Member Info for tidd83

The update states nothing of the sort. The site survey permit is due for update following the close of public consultation on the 13th June with the 14th June being specified for the initial funding of $9m. The partners have already nominated the site survey vessel which is currently idle awaiting to mobilise. Why would there be any advancement of costs given that the permit is currently in process? They can’t do anything with funds and as was pointed out earlier would incur interest at 5%. To state the Chinese are getting cold feet is a little bit silly, especially given the lengths of agreements at government levels, the additional forward loaded costs to $24.5m and the nomination of rig only back in Feb. Do people here honestly believe that regulatory permits are new to the likes of these operators?

Just looking in and well done to those invested as I know many familiar faces who are. I have to ask however, this company was purchased in or around September for £6.8m and has reported a net loss of £1.1m. Whilst I can understand there is potential surely a capitalisation of £80m and a 1000% mark up in acquisition costs in such little time is a bit steep? Good luck to those in, I am just contrarian.

Also got an order in to add, you are right - any demand on news will launch this. Zero stock available - MMs marked down on no sells.

Ivans please return when you have done some research. Do you understand the terms of the farmout agreement? It appears not.

Gabriel, I can answer that in one sentence. Touchstone simply met their work requirements for the associated blocks, they are now free to drill wherever they wish.

Possibly margin called elsewhere and forced sale. Phoebus, good post - I share your sentiment!

Huge news!!!

Now out https://www.valuethemarkets.com/2019/05/16/touchstone-exploration-online-presentation-paul-baay-discusses-q1-results-and-upcoming-drilling-of-ortoire-block-txp/

Harry, don’t forget to add in the revenue stream for project operations/management. And this is the first project, it sounds as if a second is in the wings.

Added again this morning. Currently in the territory where JW purchased £350k worth.

Recent interview with Paul Baay explaining the drill plan and the magnitude of some of the structures at Ortoire; https://www.valuethemarkets.com/2019/05/02/valuethemarkets-podcast-007-paul-baay-of-touchstone-exploration-on-the-forthcoming-ortoire-block-drilling-programme/

Figures in the presentation look exceptional, along with a 95% COS since they are twinning existing wells.

Draft no it isn’t.. the license was formed in draft to allow for the workstreams to progress during FEED. The findings of which are being submitted to form the full and final complete license. You are comparing chalk and cheese.

I second your thoughts. The RNS should have been released prior to the meeting, that being said I think there is a lot of noise about nothing. The share price is causing the poor sentiment and it’s a vicious circle. The marine license in itself for me is a non issue and all findings sound as if they are well within margins. There is a lot of news in the pipeline to come and the company are still working on all channels.. timelines slipping is all part and parcel of the game I would be quite happy to pull financing for all seven caverns. There are a lot of moving parts but ultimately the project is progressing as planned. The MCAP is currently circa £9m at this stage which to me offers a hell of a lot more upside than down

Great update Dawski many thanks. As expected, storm in a teacup - make the most of the ISA allowance.

Snowman I think aunty has got the dates wrong, FID still targeted for H1 and anything otherwise would have to be RNSd. I’m sure Dawski can add.

https://www.investegate.co.uk/lansdowne-oil---38--gas--logp-/rns/barryroe-well-testing-update/201203230821379438Z/ https://www.investegate.co.uk/lansdowne-oil---38--gas--logp-/rns/barryroe-well-test-analysis/201205240850210160E/

A financing package of such nature will take time to complete. There are multiple options on the table and additional work streams already in play which have seen reductions in capex requirement based on the work for which Costain has recently been appointed. Debt offers tabled from two banks as well as well as from the two potential equity partners one of which only completed DD in recent months. Those who assume a deal can be struck overnight for a potential 40 year term whilst also considering the number of options and the best possible format need to wake up. The updates are continually positive, the CEO has more riding on this than most given his purchased of over £350k on market. All will now be in a closed period due to the nature of the discussions. Manage expectations, Rome wasn’t built in a day - that said if and when a deal is announced and any further offtake confirmations the potential for a significant gap up can not be ignored. Company is sat at just £9.5m valuation, the work completed to date equates to much more including the completion of FEED aka feasibility study. The project is expected to exceed the original projections of commercialisation and given the closure of Rough is at a significant time to move forward. Ignore the bias of those enviros who oppose, there isn’t an O&G project on the planet that don’t have the usual hypocrites with their banners trying to block it, all of which drive/fly to their gatherings sitting in centrally heated rooms and making their snacks all from the commodities of which they oppose.

Still here, just post elsewhere from time to time ;)

Current production will see around $5.7m revenue generated per month.