Member Info for John2727

GGG, you’ve been running the same record on loop for weeks now - repeating it every day doesn’t make it true. Let’s get the facts straight. I outlined that some of your post were solid and if you dropped the slurs against PB you would get a lot more respect.

So to clarify.

CAS-4/5: CAS-5 is drilled and cased. CAS-4 is under the rig now, aiming for TD end Sept/early Oct. Hook-up usually takes 4–6 weeks - but PB already said in the Q&A they’ve been working on hook-up logistics during the downtime, so hopefully it runs smoother and quicker. Then the rig moves to Central Block in October. That’s the sequence PB outlined, so Q4 gas is realistic.

Cash at Q2: $6.34m reported, with $2.76m restricted, leaving $3.58m free. Tight, yes, but not “we couldn’t pay our bills.” Shell receivables slipped past quarter-end, which distorted the picture.

Equity & the bank: The May 13 RNS on the Republic Bank loan already disclosed equity was part of the package. PB’s interview wording - “the bank didn’t force us” - was clumsy wording in the interview - yes. Reality: it was a negotiated condition from the start to secure the full $30m and be fully funded. Poor comms, not a lie.

Debenture: $12.5m with JJR Holdings, who are already shareholders. Shares issuable are capped, and if cash flow builds, more can be settled in cash instead of stock.

Costs: CAS-5 came in at $4.6m, under PB’s ~$5m target. Exactly what you want when scaling a drilling program.

VAT: $6.7m owed, $2.96m bond still held. A working-capital drag, yes, but not a broken model.

Insider buy: PB has said he will buy shares personally once blackout ends - which likely means once the legal loose ends on the failed raise are tied up. That’s a key credibility marker, and I’ll be reminding him of it when the time comes.

Discord ran the Q2 numbers several weeks before they dropped (revenues, cash, VAT, restricted cash) and were bang on. So no surprises there. The focus now is CAS-4 hook-up and the Central Block spud, not re-running the same interview clip on repeat.

You say you’re a major shareholder, but I honestly scratch my head why you choose to kick your own testicles every single day. How about we focus on the next two Cas wells instead and give your balls a rest.

And if you were on Discord, you’d also see detailed O&G analysis on things like compressor requirements and line pressure from people who have actually work in the sector.

GLA - hopefully happier times ahead.

GGG I’m not disagreeing with every point you’ve raised - in fact, a lot of what you’ve said lines up with the main risks I’ve been flagging as well. But it’s worth stepping back and looking at what’s actually going on, rather than just assuming worst-case on every moving part.

1. Casc 4 & 5 – Drilling & Hook-Up Timeline

CAS-5 – fully drilled, cased, and ready for tie-in. The drilling phase was completed broadly on schedule.

CAS-4 – currently under the rig, with drilling already halfway down. At the current pace, total depth could be reached by end of September or very early October.

PB also said the rig is scheduled to move to Central Block in October, which by definition means CAS-4 should be at TD by then.

Once drilling is complete, hook-up is estimated at 4–6 weeks, assuming no major equipment issues

During recent downtime, I asked about rig crew costs - PB confirmed the team used that window to work on hook-up logistics, so some of the groundwork is already done.

Based on historic execution speed, I see your point that November is more realistic than October, but let’s see if they can get to TD on 4 in the next few weeks, which is doable since the new crew had no issues in getting to 6890ft in record time.

2. Compressor Spend – $6M Over 6–8 Months

This isn’t just a capacity upgrade - it’s a key system optimisation.

PB explained that by reducing inlet pressure, the compressor frees up more inline pressure, allowing wells to flow at higher rates and improving total throughput.

If results are similar to the Central Block uplift from compression, the production increase could be both meaningful and immediate.

Spend is phased over 6–8 months, avoiding a single cash drain.

Yes, there’s installation risk (Central Block delays proved that), but if it lands on time, it could add significant incremental volumes.

3. Central Block – Price Uplift Potential

The strategic target here is getting CB volumes over 22 mcf/d. Above that threshold, the realised gas price on CB contracts jumps.

That means the next mcf isn’t just more production — it’s higher-margin production.

CB well completions and hook-ups therefore have a multiplier effect on revenue.

4. Funding & Bank Covenant

The official narrative is “bank funds CB, equity funds drilling,” but practically the equity improves the bank’s security position.

The $12.5M from the major shareholder doesn’t happen without access to data and confidence in near-term delivery.

Port remains “legally binding” per PB, but until cash hits the account, it’s not part of the actual funding base.

5. My View

The company’s forward plan now rests on:

Completing CAS-4 on schedule (TD by late Sept/early Oct)

Hooking up CAS-4 & CAS-5 within 4–6 weeks of drilling completion

Installing the compressor without slippage beyond mid-2026

Getting CB volumes above 22 mcf/d to trigger the price uplift

Hit those

36 questions put forward and PB covered 34 of them. The full context is in discord but I have made built points below on the main points.

