Member Info for rossannan

There had better be or this evening will be a missed opportunity.

countdemonet

Is the problem not that so many of those invested here spend so much time talking about the so-called “trolls” that useful and relevant information, such as the tweak to SPT yesterday evening, slips by them unnoticed?

Or not yet, anyway. Not clear what the point of this evening will be if we don’t get an RNS.

PTLP

I am sure, the investment tax credit that is going up to 25% from 20% relates to SPT unless I am very much mistaken:

http://www.guardian.co.tt/news/sweetheart-package--2020-budget-highlights-6.2.955775.83e3700788

Okay, MrMagoo31 can get excited about it when he hears about it from someone (maybe even Leo Koot at 7am tomorrow) whom he hasn’t filtered.

I guess that last post highlights the problem - the CERP BB pantomime distracts folk from what is actually useful and relevant.

Really thought someone would have posted on here about the SPT change in the T&T Budget, whether it is viewed as significant or not.

PTLP

Is the deduction against capital expenditure not going up to 25% by January 2020? It’s a tiny positive, but it is still a positive.

Disc0verer

I don’t know for certain. Maybe. It has been surprising over Leo Koot’s reign how statements that sounded factual at the time have turned out with hindsight to have been merely aspirational.

You clearly have supreme confidence in Leo Koot having a viable and non-dilutive back-up plan. In this market and with WTI at $52.75, I do not share your confidence.

This is not about failure at Saffron pitching the company into some kind of existential crisis, it is about the risk of very significant dilution should your faith in a less irksome backup plan be misplaced.

Disc0verer

Nothing wrong with a 45% GCoS until it is the last well that you have funding for. Then you are being extremely reckless. If Saffron does not produce anything commercial CERP will then be left as a cash burning company with virtually nothing in the bank. Would you dispute that?

IK

What is the point of a post like that? Exchanging insults never advances the discussion.

Calling Saffron an exploration well throws the level of risk that Leo Koot is taking with your company into stark relief. Is anyone prepared to dispute the rate of cash burn here? Not Leo Koot anyway, with the Q3 update seemingly about to be posted missing (just like the Q2 update). The cash burn trajectory is clear. At the end of 2018 CERP had $2.60M in the bank. At the end of Q1 2019 it had $2.06M in the bank. At the end of Q2 2019 it had approximately $1.30M (£1.053M to be exact) in the bank. Here, early in Q4, even assuming that Q3 saw significantly less cash burn than Q2, CERP is unlikely to have much more than $800,000 in the bank, which is what we have been told that Saffron will cost. So Leo Koot is going to pretty much empty the bank account into something with a chance of geological (geological!) success of only 45%? Unless you have managed to convince yourself that Leo Koot has a magic money tree, you have to ask:

What the heck, Leo?

Z2Z2

“This is a massive positive for CERP”

Is it? Another way of looking at it is that LK is again having to cut his cloth as a result of poor financial management and adopt a lower cost/lower risk structure that renders CERP’s entry into Suriname largely irrelevant in the short term and certainly not transformational. In the longer term there is obviously something to be said for having this asset in his back pocket, particularly if the oil price improves, but with LK the reality never seems to match up with initial rhetoric. Describing the reality of Saffron and Clove on here not that long ago would have been viewed as ferocious deramping, but here in Q4 2019 the reality of the SWP for CERP is basically two Bonasse appraisal wells, one now with a 45% geological CoS, one maybe later, though the question of what will be left in the bank account looms large.

Simon T

Pretty sure they could not wait until Wednesday morning to formally announce significant new information discussed on Tuesday evening given that TXP will be trading in Canada on Tuesday evening.

7 October 2019

Touchstone Exploration Inc.

("Touchstone" or the "Company")

Interview and Live Q&A session

Touchstone Exploration Inc. (TSX / LSE: TXP), an oil and gas exploration and production company active in the Republic of Trinidad and Tobago, will be holding a live online interview and Q&A session for investors on Tuesday 8 October. The webcast will be recorded and made available on ValueTheMarkets.com (http://www.valuethemarkets.com/) after the event.

The event will take place at 7.00pm on Tuesday 8 October 2019, please visit the following link to join: https://vtm.clickmeeting.com/txp

Or to listen by telephone, call +44 (20) 7048-4146 and provide the Participant PIN 541733 followed by the # key.



For further information, please contact:

Touchstone Exploration Inc.

Mr. Paul Baay, President and Chief Executive Officer Tel: +1 (403) 750-4487

www.touchstoneexploration.com

Camarco (Financial PR)

Jane Glover / Nick Hennis Tel: +44 (0) 203 757 4980



About Touchstone

Touchstone Exploration Inc. is a Calgary based company engaged in the business of acquiring interests in petroleum and natural gas rights, and the exploration, development, production and sale of petroleum and natural gas. Touchstone is currently active in onshore properties located in the Republic of Trinidad and Tobago. The Company's common shares are traded on the Toronto Stock Exchange and the AIM market of the London Stock Exchange under the symbol "TXP".




This information is provided by RNS, the news service of the London Stock Exchange. RNS is approved by the Financial Conduct Authority to act as a Primary Information Provider in the United Kingdom. Terms and conditions relating to the use and distribution of this information may apply. For further information, please contact rns@lseg.com or visit www.rns.com.

Z2Z2

“what with the voices in their head and the unpaid bills”

Why not try addressing the points that the “trolls” are making about CERP? When you resort to personal comments you give the impression that you do not have any counter-arguments in your locker.

LTID

Everything we know about CERP points to flat production and, therefore, to continuing cash burn. Is that an untruth? All AIM oilers should be taken with a pinch of salt, particularly in this market. Is that an untruth? The retail cult of CERP has seen folk talking themselves and others into becoming over-exposed. Is that an untruth? It turns out that the long awaited new country entry is not going to transform anything anytime soon. Is that an untruth? It looks like Leo Koot is pretty much betting the farm on Saffron. Is that an untruth?

I am not clear whether the RNS on Monday will be the information that they were going to release on Wednesday or just details of what is going to be released when. Anyway, definitely an RNS on Monday and, one way or the other, next week will provide us with a progress report on Coho-1 and Cas-1 and the scheduled operational update. I suspect that next week will be too early for Coho-1 flow rates but I would expect to hear that Cas-1 has spudded and I am certainly hoping to hear that Q3 production stabilised at just over 1800bopd, as planned.

Timing update from PB - RNS on Monday.

Goodbody

The current Government’s rhetoric suggests that we shouldn’t be holding our breath on that one, though happy days if they prove me wrong.