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Yes definitely worth keeping an eye on Canada, seems swamped with Bot trades today which I have noticed on other TSX listing. I think the UK leads Canada which is why they listed here, but would be reassuring if the recent tick up over their leads to a higher close for them.

Shows the MM were under pressure into the close which level 2 showed more clearly, this resulted in a 15.5p close which sets things up nicely tomorrow.

I agree, look at Canada, they have had a decent open today and should put us in the 14p’s, even then not sure what this is not high teens already.

I really don’t understand why the market does not see the significance of this, as I commented earlier PB states this is not only significant for TXP but for T&T, to have an asset like this on shore. Phenomenal.

We may have been waiting for Canada to open, starting to move up now.

Surprised by the need for a second price monitoring period with an uncrossing trade given the current volume.

Starting to move again, I have seen days like this on other stock where you start question you version of reality. My version of reality thought the open this morning was cheap.

The day is young, Canada is about to open and it seems the market is only just working out the significance. The afternoon may be a lot more entertaining.

I would have expected this move for the production I was expecting 600 bopdd, as people realise it is very commercial and a good addition but not a game. This imho is a game changer.

Totally agree, can’t believe you can buy at the same price as last week... I would not have bought last week as I was expecting a fraction of what they announced today.

Added second chunk, amazed to be getting in at these prices. I have been a cautious on TXP, things needed to go well with the drill program, which it most certainly has imho. If this had come in line with what I was expecting I would have continued to have watched TXP for the later wells.

I bought for the first time having watched since TXP came to the market, This is transformational for TXP, well done PB and team.

Great post NTMY and you are absolutely right you need to have a view on oil if you are investing in AIM oilers atm. Your view is very in tune with why the market is pricing oil as it is.

My view is the market is pricing oil incorrectly. It does not help that the data they follow is consistently wrong, such as the EIA which is mostly keenly followed. Goehrng & Rozencwajg have just released their latest commodity report that goes into the oil market in depth. The EIA have significantly underestimated demand for 8 out of the last 9 years creating missing barrels of oil of nearly 1mbopd! Also they have consistently over estimated US supply (also contributing to the massive number of missing barrels).

There are a number of dynamics coming into play in the US that suggest oil is peaking, hitting issues with financing, parent child and drilling out of their tier 1 production. However would $80 WTI help that, I suspect so but will it make much of a dent in the 1.5m bopd year growth in demand. Also few producers in the world have a switch they can flick to rapidly increase demand if needed these days.

Also with the Saudi attack, they did an excellent job of smoothing through the problem (drawing down on their global network of storage) but some respected commentators I follow said the real effects would be felt a few month later. This is why I feel oil is looking so strong atm (look at yesterday’s reversal). So I am bullish on oil short and long term, just not so sure about the medium term :-).

Jfk9, so far there is little evidence that the demand for oil is slowing anytime soon. If you remember in 2018 when oil fell from $75 to $45 because of weakening global demand (that was the narrative anyway)

“For 2018, the Review reported that the world set a new oil consumption record of 99.8 million BPD, which is the ninth straight year global oil demand has increased. Oil demand in 2018 grew by 1.5%, ahead of the decade-long average of 1.2%.”

So in year when we were told the price is low because of low globally demand it grew ahead of the long term average...

Global population is growing and EV adoption will be slower than many are predicting (and this is from so one who worked in the car industry and is looking forward to owning my own electric vehicle). It would not surprise me if oil consumption continued to grow for decades before peak demand is reached.

https://www.thisismoney.co.uk/money/investing/article-7462115/amp/PUNT-WEEK-Oil-asset-company-Trinity-look-set-increase-profitability.html

Thanks JFK9, that really helps my understanding for of the exciting prospect of HAWs and the message Bruce and Jeremy are trying to get across about mitigating SPT. The turbo year of production from Haws and potentially even more from horizontal wells duration the first year when their is no royalties may be the way to crack the conundrum of the T&T fiscal regime!

From the video Bruce mentions we have an 8 well program but if the HAW comes in as hoped they will adapt the drill program and switch to all HAW, interesting few months ahead.

Interview with Bruce

Https://youtu.be/xb8GL1tCWP0

Let’s hope Bruce delivers the optimism in Malcy’s latest bucket list update.

https://www.malcysblog.com/2019/08/bucket-list-6-month-update/

JFK9 like MN this rally felt like me that had legs yet you called it spot on. It looks to me there is still a chunky buyer out there so Impersonally won’t be selling to them.