Here’s the condensed responses

• PB will buy shares after blackout.

• Equity raise driven by Cas-4/5 delays + bank covenant.

• Bank funded CB; equity funds drilling.

• $7.3m covenant still due — raise or waiver.

• Cas-4/5 now Q4; compressor $6m, completes 2026.

• All Cas-5 sands Herrera; strategy unchanged.

• Portillion deal still binding.

• CB drilling set for October.

• Production dips from delays + high line pressure.

• Guidance cuts are timing only — volumes recover long-term.

The full 36 question are in Discord

Just completed a Q&A with PB - I’ll be posting the responses on Discord first. Once the group has discussed them, I’m sure they’ll make their way on here tomorrow.

If you want to see them sooner, you can catch them on Discord in a short while.

I decided to undertake it this way as a lot of work went into compiling the questions from the Discord members, so it’s only fair the group sees the answers first.

Remember - I put the questions forward and always post the full context of any responses, I may receive.

Josh. Link here to discord.

https://www.instagram.com/p/DNV4aWDMfGv/?igsh=MWdyeGNocWtvOTg4NA==

Blow fresh gas up someone’s backside and they just spill gibberish crap

If my numbers are off, I’ll happily hold my hands up and apologise - but my understanding is:

Back in May: 75M shares = £15M (£5M raised for 24M shares)

Now: £5M + £9.2M (debenture) + £1.2M (warrants) = ~£15.4M value

If I’m correct, the structure now gives TXP more value for fewer shares issued compared to May. That feels like progress, not dilution.

Today’s news has brought a bit of sunshine to our miserable life. And the emotions have been high and some have crossed the line of decency. But when you strip out the noise and look at the numbers, it’s worth remembering why so many of us have stayed invested through thick and thin.

Dilution capped at 65,248,201 shares from today’s deal – That’s a key win. The original May raise would have diluted far more for less certainty.

Conversion price is a strong premium to today’s SP – Debenture converts at just over 16p (C$0.30) and warrants at just over 20p. That’s confidence from an existing shareholder.

Better deal than May – Back then, 75M shares for £15M. We only raised £5M for 24M shares. Now we’ve got £5M + £9.2M equivalent in debenture + £1.2M warrants = ~£15.4M in value for the company.

Bank equity requirement partly met – US$7.3M left to raise before year-end, which can be done at (hopefully) a much higher price if production targets are hit.

Path to re-rate is clear – Finish and bring Cas 4 (and maybe 6) online at strong volumes, move the rig to CB, drill two high-impact CB wells, and tie them in. With the infrastructure in place, every new mcf and barrel drops straight to the bottom line.

We’ve all held because we know TXP isn’t a one-well story. The Central Block alone has the potential to transform the company’s profile and valuation. Today’s deal gets the rig turning again, keeps us compliant with the loan agreement, and most importantly, positions us for production growth that could make the remaining equity raise much less painful.

Yes, we’ve had many frustrations and delays. Yes, management communication hasn’t always been perfect. But the fundamentals of the asset base remain the reason we invested in the first place. Now it’s time to deliver.

Yep GGG, I posted on the DG. Are you not on there anymore?

Effectively, they are working on options and will respond shortly.

Let’s be clear - your comment is not just ridiculous, it’s revealing.

Suggesting that a shareholder taking the time to engage with IR, ask questions on behalf of a strong DG investor group, and seek transparency is somehow dangerous tells me you’ve either lost perspective or never had skin in the game to begin with.

If anything’s dangerous, it’s passive silence while a company’s share price collapses, leadership goes quiet, and retail holders are left guessing. You don’t like the questions? Fine - challenge them. But slandering the effort to get answers says everything about your motives.

I’m not here to please people like you. I’m here to try and protect what little value remains for the rest of us - the ones actually exposed. If that bothers you, maybe ask yourself why.

Ross, if you enjoy revisiting old posts more than contributing on new insight, I’d suggest ‘The Denial of Death’ by Ernest Becker.

It might help explain why you’re stuck clinging to archives like they’re memoirs of a life once lived. 🤓

In my early years, I read quite a bit of Gustave Le Bon, particularly his work on the madness of crowds and how those most affected will often turn on anyone trying to help them see clearly. It always stuck with me. Because it’s not the shouting or resistance that defines the madness, it’s the inability to recognise when someone’s actually trying to help.

I recently submitted 11 updated shareholder questions to TXP. They’ve acknowledged the request and said they’re gathering detailed responses, with a view to replying by next Thursday.

