Member Info for G_G_G

Still nothing, Zero. What a waste of space. At least my actions are going to push the share price back above 16p if I can rally enough investors to pressure mgt to find a non-dilutive solution to the loan terms we didn't know about. You on the other hand just pop up with absolutely nothing.

CRL, have you sent the email? And what's your holding if you don't mind me asking?

SS, SM, Stas...?

I think between all of us, especially SM's holding, we could get to over 2.5% if all emails are sent. This is the only way we can force a non-dilutive solution to the funding gap. Send the email. We can then work out what to do next if they go ahead with one anyway. Also, please promote to the Discord Group. There's some big holders there sitting on multi-£100k losses. It's in all our interests for a raise not to happen.

Jesus, look at the bot attack this afternoon to take this from 51.5p to 48.2p, which just happens to be a 6-year low. And then flipped by over 5% on a low volume to go the other way. All in an hour. Unbelievable manipulation going on.

Another thing that could be happening is we have a great big iceberg sell sitting at a 50p limit. It would explain the swings around this mid-point. If so, then anything bought near this level is good value until it clears. And if manipulation, then I'd say the purpose is to facilitate a lowball offer. Still nothing from mgt...

Zero, another classic post of yours. Trader, not invested, which is it? You confuse yourself, which I imagine is pretty easy to do.

Tell me, what do you think Baay should do after he sprung the loan terms on the market and wiped close to 50% of our value to get us back to 18-20p in the next 3 months? You can be more than just a nothing, Zero. Here's your chance to share your wisdom. Over to you.

Aye, so you are saying that Baay is lying about having discussions with our friendly banking partner to change the loan terms?

And then you're saying there's no other non-dilutory instruments that can be employed if the funds are called in by the bank? Another thing that Baay said they were looking to do.

You're either as stupid as Zero, which is highly likely based on your previous posts, or you're accusing Baay of lying even more. Don't bother with your response. I think anyone with a brain knows the answer.

Aye, our snake oil salesman CEO is on record stating that they're in talks with our trusted banking partner with regard to changing the loan terms. Now I know it's hard to believe a single word the guy utters, but why would he say this if that wasn't an option? And theres also non-dilutory actions they can take. An offtake agreement. An RBL. I'm sure there are more. They have had months to arrange another option after blindsiding the market, and they still have 2.5 months to go.

So no, it's not something that has to go ahead. He has literally screwed up every single thing possible this year. And before anyone says 'Casc 5', please keep in mind it was meant to be completed and producing in Q2. So it's not a success story given the impact on our cashflow. And we still don't know what it's producing. The amateur mistake of blowing so much time and money on Casc 4, using the wrong drilling mud, was but one executional error. The greatest loss of value comes from Corporate f@ck ups, which he tried to cover up and created an even greater mess. That's on him. So he needs to address it without costing any of us, any more ownership in this company. The very same company that remunerates him alone at over 0.5% of our current mcap, which he doesn't put back into the company.

Send the email folks to pressure mgt to find the best outcome for us all.

Zero, you are without doubt the greatest waste of space I have encountered in any forum. You offer nothing, hence your nickname. But when you do, you tell shareholders they're better not pressuring an incompetent, untrustworthy CEO to not dilute their shareholding even further, after he has overseen £70m losses to their wealth. It's genuinely difficult to find words for just how stupid you happen to be.

I'm a shareholder who owns multiples of your holding. And I'm certainly not content in standing by and letting him take an easy road to diluting my share of this company even further due to his monumental incompetence. The withholding of material information on the raise falling over, and its attachment to the loan terms (for an even greater amount), for 1.5 months I would say is unbelievable if it hadn't happened here. That's what has caused the share price to drop from 20p to 11.5p (as of now). And if he takes the easy road of a raise, lth's are f@cked forever. And you say do nothing. Sums you up really.

