Member Info for RussellSprout

If you look back over JS comments on TXP (google Josef Schacter Top Picks Touchstone Exploration) you will see that he said that this share was his smallcap exploration share, and it could be anything if successful with the drillbit - that was when we were starting out on the Ortoire road. Tuck them away.

To be fair to the guy, Canadian oil and gas stocks have been hammered over the last few years, for a variety of reasons, even more so than the rest of the world. I think he has taken a more conservative approach in his tips as he has had the backlash of a few callers on stocks he has recommended, which have fallen markedly because of the market, not that they are not good companies.

He has repeatedly, for the last couple of years been tipping Touchstone, as his exploration smallcap.

However, he seems to have forgotten that Touchstone operates in Trinidad at Trinidad prices and demand.

It cant be on yet, its only about 7am over there - you might be watching a previous month. I think hes on about 12 noon Canada time.

Google "Market Call on BNN" - I watch it about 6pm, not live, but only an hour or so after recorded. The whole programme is usually about 50 mins -it is split into modules if you don't have time. I like to listen to his whole take on the industry. He hold TXP himself.

Canadian oil and gas expert, Is on BNN Market Call today. He might have some comments on TXP !!

Well done - not many left on this board now.

I have decided to hold now at least for the medium term. Most of the Canadian oilers, and presumably US, have recovered substantially all of their losses, and so IMO, the massive write downs will soon be reversed, and the NAV increased substantially. Some commentators say the oil price will be $70 by year end.

Yeah - hang up and wait for the video tomorrow.

Rubbish service - same as last time.

Hopefully the latter.

Where are you from Foxykiwi ?

I am guessing any day, as they were out on 23 May last year.

Perhaps the anticipation is what's behind todays little flurry.

Onwards and upwards.

Any ideas where this is likely to get to by the time the £50m runs out, anybody.

I thought maybe £4, but just wishful thinking.

The poor guy gets some stick - someone said the other week "he has 30 stones of experience in the oil and gas sector".

To be fair - it has been hard to pick a winner in the oil and gas sector over the last couple of years. And he has dropped us from the bucket list, so maybe there is a message there.

Who knows - maybe breached this week, maybe even today.

With regards to the NAV, Tobin states the market is up 20% since 31/3. I would say the oil sector is up a lot more, particularly American/Canadian companies, some have 2-3 bagged since the lows of mid-March. And the hedge books of some of these companies is very good, particularly Hammerhead, 100% production hedged for 2020 I believe.

Listening to Josef Schacter on Market Call yesterday, he sees a drop in oil prices by July, and then by about October they should be recovering to normality. Who knows.

But while the buy back continues, what's not to like.

Sorry, X-O not E-O. £5.95 per trade and no admin fees.

Valveman - I use III, but I have just opened an account for my daughter with E-O - execution only £5.95 per trade - ideal if you are not trading much. The service seems ok.

Shoot first, ask questions later !!

Most, if not all, of those red sells are actually buys.

My point was that they have moved the ask from 7.8 to 8p. Not what I would call a "spike".

Anyway, I bought in Friday and again this morning, so I am blue on this one - the only one that is, apart from TXP.

Crazy price !!

"Little" being the optimal word !!

Dana - with regard to the selling - there are several reasons why people will sell. A couple that come to mind.

Firstly is for financial need - if you have to have money for whatever reason, it is normal to look at the shares that are in profit to sell, rather than taking a (big) hit on losers. Some will have made good profits here over the last couple of months.

Secondly, if you think you can buy back cheaper in future, then some will take the risk and sell - applies more so in a falling market.

I suspect some are thinking no news for a while, shares are falling, sell a few and buy back later, hopefully before next news. I wish I had, not just TXP either, but I suspect no one really saw the bloodbath coming to the extent it has.

Mine is continually loading so I am listening on the phone - poor sound quality though.