, it will help you think logically.

Hardy, I am just incredulous that someone would sell volume at this price, given all that has yet to happen, unless they had privileged info…

As for putting infrastructure in place for no reason, when you are gambling other people’s money it is a lot easier.

Interesting Ss. I put out a similar critical comment and you are all over it like a cheap suit.

Just exactly what are your thoughts on the situation, with sp now back to that seen in December and, before that, early 2020?

So much for all the market analysis and speculation regarding rerates and the rest. Just shows who is controlling the market.

PB shouting from the rooftops about massive reservoirs and walls of cash - never materialised

Trinity - failed

Cascadura - not the production rates they thought it would be

Reserves - effectively declined each year (to my knowledge)

Central Block - in negotiation

Director share purchases outside options - limited, if any

Board of directors - large and not functioning efficiently

Institutional shareholdings - none of note

Shareholder/owner interests referenced by PB or any TXP announcement - never

When one considers the above you can begin to understand why the sp is where it is, why there are no big ticket investors and why this is probably perceived as a pariah stock by the market. At the bottom line, PB, his board colleagues and the executive - all receiving nice fees or large salaries but not investing heavily in the company - need to be reminded of their primary fiduciary duty to shareholders. This all needs to be raised aggressively by us at the AGM, which will hopefully take place ca late June.

Sturm, Anyone holding TXP stock and facing such calls or funding requirements would clearly be better off raising funds through another route - i.e. a loan or the sale of other assets. Selling TXP at this time is simply dissolving the future potential of the equity which could be substantial.

ps houses cost a lot more now than 50 years ago...

Ss, Thanks. However, that just throws up another question, who would be selling at this time and this price with all the perceived potential inherent in the company?

An explanation as to why the sp, despite a host of buyers today, has slipped back from yesterday's close? While I can appreciate that the market can't have been too impressed with yet another report confirming that reserves have declined, my simple mind led me to believe that the buying frenzy would actually push the sp northwards.

Dh, Had a laugh at your reference to "tears" as I will freely admit I have suffered a few less than successful investments in recent years, including IOG! I will look into the discord site as I am a sizeable shareholder in TXP (sadly).

Steady on guys! I like you, yes. I love you, that is something else...

Ps Can't wait for the castigate comments from the usual suspects...

When you analyse PB's 30 minute interview, you realise that there was a lot of fluff and not much substance. As for, if I recall correctly, up to 10 wells this year, what am I missing? They have not even completed the current well and, again, if I recall correctly, have already had equipment issues.

What mystifies me is that, during the entire 30 minutes (and, indeed, in just about every interview/presentation he has given), PB never mentioned the company's owners in terms of recognising their plight or seeking to give some reassurance. This simply reinforces my view that the BoD and senior executives don't give a rat's a*se about the shareholders.

Last year Year End Reserves data was published on 1 March and Annual Financial & Operating results were published on 21 March.

Share your views Stas but a lot has to fall into place to get there. Meanwhile, who knows what is going on behind the scenes. What is the status of the well? Have they had a problem during drilling or with equipment? How are negotiations progressing on the central block acquisition? Has their bank confirmed its commitment to provide the funding? Any chance shareholders, the owners of the company, could be brought up to speed on what's happening?

Interesting data and thoughts Stas. However, it is the lack of trading volume which is now the concern - no/low trading volume equals further pressure on the sp and diminishing appetite to invest by the MM's and II's. We could eventually be looking at share buybacks or dividends to recover our own shareholdings simply because the sp has gone nowhere.