Member Info for rossannan

I'm free to speak my mind anywhere.

Lancygeo

Rig “on site” by the end of September is not the same as spudding by the end of September.

petersalkeld

Does it not seem to you unlikely that none of the LTHs on your list, some of whom appear to be over-exposed, de-risked by taking 4.8p when it was available? Or even the 4.5p that was more recently available? Do you not suspect that it tends to be only purchasers who update you?

petersalkeld

In all the time that you have been curating your list of holders, has anyone ever notified you of a reduction in the number of shares against their name?

jrte

2.9m. What percentage of your portfolio is that? I hope that some of the over-exposed LTHs have taken the chance offered by recent highs to de-risk a little. So far, CERP is a triumph of viral marketing via Twitter and BBs. Where is the substance here?

Overexposed LTHs might want to recall what followed the tweet-fuelled surge earlier this year and consider a de-risk at these levels. Consider, in other words, the possibility that the share price is making promises that Leo Koot can’t keep.

See you on the next meaningful RNS.

Rugby2015

Whether something is accretive and whether something provides funding are not necessarily the same thing. But funding clearly is required here. I have suggested an open offer with an excess facility. I think that would be a smart and shareholder friendly move. But if LK thinks it is smart to empty the bank account to pay for something with a CoS like Saffron’s and not leave himself a margin of safety, you should be looking for a new CEO.

bigmj

When funding is as tight as it is here and cash burn appears to be ongoing, taking cash instead of shares, even with the LIND debt almost cleared, suggests that a funding event is just around the corner. Otherwise this move would just make funding even tighter.

You say that there won’t be a placing but you do not know for certain. If you did know exactly what Leo Koot was planning you would be an insider and unable to say anything about funding on here. No doubt Leo Koot has told you that he intends to avoid a placing but he makes a lot of aspirational statements and fails to follow through on a significant number of them.

Why don’t you lobby him to bite the bullet on funding while the post-tweet going is good? An open offer with an excess facility would be a smart and more shareholder friendly move - the new shares would end up in the stickiest of hands and in general it would be a tonic for the troops. If LK continues to be in denial about funding he will eventually find himself bounced into a placing at a time and price not of his choosing.

bigmj

Another way of looking at it, bearing in mind the cash position/burn revealed by the interims, is that the BoD being paid entirely in cash going forward suggests that a funding event (ideally an open offer with an excess facility) may be just around the corner. What should also be just around the corner is the spudding of Saffron, but given that the most recently tweeted picture was of an oily finger rather than the construction of a drilling pad, I suspect that this is now going to slip into Q4. Don’t you?

Margaret365

I did consider it.

Tiburn

PBaay@touchstoneexploration.com

adoubleuk

It is always reasonable on AIM to say “That’s great, now when’s the next news?”, but while some drift cannot be ruled out, anyone in this for the long term who is confident that the concept will be proved must now be thinking that there is less to be gained by trading in and out than there once was and more now that could potentially be lost.

Malcy, always the friend of O&G management. They really have to go some before he will say anything even remotely sceptical.

Simon T

Not how MMs work - they are bookies, not gamblers. They make money by not taking a view about what is coming.

Not a Malcy fan, but here he is:

Touchstone Exploration

The COHO-1 exploration well results show four zones with natural gas accumulations at the Ortoire block in Trinidad. It is now being cased for further evaluation of the Herrera sands where well logs indicate significant prospective natural gas pay in four unique sand packages.
This is a significant find for Touchstone coming as it does at the smallest of the prospects in the Ortoire block inventory. The discovery shows that their geological model is correct and the drilling of this well was completed according to plan. The rig now moves onto the Cascadura location where they will test a separate structure targeting significant oil prospects.

Good stuff, everything was where it was expected to be and it turns out that even the more speculative lower target was worth having a look at.

mover123

Have you already popped a cork? That was a telling slip...

Keeping it on ice until we have a confirmed photo (e.g. via a HUR tweet as with Lancaster back in the day) and then only sipping until we see a shareholder friendly RNS. Fingers crossed that we have now have an antidote to Warwick Deep!

Logging results are usually available very soon after drilling.

Alchemyex

Definitely not the 17th. It’s a two stage thing - logging and well testing. The 17th is too late for the former and too early for the latter.