Member Info for dunderhead

Lol Stas, don't be rude.

You are completely missing the obvious point either intentionally or obtusely and I don't think you are the latter, so am surprised at your literal reply!

Please indicate to me where TXP have been at all "focused" both strategically and operationally and I will happily dismantle for you! I don't care if they (supposedly, lol) are a small nimble "local" (with all strategic decisions made in good old Calgary!) player, if they have not exhibited any of this behaviour, it is all meaningless, IMHO.

We can start at drilling ops, construction ops, communication ops, corporate acquisitions, where do you want to begin?

I am myself extremely busy at moment and have only been able to reply so quickly, as am waiting for a business meeting this morning at 09.09 and have now neglected some busy prep time but, will try and reply back as soon as possible over next few days!

Also, whoever said there was anything wrong with CB or that it was complicated? If you re read my posts I have been supportive of this very obvious acquisition but as simple as it is, I (and probably the market, lol what narket a few traders now, lol) are nervous about it because for all the excellent top quartile processes, procedures and staff that come with it, TXP will probably find some way of messing it up because that is what they seem to have done with virtually everything else they have touched, bar the Casca discovery, IMHO.

I obviously hope this is finally the corner turning which is the only reason for holding as I will hopefully need CGT losses to offset the limited company vehicle I am very nearly selling hopefully in the next two weeks, which should have crystallised in last tax year. So whilst gge delay on this has I'd me off it us somewhat fortuitous as it now enables me to hold TXP for the next tax year, in case if all the so boring why don't you sell replies, lol!!

All IMHO dyor.

I read leapings reference to additional debt of 38 mill to be in excess of the "wall of cash", Gonzo was referring to, so it made sense to me in that context?!

Ie wall of cash, NO debt?!

Stas has some very useful points to make but one i did find particularly funny, which was TXP, is "focussed".

Gonzo focused?! Lol, the only evidence I've seen of this is on his FT250 salary and oversized, under experienced BoD remuneration?!

This is why the SP is in such a mess and a pretty constant theme I've been right on for years now, IMHO.

They had what I thought were excellent assets, now down graded to good at best, but a poor BoD team and I personally think the market agrees with this position and itcwill take time to change that reality.

As ever all IMHO and DYOR.

That is not to say, this does not appear an excellent high risk proposition at this price for "newcomers " but I emphasise the risk reference and should be purchased with that weighting and expectation in mind within expectations, again all IMHO.

Best of luck all.

Hi jonoo I absolutely get all the points and if indeed all correct (and suitably risked) this does seem remarkably good value, so there must be some other reason why the market values TXP at this price?

That's what I'm looking for, so can you elucudate on that particular question?

Don't take non reply as rudeness or implicit acceptance, as I may be off out soon anyways. Best of luck all.

Joniooo, all good points there and I certainly do not include myself as "bitter" as I've been "realistic" since 155p (so I could hardly have been bitter at that price surely?!) however, it must be said why are we such amazing value at or around 20p ? Would you care to proffer an opinion on that please?

SS thank you kind sir!!

Aye / SS, the share price is "here" because of management incompetence, IMHO.

Just because they land CB certainly does not mean that will stop, LOL.

Hence nobody really knows where the share price will be but, I'll tell you one thing, it will not be £7.50 or errr 20cad!!

Do you remember those halcyon days, where everyone slapped each others backs and laughed at idiots who hadnt a clue......

Errrr SS how about some recognition for me, I started "complaining" around 155p and you have criticised me personally many times for my posts being all about the dunders show?

Have some grace man!

No SS I said I was likely to buy a few more over the next few days.

To be clear this is a gamble purchase as I am leaving UK this year and will not be carrying on with anything uk related after that, except possibly maintaining one small business. To be clear in longer term the remuneration and LTIP packages need sorting out as well as a restriction on ability to issue new shares, for any foolhardy exploration wells or acquisition in the future. IMHO.

Best of luck all.

Great news. Very late in the day but fair enough at long last.

Now a review of LTIPs and general remuneration and I'll be "happy".

Good points stas re transformational asset examples.

I also held SQZ (and continue to), TCW, fantastic chap (from memory) going back to monument o&g days. Brilliant management team, who rarely made any mistakes but I'd have diversified away from N Sea by now and think TCW would have as well?

I3E also held, not same calibre as SQZ, imho, f'ed up N sea then saved themselves with good acquisition in Canads (where I purchased) but didn't seem to have their hearts in the game longer term?

I also held RRE, again brilliant management team like SQZ imho.

KIST is also excellent company.(RRE re born),

My concerns are that TXP "management" to date, aren't even in the same town, let alone building as the equivalent at SQZ and RRE. They "may" be in same building as I3E but don't really think so either and, certainly not the same room!

We shall see, but I personally think the revaluation at TXP will he more difficult to achieve?

Hope I'm wrong and do see reasonable high risk value at this price and, a potential three bag from here but, in all honesty, I will not profit that much from that and the opportunity cost for me, truly has been very high, holding here. I "sense" the same for a lot of (other TXP) investors who may well look to exit "out of relief" and not sure what impact that will have on revaluation? I hope there are a lot of potential investors waiting to "see" what will happen on the sidelines, which will compensate for this situation.

If I didn't hold so many already, I would probably happily purchase up to 500k of these (high risk category and higher than I initially originally thought!) shares, as a pure gamble at this price, so can easily see your POV and I may be buying a "few" more (further averaging down!) in next few days!

As ever all IMHO, DYOR and best of luck all.

