Member Info for tidd83

“ With Trinidad being a hive of Hydrocarbon activity if the shares dont move up substantially they will surely be in someone elses cross-hairs before long.”

Malcy is right and with Shell in the neighbouring block looking to expand on their depleting gas production I think we will all know who that will be.

Dana personally I think your estimates are conservative, I think the slow and steady moves are merely due to North reducing their position.

https://globalmeet.webcasts.com/viewer/event.jsp?ei=1330812&tp_key=93c4242c84

From Casca alone expected to be circa 15k boepd.

Couple that with COHO 2000boepd and existing production from the western blocks at again around 2000boepd.

19k production figures with the largest portion being has and condensates even before further appraisals and excluding Chinook, Cascadura Deep and Royston.

I think PBs dream of paying a nice dividend is certainly on the cards here. These guys are going to be throwing off cash faster than they can use it.

This of course is before a predator makes a fell swoop to take over, the guys need to drill and prove up these reserves as fast as possible.

Dana, who knows but even at 183m shares in issue even just at the 2P reserves valuation (excluding all else like COHO and the existing 18m 2P reserve base from the already production blocks Casca alone would conservatively warrant a £1.09p share valuation.

Binding term sheet now in place and Bluechip consortium due to be named.

Looks like AL over at PVR is about to deliver on Barryroe and LOGP holding a nice chunk should do quite well out of it.

Absolute mess, it appears the BOD don't have a handle on even the basics at present.

Fines in relation to missed delivery timescales (with no understanding as to why) and overcharges on postage stamps.

It makes you wonder what other REAL skeletons in the closet are about to emerge.

Currently North selling to balance their portfolio are offering quite a good offer based on the news released today.

This should move well once they have cleared.

The wall of cash, given the huge exploration potential within Ortoire and with recent success I would be happy for TXP to actively drill and prove as many targets as possible.

PB has always insisted that a divi would be returned to shareholders for excess cash and that is very probable given todays expected production figures sooner rather than later.

It is without question that Shell operating in the neighbouring block will be closely following TXP.

tradeemup - couldn’t agree more.

It’s also worth noting that the cost of drilling is also cheap being that it’s onshore and a ready market in T&T who are desperate for gas.

Already in negotiations with state owned NGC for sale of gas and potential funded infrastructure tie ins.

Perfect

Cascadura has come in WAY above anybody’s expectations even before the deeper zone is tested.

Unbounded and an AOF larger than that hit at Carapal Ridge on discovery, this is incredible.

Even before Chinook, Royston and the deeper zone is tested (all of which follow the same modelling as both COHO and Cascadura (and of which are expected to be even bigger) this is fantastic.

Production rates around 1700bopd currently of oil, circa 1500-2000boepd from COHO and now this at 10k Boepd makes TXP the real deal.

Should see a significant re-rate coming here.

The first question is just how big is Cascadura, 300-500bcf?

UOG has always been undervalued, hopefully today's news gives the market the focus it needs.

Circa 2500-3000boepd production a large portion of which is hedged at $60.

MCAP is just £11m as it stands. A long way to go.

Saw similar at TXP for a long time when it languished around the 8p region with no love, the correct news arrived - the market focused and we are testing 50p at present with more to come.

I'll make one post on here, not to deramp but to stick some realism to those who don't appear to have much idea of what is going on here. It beggars belief to read only yesterday and see some investors asking "What an RTO is?"

Regardless of MTFBs past, it is ultimately (as advertised) a cash shell. The raise today gave a cash injection to make the shell more attractive so as it stands there is around £800k in the pot. If you assume a valuation on the AIM listing of around £450 that warrants an MCAP somewhere in the region of £1.25m

Fully diluted there are 647m or some shares in issue. That attributes a fair value at just around 0.2p per share.

The rest is noise, any company reversing in to the shell must be of value above the prevailing MCAP or else it is not considered an RTO. If they do complete a deal the shares will be suspended until relist, at which point they may / may not complete a share consolidation.

Either way, the current value of MTFB as it stands today is the 0.2p figure above and that imho is likely nearer the mark to be hit if an RTO is triggered. The rest is just noise.

Juyamah, just looking in here but spot on.

Beggars belief, huge news and correction from the rest of the market and barely a move to fair value. Meanwhile UKOG get a permit and fix a POS low volume well and are up 33%.

As we know - the world has gone mad.

Perfect storm with Nat gas prices up around 10% too

Superb RNS, what is noteworthy is that the second stage test was completed with a draw down at only 13%. Flow rates exceeded the limitations of the testing equipment! PB stated that typical target was a draw down of some 30-50% so it shows the full extent of the enormity of the results here.
Chinook next and then possibly a new well at Cascadura targeting the deeper and original zone (which could again yield similar results) and then finally onto Royston all of which are fully funded.
Both Chinook and Royston targets are huge, I very much look forward to the reserves update from Cascadura too - a lot to look forward to and already at a total now of circa 14k BOEPD production figures.

FTSE, DOW and Oil up early trading so we should see some gains come back across the market.

TXP should follow suit from these lowly levels, plenty of bargains and opportunities to be had where fundamentals have not changed.

https://trinidadexpress.com/newsextra/mysterious-night-glow-revealed/article_3832f01c-4a16-11ea-a0e1-7f9b56f5c468.html

"President and Chief Executive Officer, Paul Baay, said, “The Cascadura production test results represent a dramatic change for Touchstone, as it confirms the monumental resource potential of the Ortoire exploration block following the earlier success of our Coho-1 well. Furthermore, the test results are only attributable to the lower most portion of the well, and with 450 feet of contiguous sand to be tested, the full potential of the structure is yet to be defined.”