Member Info for tidd83

Production was boosted*

Eddie in answer to your question; The plan for 2018 is to drill between 10-20 wells, depending on prices, and to optimise production with workovers. Ideally there would be two of these a month. Touchstone will drill a further four wells this year after boosted was production more than predicted.

Canadian broker Mackie is keen on the Touchstone: “Touchstone currently produces about 1,500 bbl/d of a medium to light grade crude oil from about 11 oil fields in Trinidad. “Most of the fields are very large and have been producing for decades but have only recovered 2% to 13% of the original oil in place. “Touchstone has booked a total of 78 development locations and 122 recompletion candidates providing years of low risk drilling and recompletion opportunities."

Another chunk of CF gone, I’d imagine the same late trade tomorrow for 13th and then one weds to show today’s. They’ll be gone tomorrow imho

Can’t be far off given the volume.. then the real rise should kick in.

Eddie as things are they don’t even need to do anything, just let the cash roll in. They are already massively undervalued even now. The additional wells could push this on par with TRIN.

Another 86bopd with the extended flow and their estinmations so 1600+ should be achievable. 1650-1670bopd top line as we stand before the additional 4 wells before year end.

The final two wells of the 2017 drilling program drilled on the Grand Ravine WD-4 block have been on production for the last 49 days at an average combined rate of 97 bbls/d; current field estimated production from the two wells is 139 bbls/d.

Achieved July 2017 and August 2017 crude oil sales of 1,349 and 1,591 barrels per day ("bbls/d"), respectively. � ������ The first two wells of the 2017 drilling program drilled on the Coora 1 block have been on production for the last 90 days at an average combined rate of 202 bbls/d; current field estimated production from the two wells is 246 bbls/d.�� ����� The final two wells of the 2017 drilling program drilled on the Grand Ravine WD-4 block have been on production for the last 49 days at an average combined rate of 97 bbls/d; current field estimated production from the two wealls.

1591bopd off the top of my head

Yes they should be out this week hopefully.. I’d imagine the bopd will be over 1600 with any luck. Market should like that.

1750mk1 I agree I’d assume the seller will be out today/tomorrow at the latest. It will be more difficult to build positions as this clears however fair value is much further north than here just accumulate and sit on them.

Investor presentation with Q&A, Company are engaging with SHs well. I like the bit about rerating shares and improving liquidity to be on par with peers. £12m MCAP whilst peers of CERP at £44.7m and TRIN £52.2m. TXP fits right in the middle so in balance should be £48m MCAP or a share price of 46p comparable.

Eddie at £12m there is more upside than down.. it will go further

I think next week should see a very good move north, the rerate is beginning and with no seller we should begin to reach nearer fair value. Some good bases are being built at each level, as stated Canada closed at 10.8% up Friday, most volume this company has seen for a long time and it looks like it’s being noticed now for the right reasons. It can’t stay this cheap for long; https://web.tmxmoney.com/quote.php?qm_symbol=TXP

If we go by the recent volume and take a conservative view that they have flipped 500k on Thursday and Friday (albeit delayed announcements) they may only have 750k left to shift. We will have a better idea Monday when the late prints appear unless the SP jolts north, in which case they’ll be out. Canada closed up 10.8% on Friday

Have a look at the figures in the last presentation especially slide 4 and 8. https://touchstoneexploration.com/wp-content/uploads/2017/08/Road-Presentation-Q2-2017.pdf Ex divi means ex dividend, txp aren’t paying any divi (yet) so I’d assume it’s a mistake on LSE listing site.

Kums the balance sheet is fine, they should also be reaping the sales rewards back from the additional production post completion of the wells. The 4 wells this year may be covered by existing cash or they may wish to raise for them, I wouldn’t be overly concerned if that were the case as it will be money we’ll spent and push them on to 2000bopd I’d imagine. The company valuation is already too low so even with a little dilution the value an additional circa 400bopd would bring in would be more than worth the investment at this stage, let’s see what the bod decide to do as POO will also play a factor. CERP recently raised at 5p, within the week their shares touched 8p so any funding if at all required does not mean bad news.

Opportunity to add if we dip back in to the 11p range. This has to be the cheapest decent producer on the market at the min.

Just consolidating, just buy the dips it is moving nicely - still plenty more upside yet.