Member Info for davidblack

$20 potential assuming a final 250m shares inc options etc?

Too much gas for that, more likely explode.

So he doesn’t think he can use all the cash.

I bet the exploration and development people will work very hard to prove him wrong.

Also that big drill will need to kept busy.

Malcolm Shaw at Hydra will no doubt comment very positively and that will set the tone their for the brokers.

So expect non retail Canadian buying over the coming weeks as small fund managers pinch Malcolm’s thoughts and position it as their own! All to the good though.

Lovely nonsense to cheer the world up.

Great stuff.

Norb

RNS released on the 28th October altered the plans

http://uk.advfn.com/stock-market/london/touchstone-exploration-TXP/share-news/Touchstone-Exploration-Inc-OPERATIONAL-UPDATE-AND/83557376

“As a result of the advancement of the Cascadura Deep-1 well, the Company is designing a program to commence testing of the Chinook-1 well prior to the end of 2020. The program includes coordinating the mobilization of the test equipment and service rig to begin testing immediately upon casing the Cascadura Deep-1 well. This expectation is subject to a number of uncertainties, including receipt of required regulatory approvals, weather, and drilling operations at Cascadura Deep-1.”

The problem is the last drill only went down to the gas zone as it ran out of pipe, so if there was oil below that rock i it’s going to require the biggest rig that’s ever been on the island.

Lovely recycling ahead of Billingham after a very strong rise from 0.50p area.
Had to happen and nice to see it after so many uptick days.

Just traders who thought the recent uptick meant Bellingham was about to be announced and are disappointed with the COO announcement.

Billingham will no doubt turn up when all the lawyers have extracted their maximum coin.

As to this mornings announcement it may be more important than Billingham though not quite so “Sexy.” It speaks of a real ambition to grow the company into something substantial. That’s probably a bigger event but not for the traders who are off to their next transaction elsewhere.

Also the spread here is often tighter here than you find with the 80p shares.

And whilst they could do a 100 to 1 consolidation what happens when this rises 20 times, then they split? Why chop down all the trees for the paperwork or pay lawyers?

Much better to save the trees but recycle the lawyers as a high fat feed energy into one of their operating sites?

Only your second post? Did you have a previous name?

The heart of the issue prior to the last 9 months is EQT was brought to the market too early and the directors were stuck with technologies that were still being developed and then needed road tested.

By last year that was substantially done but the old CEO didn’t have the credibility because of previous false dawns to move the company forward.

In September 2019 David Palumbo was appointed by the largest shareholder to go out and sort the company. He spent 6 months cleaning up the liabilities and then started to promote the stock so as to get a fund raising away and clean up the liabilities and put £10m in the till to deliver on the promises that had been said a decade ago.

It’s a familiar story of stocks coming to Aim too early and public shareholders having to fund R&D development whilst believing it’s near commercial.

So be thankful for the price now as if this had been done properly it would be 10p not sub 1p.

The drill should be in the heart of the Deep prospect target rock. Fingers crossed it’s nice and gassy!

That last bit is why you don’t cut and paste!

Anyway I am sure you take the point that TXP is probably in a closed period for comments until a TSX Sedar news release.

Just for the record I am aware XM works for TXP but by the looks of his social media the guy is busy.

On TXP silence as the hole is in the zone commentary by anyone connected to the company needs to comply with TSX rules, so that means get be the explanation part two.

He is actually a university lecturer and his last four or five posts relate to his students and professional training which he clearly is committed to.

So maybe don’t read too much into his TXP silence and in any case he is not likely to be busy re the drilling.

Luckily Shell no longer own 100% of Point Lisa, they have a bunch of minority partners so the most likely take over group would be the consortium to avoid “Transfer Pricing” issues. Thankfully getting a herd of cats to agree about anything is not easy so TXP may well get a full day price by the time they get their act together.

Now a bid from the Canadian giant Methanex is another thing! They too need gas.

10600 feet divided by 45 days is not 300 feet a day!

It’s 235 feet so around 7300 feet drilled and 3600 to go.

PB’s email address? If you have it.

Many thanks

My thoughts go to optioning the acreage at depth below say 2,000 feet and leaving BPC with the cashflow which they would be loathed to part with.

That wouldn’t be too costly and BPC isn’t going to have funds for that sort of exploration for years. So a win win.