Member Info for tidd83

Well for starters there is a grant application in for £40m which should be updated on in the near future. That alone would dwarf the MCAP to 3-4p before we even touch the sides on the other news fronts.

Next resistance, if breached it should be a good move up

Only thing I spotted was the mention of delay from Q1 to Q3 it was always expected to be Q2 drill so only a slight slip. That said, 34mbo if moved to 2P @ a below average $4 per barrel valuation equates to $136m excluding any explorational upside.. not bad for £9m with all upfront costs covered.

Shared by Andrew Russell on Twitter; http://www.alignresearch.co.uk/oil/providence-resources-update-2019-the-value-realisation-year/

Think someone is taking a position in the background, I speculated earlier that this could be a potential partner or financier wishing to take a stake of equity at company level ahead of project equity financing. Makes sense, get in early whilst the price is low. Expecting a strong move over the coming days/weeks given the pipeline of news and progress made to date the current MCAP of £12m is very attractive. Seperare government grant funding update will also be due shortly to the tune of £40m with already government backed funding for the remainder and the only project with PCI status.

Photo, the market as a whole is what is affecting the SP as it appears all logic is currently out of the window. The current reserves stand around 10mbo 1P, 18mbo 2P which alone is heavily discounted by current MCAP of £13m. TXP as we know are producing around 2000bopd, with Brent at around $55 this is not too dissimilar to H2 2017 prices when the share price rose to around 16.5p on approx 1500bopd production figures. TXP have hedged around 500bopd at $50 and from memory are at least breakeven down to $30 oil. Bare in mind that the royalties are also based on POO and so with a reduction in the commodity price will also reduce the outgoings to gov/Petrotrin. As for Ortoire/2019 they should still have sufficient cash flow to at least target an initial low risk high impact well. If successful they could always farm down and/or look at alternative methods if they wish to push both the 2019 development program along with Ortoire exploration/appraisal. Considering all of the above, the investment case right now is compelling at current market price. As stated, TXP is being affected by the wider market sentiment as opposed to the fundamental investment case.

Some big names on that list and another excellent update. One bluechip has already issued a LOI for offtake and 6 more still at the table. Gov grant for upto £40m of funding submitted, FEED completed, Islandmagee given PCI status and updates on financing discussions expected near term.

Yep does not matter since a new application has been made outside of that contested with the gov parties. As for the cash call, fully funded until late 2019 - also indicates why both Brandon Hill and their directors have been buying on market at prices higher than current.

You wouldn’t think Chinese consortium with all approvals have just sunk $200m in here for a 50% stake at appraisal and exploration.

After OPEC cuts, 1.2mn barrells https://www.livemint.com/Industry/2zPczu5UuF8wFsbEKIKd7K/Oil-prices-fall-as-OPEC-awaits-Russian-support-for-supply-cu.html

After OPEC cuts https://www.livemint.com/Industry/2zPczu5UuF8wFsbEKIKd7K/Oil-prices-fall-as-OPEC-awaits-Russian-support-for-supply-cu.html

https://www.livemint.com/Industry/2zPczu5UuF8wFsbEKIKd7K/Oil-prices-fall-as-OPEC-awaits-Russian-support-for-supply-cu.html

https://www.brrmedia.co.uk/broadcasts/5c09456a96a7b725bb67c3f6/infrastrata-shareholder-meeting-2018

certainly a heavy weight of upside from 0.75p

Superb update today, really is testament to the team and how far things have progressed. With a valuation of around £7m this is massively out of kilter. Last remaining warrants being excercised is bolstering cash position and submission of FEED now in for the final part of the EU grant. Additional grant submitted for £40m and now financing discussions ongoing around project level equity. So many positives and with an extension of a 20 year life to perhaps 40, the inclusion of a potential additional 15 caverns and the land outright owned by INFA this is in a perfect position. First of 6 offtakes have submitted an LOI (bluechip) and CEO has lumped in over £350k on market to increase his position. All indications are lined up for a significant bullish move. If the ceo saw 10p as possible prior to a double mine life and an extension of caverns from 8 to 23, what is the potential now? There is clearly huge demand here.

Photo the plan as per the latest Paul Bell interview is to high grade the immediate low risk targets within Ortoire as initial drills. One being a twinned well to a previous gas discovery which was located in the 60s prior to implentation of gas infrastructure in the area. There will be drilling in 2019 to target Ortoire, the number of wells will be dependent on initial success and will be paired alongside a further 10-15 development well program which alone should take daily production to over 3000bopd. (There are over 200 targets currently across all blocks). If a success case is made against one or two of the initial Ortoire targets it would be transformational for the company and PB alluded to move funds to refocus on further high graded targets in that block. Needless to say it’s an excellent run ahead in terms of news flow and there are still 6 of the 14 2018 wells still to come online so we should expect in the region of 2250bopd on completion of this alone. I have always likened TXP to JOG. The low MCAP and low risk success case would result in a similar if not larger move in the companies valuation.

P10*. Additionally the Central gas prospect at Ortoire is around 2.1TCF.

Photo, details are seen in the latest presentation below; https://www.touchstoneexploration.com/wp-content/uploads/2017/06/Q3-2018-Corp-Presentation-FINAL.pdf Slide 20 onwards, for example the Balata South West target alone has a P50 OIP of 819mbo.

Make that +5%

+2.5%