Peer group doing far better, they are nowhere near multi year lows (except JSE somewhat surprisingly) so have been slightly higher affected short term but nothing at all, compared to 3-5 year timeline Sturmy.

Best of luck all, hopefully incoming news will fully offset recent falls?

It's a month later unless buying in a tax free "wrapper". IMHO.

Stas I've worked on countless deals (many of which didn't crystallise in the end as well) so fully take onboard what you are saying but generally speaking the level of third party complexity for this, isn't that much greater than for multi batch onshore exploration development wells feeding into existing or newly built infra structure thereof, as well, as all the same relevant government agencies will be part of that process too and respectfully it is just part and parcel of "the business". However, let's leave it at that because, as well again, respectfully, I've never worked in such a small deal anyway, so we are probably just talking from differing viewpoints of which we both probably will not move far!!

Re Discord, apologies, what I meant was this particular potential acquisition was being discussed ages and ages ago and don't know if it were suggested to the BoD but probably was, however am sure it would always have been on BoD radar post Casca discovery, IMHO!!

Don't take non reply as rudeness but as pointed out as well to me, I do spend far too long posting about TXP and am very busy temporarily elsewhere at moment.

Best of luck all!!

Apologies ffs, point 7 should have said

..."I really follow AND APPRECIATE your excellent..."

I do apologise stas and don't want to apoear be dick swinging here regarding some of my comments but, respectfully it's not really that complicated, IMHO.

1. It's the cost of an exploration well.

2. Whilst I certainly understand that's doesn't mean it isn't complicated it goes "some" way to justifying that concept. If it's so complicated for relatively small consideration we need to be questioning is it right for TXP, "considering".

3. It is small and relatively somple regardless of the implications for TXP, as they are buying operated single partner, likely upper quartile quality assets, with top grade design, processes and procedures thrown in.

4. What may become complicated is how they leverage this potentially excellent and important asset for TXP.

5. The TRIN timing and methodology was so bad, I thought (in an obvious overly analytical way that I often do!) it was merely to bring out competition and get them to "overly " (excuse repetition) leverage on that, in case such "competition" became an irritant, in the real deal, which was for BG assets.

6. Again absolutely respectfully (and I know you weren't saying this as well but thought I'd add anyway..) it wasn't a stroke of genius either, as Discord posters have been shouting for this, since err, the start of TXP Discord eons ago!

7. However I really follow your excellent summary regarding this acquisition and also feel Ali was "pointing" in that direction as well but certainly not as detailed as yours!!

Best of luck all.

Stas I follow exactly all your points and may add the lender could insist on certain hedging conditions as well to further complicated matters but, in these circumstances I would not expect that to be the case.

I also support some of Alis's points as well.

The basic crux is, IMHO. that the market does not trust Gonzo and his pals (the only reason I can understand why there is such an obviously over sized, over paid relatively inexperienced BoD in place?) to land effectively and efficiently, a simple, small deal, over the line, in line with their initial, definitely NOT onerous (considering pre work already done?) time lines?!

That is the issue and why people like Ali are concerned, especially after the ridiculous TRIN debacle, which obviously illustrated they do NOT know what they are doing. from initial consideration sourcing through to full deal completion.

Re TRIN example above, the one good thing to come from that being (I am assuming) this is one of the main reason(s) why TXP had to finally admit their absolutely preposterous production profiles forecasting, was very flawed, being simply wrong and why they are providing more (potentially) realistic estimated values now?! Also IMHO.

I "expect" this deal to land next week officially but, who knows what impact that will have on the share price considering the real reasons why it is such "good value" now and, those concerns will remain for some time to come. Again IMHO. Best of luck all.

Guys I'm certainly not making a fuss about it but will let the "free bb" know when I sell. Not specific trades of course as they can easily get tracked back to accounts.

Rest assured SM I have very good reasons for treasuring my anonymity however to save "space" on here will be putting you on filter now and yes lol, I'm sure you don't care!!

sm let me very very clear. why would i care for one second what anonymous people on a free bb think of me?!

i have been very very "lucky" in life (but taken a lot of personal risk to achieve this) and used to mention some of my earnings many years ago, on the free bbs and got called a **** (rightly) for it. ever since then i have been much more guarded.

i am very happy to offset losses here with gains elsewhere and do you think that shares are all i have, lol?!

as i say, continue to speculate what you like about me and if you think i am a dreamer, all well and good, carry on, i dont care.

i hold significant shares elsewhere on other e&p companies and am a admittedly a little fixated here because i can smell bs from a mile away and should start to act upon that (after 30 years investing, lol).

if you want another laugh go and look at iog where i think i lost around £350 to £400k also fully "admitted" and documented at the time as spotted bs there and didn't act upon that too!! to suffer losses like that and this, think about what i am also making "elsewhere", but equally i'd have twats like you, calling me a dreamer about such gains so i simply don’t bother.

i'll let you guys know, as and when i sell (long term) here, rest assured.

ps bad news about ej dying today.

SM of course you can't help me mate, you have no experience at all of e&p and when have I ever asked for your advice?!

I repeat for the levels of debt and the money spent on exploration, if it were not for the obvious Shell acquisition, this company would still be very unproven.

Cas 3 was a "surprise".

Let's hope the three upcoming Casca wells prove to be the solid fried gold, that everyone has told me is 100% banged on.

Also pleae stop comparing your investment strategies with mine, I am still a holder here and can happily lose everything, however in hindsight, I should have sold at or around £1.50 when I first started "moaning"!

As ever all IMHO, DYOR.

Read what I said, on what they have built.

Not on what they will acquire from Shell. The banks are happy to lend on that.

That is good value, IMHO.