Member Info for highlandmatt

If the company does nothing, both mines will eventually be mined out. It might be 10-15 years away, but we need new projects at some point, and we don't want to be looking when winding down. Much better to research and shop when you can devote time to it and not be a pressured buyer. So, at least 6 months to get over COVID, then start screening again? Unless a good distressed sale comes up in the meantime?

hTTps://youtu.be/RWNHn4T93BY

What are folks' thoughts? I thought there was a little too much info, and therefore rattled through too quickly. It came across as a bit of an endless stream of numbers, which is a shame, as the numbers are really good. Main points:-
1 - both mines have more than 10 years of life.
2 - debt will be repaid in about 2.5 years time.
3 - operating costs remain low, the mines are still running, the company is still very profitable.
4 - other opportunistic projects may come along, and BOD isn't averse to the right opportunity at the right price.
5 - dividend policy remains.

Buffy - I stand corrected. Sorry - trying to listen and type.
Shakey - I din't pick up any timescales re NGC deal, but Paul did confirm that TXP will not be funding the infrastructure. Cascadura results will be two stage - flow results June, reserves after that (July?).

Thanks to LeepingLemming for sharing the link to that event.

That's all folks. As always, Paul came across very well, smooth delivery, straight talking. Supremely confident in what they have, and what the plan is going forward. Interestingly, he talked about keeping the Casca/Chinook rig busy with developing those finds, while at the same time getting a bigger rig to drill Royston. He tinkered with having a third rig doing workovers on the oil wells to the west. News flow over the coming 12 months will be very interesting.

"Won't be able to spend on Trinidad the money that will be earned on Trinidad".
M&A - some opportunities may come along, but focussed on developing world class asset we have for now.

Royston will need a bigger rig.
Confident of drilling 4th well as required by licence.
Need to shoot seismic on the block, to inform development.

Cascadura "unbelieavable, but didn't get to main target"!

Gas income Q1. Company will look very different in 9 months.
No RNS tomorrow re Cascadura. Data being analysed by independent third party.
Data will show minimum pool size, Most important will be AOF, initial production rate.
Will share info when available.

Q1 ok. Netbacks $18. Cash from operations $1.25m.
Republic willing to expand facility if TXP decides it needs it. Sign of confidence.

Chinook 'most exciting'. 4th well will be Cascadura deep.

Cascadura "spectacular". Not sen like in 30 years.

Recorders still being processed. Delay due to restrictions moving data around Trinidad. Possibly 4-6 weeks for news.

COHO connection October.

TXP on now...!

Thanks Dana. Yep, keeping an eye on the spread, and was doing dummy sales until I got a price I was happy with.

Hi Dana. Following your advice I checked, but iWeb is execution only, and states that the only way to transfer is to effect a sale, have the funds deposited in the ISA, and then buy again (or any other shares you fancy). They do waive the £5 repurchase fee though, so it would be £5 commission not £10, but it seems the spread would remain?
https://www.iweb-sharedealing.co.uk/landing-pages/isa-existing-customers.asp

Yes, nice little rise. Allowed me to move 20% of my holding to my new ISA, as I had bought a tranche this morning and effectively just sold it now.

This probably won't apply to most folks here, but it might help someone. Up until now I've been dabbling in shares in a trading account. As I've been building my portfolio, I haven't sold much, and certainly less profit than the CGT threshold. I had always thought that I would only crystallise gains slowly. However, it occurred to me the other night that if TXP got bought out for fair value, I would have an instant windfall of tens of thousands, and a tax bill to match. I have now set up an ISA, and will sell and rebuy TXP in to this. I know this will seem a face palm 'duh' moment to seasoned investors, but it was a bit of learning for me, and hopefully no-one else needs this post. But just in case it helps someone....