We're now comfortably in the 11's. Absolutely shocking mismanagement. If a raise happens down here, the sp is going to stay at this level for a very long time. The $7m in cash will make f@ck all difference to our debt pile, which is what Calamity Baay has said it's for. But it will mean your losses are crystallised and the chances of getting back to 18-20p in the next 12 months are pretty much nil. If Casc 4 & 5 deliver 20mmcf, and the loan terms are addressed in a non-dilutory manner, then 18-20p will be reached with confirmed success at Central.

Over 1% ownership already sent with just three posters. We cannot undo the damage of a raise of that magnitude. And any new holders will no doubt keep Baay in place and be quite happy with 25-35% profit selling at sub 16p. This share is illiquid, so just think about how long it will take to get back above 15p.

SEND THE EMAIL and let me know your holdings. SM, SS, no point agreeing with what I'm saying if you cannot send an email that already written for you, and will save you a fortune if we can pressure mgt to find a non-dilutory solution.

Longfell, that's what we have been led to believe. But the silence from the mgt team whilst 20% of our mcap has been wiped in a week is deafening. Definitely something d@dgy going on. It's just hard to work out what is happening when they are happy to spend so much time talking at industry events, and not to shareholders. Is performance on-track to hit guidance? Do they know if there's a major seller? It would have a horrendous stink if they are staying quiet to allow the sp to be manipulated lower and facilitate a bid. Certainly worst case scenario, but 'leaders' in AIM are without doubt some of the d@dgiest in the developed world. I'm neck deep in TXP, and it's the worst I have been in to date.

Jesus Christ, where is the bottom here? I just picked up 75k shares between 50.4 and 51.2p. And we're still going south. Wtf are mgt doing to address the sp decline? More industry events? If we have a major seller they should do an off-book deal to take their shares. If they're going to miss guidance they need to get ahead of the market. Absolute madness if everything is going according to plan. Either that, or there's something shockingly d@dgy going on with a t/o offer and they're deliberately staying quiet, which would only make matters worse.

Longfell, the company got shafted by a Google Search change 1 year earlier than planned. It basically wiped out most of that division, which happened to be the most important from an ADJ EBITDA perspective. They also f@cked up an acquisition with a shady Israeli outfit for $35m, which is worth 10-15p alone. Combined Adj EBITDA is going to fall from $95m last year to $60-65m this year. They should have circa $80m in Net debt at year end, which is being paid down at $10-15m per half year.

Last set of results mgt stated Search has bottomed and building. And Comparison is scaling. If this happens to be the case then next year we're expected to be looking at decent growth back to $70-75m Adj EBITDA, and then scaling beyond that in future. If all goes according to plan by the end of next year they should have $50m in Net Debt and $70-75m Adj EBITDA. The next set of results will provide a re-rate back to the 65-75p if all is going according to plan, as they stated a couple of months ago.

Subject to 2 x bids last year before the Google change scuttled both. Equivalent value on key multiples with the current reset would be 75-80p. This would obviously climb each year as debt is paid down. The debate going on here is whether the sp is being manipulated for a d@dgy low-ball take private. Sadly the mgt team are content talking at industry events, but not to investors, which in itself could be a signal.

Either way the company is profitable, has cut costs dramatically, written of the acquisition, absorbed one-off costs, and are claiming to have bottomed. So growth looks nailed on for the future. But ugly reading from 2024 to 2025.

Txpir@touchstoneexploration.com

paul.baay@touchstoneexploration.com

Johno, that's great news. Combined to date, we have emails that have been sent accounting for over 1% ownership of the company.

Johno - 2.5m shares

GGG - 1.5m shares

Nav - 180k shares

crl - ???

Stas - ???

SS, SM, you guys sent the email? Does anyone know if the Discord Group are aware of these emails? The more sent, the greater the pressure on mgt to find an adequate solution that doesn't disadvantage lth's any further. They need to understand the consequences on us, and them, if they go down an easy dilutive route. As mentioned, I'll cease to push this agenda if they find a non-dilutive solution. Otherwise, I'll do my best to rally an EGM or ensure we vote as one at the next AGM. What has transpired is unacceptable performance and shareholder communication, resulting in £70m of shareholder money being destroyed in just the last year. And it will stay that way for some time if another raise goes through.

