Member Info for highlandmatt

Agreed GRH. By my reckoning the current SP is underpinned by T&T, meaning Ireland and Morocco for free!

Picmaister - The company says the drill has been a success and the CPR will be increased, but comms following the drill have been quite technical, and some folk have jumped to negative conclusions.

NH - I see GRH has beaten me to providing the key phrase from the latest RNS...."MOU-1 therefore further enhanced the CPR prospective gas resources". The target keeps getting bigger, therefore the value of the resource in the licence area keeps getting bigger. Therefore company VALUE (not SP) (hat tip to Sefton's many posts on this theme).

NH - just for clarity, this wasn't a response to your post that hit the BB immediately before. Independent musings.

While we await the result of the wireline log analysis, I'll throw this question out there. If this was a duster / disaster why has the company announced that the CPR prospective resource will be increased?

I think PG missed out the failure bit of the Churchill quote because the well was not a failure.

NH - see the discussion re T&T. £1.5m profit last year and expanding. That alone gives a valuation of £15m. If the EOR business turns £2-3m this year, even if Morocco and Ireland do nothing, this is a solid business generating cash. All small exploration companies place to drill. Stop trying to scare folk.

If that was hit, we would be looking at an mcap of hundreds of millions.

I've been a shareholder at TXP since the 11p days. A great ride and more to come. I remember one poster selling out at 17p as he was sure a placing was coming up. As it happens, he was right. But the company put that money to good use, more than repaying the amount raised. The rest is history. A placing may be coming here, but if it is used well, that is not something to be feared. Are there unknowns at the moment? Of course, but you either trust the BOD or you don't. Who knows what PG is cooking behind the scenes, but I've reread the published info again today. Prospective area up, CPR to be increased, further drilling to come. I'm here for the journey.

Just for clarity, the 11.02 'sell' at 6.42p was me adding another tranche, so it's a 'buy'. It feels and looks like sentiment is turning. Hopefully any LTHs that sold on the way down will start to return.

Definitely two camps on here.
a) Long term investors looking at the whole journey and where we will be in 2-3 years time. Prepared to hold through dips and accumulate sub £50m mcap on potential of £200m+.
b) Those concerned by short term movements in share price, communication, funding. Trading in and out.

Both could be right. Those that derisked ahead of the drill and bought back in have done well. A couple of observations:

1. Interesting parallels with Touchstone's Chinook well. As it wasn't a blockbuster result, the SP cratered. It is now being flared.
2. Also interesting parallels with Helium One's first well, which has gas shows, pointing to a larger resource. Due to different communication, everyone is raving about it.

Now I know He1 expect to hit their target on this drill, it's just ours appears to be a different location. He1 raised $10 for a drill program and everyone is supportive. If we are targeting multiple TCFs, then raising a few million really isn't an issue?

Halfway through, also 'Chinook discovery'. Wonder when the testing RNS will land...?

'The stock market is a device to transfer wealth from the impatient to the patient' (or words to that effect) : Buffett

Ouch. I wonder what price those shorts are at? Given developments and newsflow, looks like shorterd will get burned.

Yep, buyers tempted below 1p (including me). Mcap of £7m. £2m cash banked from He1, another £2m+ in He1 shares. Ruvuma. Plus new JV and profitable business acquisition lined up. That's a lot for £7m.

If you were looking to duck and dive, you would be vaguer, and not publish numbers.

Yes, but we have already invested, and are not the ones that will be required to buy in to the various businesses to deliver value to shareholders. I view these detailed technical RNS's as akin to sales brochures for potential suitors / bidders ('look what we have').

All sounds positive and confident.

Just changing the subject heading ;)

MrCc - are you forgetting the $10m recently raised?

Confident, but your opinion is 'strong sell'? A typo?

From the RNS

Initial results
The occurrence of good gas shows in MOU-1 with evidence of thermogenic gas migration supports in this part of the Guercif Basin the pre-drill geological interpretation for a deep gas "kitchen" connected to shallower reservoirs by large faults.

Based on these positive results the Company will be proposing to its partner to drill the previously defined MOU-4 location later this year".

Good gas shows. Supports pre-drill geological interpretation. Positive results.

More to come I think. Given all the irons in the fire, a mcap of £20m is a bargain.