As always, once I receive a reply, I’ll post the full response here and on Discord for all to read - no spin, just the info for everyone here who actually own shares in TXP

Ramping? You mean like spending hours gathering shareholder questions, chasing down answers TXP should’ve published themselves, and posting those replies in full so everyone can make their own informed judgement?

genuine question ross! is being a ******* your full-time job now, or are you diversifying into self-parody?

Loads of noise around, but also plenty of solid insight from real investors asking the right questions and helping others understand where we are.

I’ve been in direct contact with Touchstone since January, done four Q&As, joined the field trip to Trinidad, and just shared the latest factual update on Discord for those who prefer numbers over Retail bait.

Not getting dragged into the usual chaos on here — though I will admit, Rossannan’s posts do help me nod off at night. Usually asleep by the end of the first sentence.

If you want proper updates, come join us on Discord 👉 https://discord.gg/xmNHaYGS

Facts. Numbers. Actual answers.

Https://www.instagram.com/p/DMMp3kXCrVk/?igsh=N29ubWg4bXp6d3Ex

Quick Update for Everyone – Please Read Carefully

I’ve had a direct reply from the company regarding the funding and next steps.

Here’s a plain summary of what was shared:

Portillion/Oak Situation

The company still considers the Portillion funding agreement to be legally binding.

They are not moving ahead with any other placing until this is resolved one way or another.

Equity Raise

Because of the unresolved Portillion situation, they cannot confirm or deny whether an equity raise might happen in the future.

However, they made it clear there is no plan to launch a fresh raise right now while the Portillion discussions are still active.

Alternative Funding

Management confirmed they are exploring other options (like royalty financing, mezzanine debt, or offtake deals) as a backup if Portillion doesn’t come through.

These options are not finalised yet - they are contingency plans.

Operational Update

They will issue updated guidance on production, cash flow, and development plans once funding is clarified.

The call and response was measured, and they understand the frustration. They appreciate that uncertainty is hurting the share price but are limited in what they can say publicly while this process plays out.

In plain English: the focus is still on getting Portillion/Oak sorted. No immediate placing is planned while that’s underway, but they are preparing other funding options if needed.

If I receive any further updates I’m allowed to share, I’ll post them.

I appreciate that you think you’re providing some kind of public service by telling everyone the same thing over and over - that it’s all AIM “crap” and uninvestable. But let’s be clear: that’s just your blanket view of the entire sector, and it has nothing to do with any specific analysis of TXP itself.

You say people like me “can’t see the wood for the trees,” but actually I’m fully aware of the sector risk. I’ve worked in businesses that deal with financing, debt, and operational setbacks for decades, and I know the reality of how fragile smaller companies can be. The difference is, I’m not afraid to break down the scenarios in detail and look at the numbers.

If you think there’s no value in understanding how production, pricing, and netbacks translate into cash flow, that’s your prerogative. But let’s not pretend you’re somehow more rational because you can only see downside. Anyone can stand on the sidelines and shout “it’s all doomed” on repeat. It doesn’t make you a realist - it just makes you a pessimist.

You’re welcome to avoid all AIM stocks - nobody is forcing you to participate. But there are plenty of investors here who understand the risk and still want to explore the upside case properly. Telling everyone it’s pointless to even attempt analysis because “failure is almost guaranteed” is just defeatist noise.

Genuine Q If you really have no interest in this sector, why waste so much time policing other people’s TXP views?

12:28 You seem to have built a little hobby out of turning up every day to declare TXP uninvestable while offering absolutely nothing in the way of your own numbers or constructive ideas.

It’s quite something to watch you belittle anyone who’s actually taking the time to map out production scenarios, pricing formulas, and cash flow estimates-while you just recycle the same doom-laden soundbites on repeat.

You keep calling it a “big if,” but here’s a thought: everything in small-cap energy is a big if. That’s literally the point of investing in a junior E&P on AIM. The difference is some of us actually do the work to figure out what happens if they execute, if they get the rigs running, and if the cash flows scale. You don’t have to agree, but at least try to contribute something of substance rather than this lazy narrative that everything is guaranteed to fail.

The irony is you accuse everyone else of speculating, but you’re doing exactly that - just speculating in the negative direction without a shred of data to back it up.

If you’d like to challenge the assumptions, feel free to post your own model showing why the next wells won’t generate the cash that’s been outlined, or why Central Block pricing doesn’t improve above 22 MMcf. Otherwise, you’re just another anonymous keyboard critic lobbing grenades with nothing behind them.

People here are perfectly capable of reading balanced views. What they don’t need is someone who shows up to dismiss every single post that doesn’t match their personal gloom.

And just for context, I’ve run a business for 35 years, built approximately half a billion in housing, and have been cap in hand to many UK banks and successfully raised millions over those years. So I do have a fair idea what lenders look for. Agree it’s not certain - but again, that’s the nature of junior E&P on AIM.