Member Info for highlandmatt

Alligator - currently drilling Royston (massive gas prospect). Coho (small gas discovery) on stream next couple of months. Cascadura (large gas discovery) connection next year. Fixed price contract for gas, so no uplift there.

Fixed price contract here. Execution risk (delays in starting production) in play at present.

It's on one of the map slides.

The 350mmcfd figure is a new one on me, however not out of the question. Just as a reminder, Scott has highlighted the future revenues here, which are worth repeating.

Coho comes online shortly - $6m net profit from 10mcfd. Mcap supported by this well = £45m (20p) A second well is worth another £45m.

Cascadura facilities expected to handle initial flow at 90mcfd. $54m profit. £400m mcap. SP of £2.

Cascadura facilities designed for 200mcfd. $120m profit. £900m mcap. £4.50 SP.

That's without the oil, or the condensate, or Chinook (marked as an oil discovery) or anything else.

By my calculations, in time, just from what we've found so far, we are looking at a 5 fold increase from here.

If TXP starts paying 5% dividends on £4.50, that's 22p, or 25% of the current SP.

Wow. Someone tell me I'm wrong.

Planning for success? I note Chinook is labelled as an 'oil discovery'.

Touchstone Facebook says new presentation for Sept on website.

Could just be summarising all to date. We know Cascadura is large, and both Coho and Chinook cruse will add something to that. Surely can't be Royston without an RNS.

I'm happy with the plan. The company requires cash to advance, but disappointed with Placing price. I have no idea why Pilbeam sold, so won't speculate. Paul was already over his allotted time.

Because the market is disconnected from value. Keep accumulating.

Don't wait too long to get in Yuri. This is the floor (IMHO).

PT - a good time to be marketing a JV giving access to discounted gas.

PRD states fully funded for the moment. PG indicated he is against further dilution and is seeking a JV for further drilling. Are you assuming this will not be successful, and on what basis?

Makes you wonder doesn't it?! Comparisons to Anchois, Hoot sands, Rharb learnings. The bashers are querying $7m for the next 2 wells and PG is already planning a large 3D seismic campaign....Unless he is delusional, which he isn't, then he must have a good idea it can be funded.

https://www.youtube.com/watch?v=g-3dSIXbqN8

Anyone know when the questions that were not answered on the night will be addressed?

Don't forget the capex for the bottling plant, so that's on top of the drilling.

Discovery money - Paul answered that question last night. Not due until testing and appraisal complete, so anticipated early -> mid 2022. He doesn't seem phased by this.

Indeed. "The market is a device for transferring wealth from the impatient to the patient." Buffett.

I'm happy to wait a couple of years.

Low case of 360bcf would be 100 year supply at those rates, so no discount equals £140m mcap. Any increase in production capacity adds to that...

Thanks again GRH, I was musing this last night. A very small find (10%) of low case, gives 10 years of £14m per annum. A market cap of around £100m (discounting from my usual p/e 10 for finite income in this case).

Why is that IMT? Declared gas discovery, drill program to look forward to, large target, clear pathway to monetisation in 18months or so. Not looking to pick up cheap shares by any chance, are you?