Member Info for tidd83

And a fantastic interview.

Nice to hear Cas2 blew them out the well with such excessive gas pressures.

Cas3 drill results should come soon then potential for Cas4 and onto B pad?

I still think 14k boepd will be conservative, I’m expecting 16k+

Certainly rings a bell R8, like a blast from the past!

Where does the time go at all, hope all is well with you and family? Good to see a familiar “name” after all the years!

Supersport, good morning.

Apologies for the delayed response, I am only just catching back up with recent posts. You are indeed correct and have a good memory.

Still hold all my original stock and have added more over the years. Heinsite is a wonderful thing and perhaps should have taken some profits on the big ride up but I won’t lie nor proclaim to be Warren Buffet. There was a reason I didn’t sell and the reason very much remains. The assets TXP are sat on and the resultant production will in time command a much higher SP than the previous highs and that is the reason why I am patient.

Someone steadily and quietly picking up £10k chunks trying not to move the needle

TXP is one of the few AIM companies who actually deliver. It isn’t a lifestyle company and over the years have delivered. I take my hat off to PB and the team, to turn a microcap to a small cap with potential to move to mid cap in the near term is a huge achievement.

Production since inception is circa 800% higher with the potential to double again in the next 6 months. With facilities designed to take 40k+ boepd a day and a huge acreage position with 229 exploration targets still to drill (on top of development) the company has huge potential to grow all funded from cash flows.

With all permits in place, gas contract completed, facilitates built and 100% owned, strong free cash flow and a huge portion of land with potential coming out of their ears it’s a rare find. The market hasn’t moved yet but as things stand TXP is due a significant move up in SP.

The debt facility is an advance of future revenues and allows for the fast tracking of development. Carried by sensible debt provided by banks as opposed to equity.

As cashflow increases from expedited development then debt will reduce and future exploration and development will be funded from cash alone.

As for the sidetrack, a nice problem to have - they sidetracked Cas1 due to excessive gas pressures. They didn’t lose control of the well and the extent of the reservoir has been increased massively.

Cas3 spud and Coora drilling too - two bits turning at once whilst the ground works are done to massively increase production to circa double again. I’d expect to see 15-17k boepd by year end.

Given TXP we’re initially hopeful for achieving 5k by slow growth we are already double that and due to double again near term excluding all other exploration actitivities.

If the Cretaceous drills were to deliver then all bets are off as to where this could go.. it would dwarf all discoveries to date by some magnitude.

Not sure if this is visible to all but worth a try;

https://cdn.discordapp.com/attachments/905365337682358302/1209112290700304384/IMG_8856.jpg?ex=65e5bc92&is=65d34792&hm=8c1f85ee104a1eeecc522d737f4980cf9c35efe478363844f28d99793cbdda51&

Plenty of progress being made on all fronts and looks like good in-roads being made on the flow line from Cas C.

Increased choke size, additional perfs at deep and 2 wells with a potential third being drilled at Cas C could see production increase beyond the forecast 16k boepd - yet almost doubling again.

Having read Discord a standout point made by Kalleklovn reads;

“Q4 22 vs Q4 23. 2229 BOE/d to 8500 BOE/d Production is up 281 %”

With that in mind, Q24 could see a doubling again and yet current share price is circa 33% less right now than it was in Q4 22.

Perhaps even the drill has begun to turn at Cas 3, shallower depth on a warmed up rig - should be completed much quicker.

Good to see Canaccord estimating production rates close to 16,000boepd by 2025. That’s offshore rates being done onshore at a fraction of the costs.

200+ drill targets - ahead of any land expansion, they are asset rich.

Cas and coho just two strings of the bow.

Kraken, a whole different beast - Massive Suriname size exploration at a fraction of the drill cost.

Not a fan of Zak Mir, regardless of technicals 66p is a very low target given what we know to date and the success with the drill bit again on todays news.

The company are pregnant with a portfolio of drilling prospects mixed with development and exploration and with imminent news on acreage expansion this portfolio is set to grow significantly.

The company are self funded to drill and throwing off quantities of cash which is increasing over time, all facilities are owned they are masters of their own destiny - an enviable place to be in. At these prices they risk being snapped up by a bigger fish, as was the case by BP/Shell before they swallowed Aventura based on their discovery of Carapal ridge in the neighbouring block.

https://www.bnamericas.com/en/news/Vintage,_Aventura_Conclude_Initial_Carapal_Testing

Couple that with;

· Completed the first stage of additional perforations at Cascadura Deep-1 where we are currently monitoring initial increased pressure and production rates.

Little bit more volume and this will move fast - I must admit, I didnt epect the RNS today - the fact they had to stop the drill due to excessive pressures (again) on an even bigger rig has brought the news out sooner and caught many by surprise. Market still not fully woken up

The significance of this well should not be underestimated, the bulk of production is from Cas at circa 8500boepd, these two wells alone could conservatively add a further 5500+boepd alone almost doubling production again.

Then there is Coho and Coora!

Out at 53p, this has a long way to go..

Huge derisking event and a great update all round.

Significant gas pressures that they again could not even TD the well even using the bigger Star Valley rig. Moving straight onto CAS3 and increasing production facilities upto 140mmcfd shows you the expected potential.

This is huge news, it also confirms the model and shows a further extension of the Cascadura reservoir whilst remaining open for even further expansion beyond. I would not be surprised if/when all this is proven up that Cascadura alone will hold circa 1TCF gas.

At these levels and with production now firmly on track to reach 14500boepd, with additional drilling to a commence shortly on multiple fronts and with production figures already throwing off substantial sums of cash this needs a major re-rate.

Even if it doesnt come tomorrow - news isnt far away. Very cheap down at these levels, good to see it finally awakening

Taken another chunk, volume looks to be picking up now. Could see a move on the cards and rightly so at these levels.

A few more to the pot at these levels. I second the post made around Discord - whilst this BB may have been quiet there is a lot of chat being made in other channels.

Cas 2 results should be known shortly before hopefully moving right on to Cas 3. Success here should push the needle from circa 8600 boepd on current production to the targeted 14500boepd by YE. Coora and Coho wells to follow, and with infrastructure already commissioned to accommodate the increase in production (bar a short pipeline to hook in) this looks like a very good base to jump from.

Acreage award news and increase in debt based lending also sounds like a given from listening to the recent presentation. Worm is about to turn.