Member Info for rossannan

Ayecuramba

“Reality is wells still producing, Central Block only made things better, extra $10M was only to accelerate new production, the company can make it without that money just the new wells will happen as cash flow allows…”.

Let’s not pretend that TXP was a solid proposition brought low by this one adverse event. My points about costs, debt, declines, risks and prospects were well made and the fact that PB found himself fishing in such a dangerous pool in the first place was a reflection of those realities.

The local rampers, for example Che7win, Johnoxxx and yourself, could certainly show a bit more (or even just some) humility. But the immediate crisis has superseded all those conversations.

As Whouse suggests, PB’s radio silence is lamentable and while it persists there is little more that can be said. I certainly have nothing more to say until PB puts his head above the parapet.

Whouse - fair comment.

As opposed to your habit of being right?

Not true, available at 11.7p.

Schlemiel

“capital reorganisation always destroys momentum”

Honestly, this feels like an opportunity. Depends on your timeframe.

There is no other London listed company offering exposure to gold mining on this scale in such a safe jurisdiction. Every UK goldbug should have a piece of this. Makes more sense than placing bets on the dodgy end of the AIM spectrum.

Smasher

“they will come down extremely hard on them if found to have mislead the company”

Is it possible that Portillion feel the company misled them in some way? We have not had their side of the story.

Do you not think PB knows exactly what they are playing at?

Ayecuramba - the question is at what price (i.e. with what level of dilution) are they going to fulfil the requirements of their loan agreement?

I see it now. Classic AIM.

No RNS?

John2727 - I suspect you know that on this Johnoxxx has not been a “solid poster of facts” but are choosing to look away because he is on your side of the argument. If so, that is a real pity. I am sure you would prefer to put such cost questions to bed, but they really matter with the TXP balance sheet in the state that it is.

John2727 - you are clearly very much on top of the detail here. I posited an average cost uplift of at least 50% for the four Ortoire wells that TXP has had to sidetrack so far, reading across from North Sea data (reading across the uplift percentage rather than the uplift amount, which is of course larger offshore). Hardolestation and Johnoxxx have both sworn blind on here that PB recently confirmed that the uplift percentage is a lot less than 50% but, for the life of me, I cannot see where he did this and they are being coy about providing a link. Can you help?

LV1991

That is fair comment, but It really comes down to what they have to say about the missing $10M tomorrow and whether they have finally got their act together operationally and improved their chances of replicating the success they had with Cascadura-1ST1. These are both known unknowns. Bad news on both fronts would certainly render all the ramping on here of the Central Block acquisition irrelevant - the wall of dilution would become pretty much insurmountable. Let’s see what tomorrow brings.

Highlandmatt

“Stating sand thickness is not sharing well logs.”

At best you are splitting hairs there. The information I am talking about typically looks like this:

“Drilling samples and openhole wiring logs indicated over 525 feet of sands in the targeted Herrera formation with hydrocarbon shows observed in samples and at surface throughout the primary intervals. The top of

the key Herrera formation was detected at a measured depth of 6,186 feet, with sand and shows observed throughout the section to the total depth of the well.” (08/02/24 RNS)

Call it what you will, for investors and haters alike, it is an important data point ahead of any flow rates being announced, confirming whether there is something worth perforating in the first place.

Supersport - is PB in control of anything?

Ayecuramba

“logs, as far as I am aware have not been shared on previous wells, so don't hold your breath”

Just taking last year, open hole log data was provided for every well:

08/02/24 RNS - sand thickness for Cascasdura-2

10/04/24 RNS - sand thickness for Cascasdura-3ST1 and CO-374

14/05/24 RNS - sand thickness for CO-375

So I will be surprised if it is not provided for Cascadura-5.

But will they share the logs in the coming days?

Sturm - the point is that none of you have produced any facts and sadly some of you ended making stuff up about the MDAs and PB interviews. This BB needs better rampers.

Obviously an offshore well is going to cost significantly more than an onshore well and an offshore sidetrack is going to cost significantly more than an onshore sidetrack. So what? It’s the size of the uplift in percentage terms that you read across, not the amount in dollars. I gave you hard data from an official report and you have come up with absolutely nothing to refute that 50% being a valid read across.