Has anyone else sent the email yet? Your holdings?

Lukee, you beat me to it. If you use:

Worst case scenario:

- $55m Adj EBITDA and $85m Net Debt = 4.5x EV:EBITDA.

Average case scenario:

- $60m Adj EBITDA and $80m Net Debt = 4.05x EV:EBITDA

The last t/o off was about 5.5x at £1.25. The same multiple would have us at 75-80p for a t/o. If the turnaround is confirmed, and debt is down to $80m, then an offer like that would be robbery.

Those 2 x 25k & 1 x 15k clips are me btw. The sp cannot stay at this level. I also believe we're getting played for a lowball t/o. If we drop back to the 50-51p range I'll get some more.

The share price is now firmly in the 11's. With a non-dilutive solution and 20mmcf from Casc 4 & 5, plus confirmation Central is being drilled, the sp will be 17-20p. With a dilutive raise and all these things, it will be sub 15p for a year, and much slower to climb due to value being srpead across another 20% of shares.

It's just an email (for now). A raise or other form of dilution is what we MUST STOP from happening. As mentioned, I have 1.5m shares, and sitting on losses now in excess of £100k. And I'm one of the lucky ones. Share the email with Discord, and let's get them landing in IR and Baay's inbox. The difference to the sp by getting the loan terms addressed in a way that won't impact our ownership will be huge. The tombstone will be removed with no additional damage. It's up to you if you want to do something, or sit back and deal with your losses for a longer period of time.

Great, thanks Nav. Would you mind sharing your holding and losses?

CRL, don't worry the content of the email is all that has been sent from my end, not the language you are used to here.

And everyone, please ensure your name is included (on the email).

Others, you can sit back and do nothing. This email is solely about heading off a raise that will keep the share price depressed for an extended period of time. And, result in 20% less sp appreciation in future due to the extra shares being issued. They have plenty of time. There are other non-dilutive solutions. Your pressure needs to be felt, otherwise Baay will likely take the easy option. Also, if Casc 5 is a success they will have extra leverage with the bank.

And if they do it anyway, well then we can look at next steps to try and push Baay. His leadership been nothing other than disastrous for our wealth. And I refuse to believe the O&G sectors in Canada and the US don't have far more talented senior leaders available for an $800k remuneration.

CRL, Nav, thanks for sending. Stas, have you sent?

SS, what are you going to do? I know you agree with the content. You can hate the way I post, but still do something +ve for defending our wealth. Same with you Johno and SirMark. It's just an email pushing them away from an easy raise for someone else to profit from their failures.

johno, i take it that you're not going to send the email...?

as for your response, what i'm proposing is solely to avert a bargain basement raise that will cripple the share price for years. it will allow another investor to come in and profit from the £600k you have invested here over the years, and £300k of my money. how on earth do you think this is acceptable when you have agreed the share price destruction has been caused by corporate f@ck ups at a senior level? and you feel it's fine for lth's to pay again for these errors by letting mgt take an easy option and dilute your £600k by another 20%. they have options at their disposal that won't result in more lth wealth destruction. the point of the email is to send a clear message to calamity baay that one of those options must be the solution. and not another raise at 11-12p. the freeloading senior mgt team finally participating at such sickening lows they have created is most certainly not a good thing. it's bordering on immoral after the damage caused by baay's incompetence. they should find a non-dilutive solution. allow the share price to return to above 16p, and then buy shares to help us back to 20p. anything else would be low-life behaviour.

as for casc 4, 5 and central coming online. well casc 5 we are praying to be good, and it is yet to be confirmed. casc 4 they have screwed up twice. blew apart timings and cash flow for the year. blew $3-4m trying to finish it, and it's still compromised. i've stated here that calamity baay has already given his dog ate my homework excuse, and we'll be lucky to get 5mmcf. so let's see if i'm right, but it's hardly something to count on. and central will be hooked up if we're lucky in january, after the equity component deadline has expired. so casc 5 is the only thing that you can rely on as being good news this year, and will not help us back over 15p.

also, baay isn't drilling or hooking up wells. he isn't optimising production. he sits in an office making bad, delayed decisions. he needs to focus on fixing the equity tombstone hanging on the sp, without diluting our shareholding or ownership any further. one job for the pr@t to do. the share price with casc 5 and a ****ty casc 4 will still hit 16-18p if they find a non-dilutive solution. but with another 20% of shares printed and the same flow rates, we will be sitting under 15p for a year. and every new well will have a 20% diluted impact on the share price. what do you want to happen? if you want the solution that will get your money back, then send the email. don't be apathetic. folks are buying in the 11's now. and it's solely down to the raise hanging over our heads.

bottom line, your wealth, and mine, will be 20% worse off forever if he raises at 11-12p. but he'll still get his $800k remuneration for f@cking lth's out of tens of millions of pounds in wealth. i'll quit these attacks only if he fixes the equity mess without causing us any more pain.

anyone sent the email y

YHAL, the silence from mgt is deafening, isn't it?

Mgt spend all this time jetting around and talking at industry events, and when the share price touches 5 year lows, they still don't provide an update to the market on their loose guidance, and progress against key divisions that investors want to know about. You could almost say that if a bid arrives they are facilitating it by saying nothing.

Kestrel has a holding to easily manipulate the share price with just 1% of what they own. They'll most certainly know how the company is performing. If the turnaround has indeed kicked in, we're a sitting duck for a derisory offer. And if they're not involved, well wtf are they doing sitting back and saying nothing as their portfolio implodes on the back of the TIG share price?

Alternatively there's a profit warning likely to happen. Outsiders have found out. It's just mgt have dragged their feet in updating the market. The issue when outsiders find out is they drag down the share price, and then the profit warning drags it further. You end up getting hit twice. This happened last year with the profit warning. Let's hope it isn't happening again.

Either way, mgt should recognise their responsibilities to ALL shareholders and provide an update on performance.

SS, regardless of our spats, you know what I'm saying to be true. The message is there to be sent. I'm not sure what your holding and losses happen to be, but I imagine you also have been royally screwed by Baay over the years. Another raise will be worse than ever before, as we'll be anchored to this level for ages, and any success will be sold into from the mass dilution event by the new holders. I've been here before on numerous occasions, and it always plays out the same way. I also made a lot of money from i3e when they did this (twice), however, on both occasions those raises were for incredible producing assets, and 180m 2P reserves during pandemic lows. So brilliant move by them, and yet it took a year for the sp to move upwards following both mass dilution events.

Send the email folks. And as I said, if he goes ahead with a raise, then I'll forward how an FCA complaint can be made for the deliberate withholding and omission of material information leading to what will be the final nail in our coffin. That will be the next step if he doesn't make amends for his f@ck ups and find a non-dilutive solution.

Dunder, Stas, Aligator, I'm assuming you will forward this email. Can you please confirm when done, so I can keep a record? Your holding and losses would also help.

Johno, SirMark, regardless of whether you agree with me on certain things, your shareholdings and significant losses are far greater than anyone on this board. The bottom line is you will not get your money back for a very long time if they give 20% of the company to people who will benefit from your money being employed over the years by a grossly incompetent and untrustworthy CEO. These emails are to communicate that the easy option, where he f@cks lth's like yourselves and myself, must not be taken. You can like Calamity Baay. You can say 'it's not all his fault' for the litany of Corporate failures and misleading statements over the past year. But if he raises again at 12p, your wealth is f@cked for a very long time. Baay and his board of muppets need to find a non-dilutive solution to the mess of their making. And not make us pay.

Zero, you really are a waste of space. You and Spud need not pledge your lunch money holdings. This is for those who have lost small fortunes on the back of Baay's ineptitude and deceit, not lunch money.

Those on Discord, please let those investors know they can be heard, and to simply cut and paste what has been written and send to the emails provided. This is the first step, and hopefully the clowns find a solution that doesn't involve more dilution and shareholder suffering. The !diots amongst us will no doubt catch-up when the share price is anchored to 12p for the next 6-12 months on the magnitude of another raise at this level. To say nothing is as much as giving Calamity Baay permission to screw you over far worse than ever before.

As for mgt buying in a raise, the thought of those freeloaders finally pledging money to the company they have crashed to 11-12p, makes me want to hop a plane to Trin. They have overseen £70m of shareholder losses in a year. And they have done nothing to try and stem those losses by investing their money into this company in its downward spiral. To do so now would be plumbing a new low for them.

Let me know when you've sent the email.

Oldpro, Kestrel would obviously be informed, even if Max Royde wasn't on the board.

I agree it could be simple manipulation by bots in a low-volume, shaky macro environment, which has been mentioned. But the question remains, why are Kestrel not pushing for more information to be shared with the market if it can help to minimise such manipulation? It's in their interests to do so, as they could be getting a cash call if it further deteriorates. And that would be catastrophic for here, and for them.

I agree there's also the chance of some type of corporate action, but that's the point being made about why manipulation may be happening. And why Kestrel may be happy for it to occur. If there's a t/o, and Kestrel get to keep their holding in the company like the previous offer, then what difference does it make for them if one lands between 75-80p? The value of their holding is immediately reset. And they get to share ownership of the same company with a well-capitalised partner, which is in turnaround and paying down debt in a meaningful manner each half year. There was a bid at £1.25 less than 12 months ago. I think these guys could comfortably get away the same offer for 75-80p. That's the equivalent of the last offer when you account for a decrease in Adj EBITDA to $60-65m, but also a decrease of $20-25m in Net Debt to $80-85m. An equivalent offer, but with less risk if the turnaround of Search, and Comparison scaling, can be demonstrated. Costs have been meaningfully reduced. One-off costs have been absorbed. Debt will be down to circa $80m from $105m. It would be an absolute steal even at 80p.

This is why I don't understand why the company isn't providing more information when Kestrel should be screaming for it, providing they are not involved in some way in the reasoning behind any manipulation.

The share price should be in the 70's at a minimum if guidance is going to be met. The DIS division is worth 55-65p alone. And that's on fairly conservative multiples.

So I come back to manipulation definitely happening. But to what end? And to whose benefit?

Unless, of course, we're about to get a profit warning, which would give way to a whole other set of issues. Hopefully, an interview or statement from the company tomorrow, or early next week. As I've said, if Michael can jet around giving industry speeches, then he can do a lot more speaking to shareholders, who have suffered greatly this past year.

Sorry last post, if you could add on more thing if you send the email to Calamity Baay and IR. And that's how much money you have lost.

So sign the email , ,

It will help to highlight how that £70m of our money has been lost across so many normal people's wealth.

And here, just to confirm that you sent the email (moniker). Your shareholding, and your loss.

This is it guys. If they get a barrage of emails then we will at least have landed a very strong message. If they do it anyway, I'll investigate how an EGM can be called. A few people here have been involved in the past, so I know it can be done. And, I'll post how a complaint to the FCA can be logged for what has transpired, causing our crystallised losses, as I'm quite confident the wilful withholding of material information about the raise funds and loan dependency, has broken a number of rules.

The point of all this is to head off a dilutive solution. Otherwise is your money that will not come back for a very long time. The difference will be a sp of 12p versus 16-18p almost immediately. And a further diluted share count will result in a sp that will always lag what could have been had they found a non-dilutive solution. They have the time. They supposedly have a 'close and trusted banking partner'. And they most certainly have a responsibility to us after everything that has transpired.

If they find a non-dilutive solution to the loan terms that we knew nothing about, then I'll cease promoting this action and let them get on with their drilling program. So if you hate my posting, well, there's another reason to send the email. And if you do hate my posting, the end result is to encourage this action. Regardless of style, the content of what has happened IS REAL, and we have a chance to pressure/prevent it from happening.

Please email away. And confirm your shareholding and losses.