Member Info for TrekMadone

Here’s the Q2 results ppt.

7 through to 8 mins, slide 8 and 9 about increasing the divi during the low HC prices and covid!

Rusty is right on his game! It’s an excellent presentation!

I liked the peer comparisons and peered into the bottom LH corner of the slides for references! Investors will know it’s a numbers selection and not apples and apples but nonetheless the gaps are very impressive!

I enjoyed Eric’s slot he certainly knew his numbers! He had a defo win about using the experienced O&G ‘old school’ engineers and asking them for their ideas to improve the business. That included plugging and well efficiency which later transcribed to tangible prod improvements!

I like that as it really shares the ownership of results! And have always employed such empowerment in a past life. It’s people that deliver the difference at the end of the day!

Anyways must say though, not that I am a body language expert but at around 22:30 when Eric mentioned ‘swaps’ I don’t think Rusty was comfortable! Well it was a different shuffle to the one at 27:30 mins in! Lol!

There’s always a moment and of course I most likely read it completely wrong!!

Still what a great presentation and add that to the director buying today albeit ‘small’ but at SP ath’s that’s a pretty good endorsement!

However, and I always call it as I see it even though I still have a significant position here.

I put forward a question asking if there was any operational impact from the severe floods in the Appalachian region and asked what the company was doing to help the community. Especially given the loss of life and the skills and equipment DEC have!

My question was not answered and nor was my earlier email now nearly two weeks ago on the same subject!!!

DEC quoted weather events in this presentation as a valid excuse for a dip in past performance!

Now like it or not the ‘silky guys’ have chosen to ignore the question and ride the wave!!

So investors be aware myself included! They are NOT imo trustworthy!!!!

They have deliberately chosen to avoid any discussion about one of the most significant weather events in the Appalachian region that has destroyed roads, power supplies and cost lives! Not even a comment to say only a few of our wells were effected or we have abandoned plugging whilst we help the community!!

I will be emailing the black hole IR team again!

https://www.investormeetcompany.com/investor/meeting/investor-presentation-147

Usual caveats

Trek

Solid results from Touchstone’s legacy oil business, although this should be the last quarter of it being a pure oil producer as its Ortoire gas discoveries are close to start-up – Coho is expected on stream soon and Cascadura is on track for first gas in early 2023. The results were restrained by Trinidad’s regressive upstream oil tax regime, whereby the state takes much of the upside from the oil prices above US$75/bbl via the Supplemental Petroleum Tax (SPT). However, this will not apply to Touchstone’s impending gas production, although pricing here is relatively low/fixed at ~US$2.2/mcf, inflated at ~2% p.a. Nevertheless, what Touchstone lacks in leverage to high oil/gas prices, it will make up for with strong volume growth, which we expect to expand ~10x between FY21 and FY23. This drives a strong increase in cash flow, allowing further development of the Ortoire block resources and phase 2 of its exploration programme to commence.

Robust legacy oil business performance. Solid results from Touchstone with legacy oil production rising 2% q/q to 1,402 bopd. Oil sales jumped 66% q/q to US$12.6m on the back of a 65% jump in average oil prices to US$97/bbl. This contributed to a 19% increase in operating netbacks q/q to US$45/bbl, although much of this was eroded at the net line due to higher tax. Trinidad’s Supplemental Petroleum Tax (SPT) kicks in at oil prices above US$75/bbl, resulting in income tax expenses rising 3.5x to US$1.55m. This saw Touchstone report a Q2 net loss of US$0.3m, broadly flat y/y after US$0.5m of provisions for oil spill reclamation costs in the quarter caused by vandalism. Funds flow from operations in Q2 of US$1.1m were down 6% on the same period last year while capex was 50% lower at US$3.4m, with expenditure mainly focused on the Coho and Cascadura developments. This left Touchstone with quarter-end cash of US$9.4m and net debt of US$19.4m.

- Major growth phase ahead. The expected start-up of Coho this month, followed by Cascadura in early 2023, represents the onset of a transformational growth phase for Touchstone with FY23 production of ~14,000 boepd expected, 10x last year’s reported volumes. It brings with it a sharp increase in cash flow, which will allow Touchstone to further develop Cascadura and commence the second phase of its exploration programme on the prolific Ortoire block. The onset of its transformational gas growth phase is expected to materially boost cash flow over the next 12 months. We expect cash flow to exceed US$50m in FY23, providing significant funds for Touchstone to start phase 2 of its exploration programme on the prolific Ortoire block.

Trek

Should have said ‘or’ instantly on my post below. But you can only just bag 10% at DEC now following results and director buys.

Anyways, SP here been weird. Huge effort of late to pull back below 580 on low vols. My GUESS is it’s to attract sells , shake out stock. I base this on the rapid recovery thereafter back to the 90’s.

Of course it could be margin trading. I have done a bit here as I have a low anchor SP so sell ones trading pot over 600 and buy back in the 90’s but it’s small fry given the spread. I almost got caught NT as well. I mean you would think that’s unbelievable here but actually the liquidity is not that great! Better sitting wherever one is comfortable now imo.

We had a lift following the better US inflation numbers of 8.5%but it pulled back today.

I see PAY as not completely but almost inflation agnostic as we benefit from either more meter cards/shop local/cash or we get the volume in a growth scenario.

I am a buyer below 6 but above that we need more news and I think that’s in line with the market view.

All said when if the world comes to its senses this will be a great recovery play as it throws off cash, but then so will just about everything else!

I am still expecting a bid!

Usual caveats

Trek

Well at least I learnt from my earlier mistake! Time to average em back in!

Usual caveats

Trek

It depends where in the cycle you buy them. If you catch it right you will get a capital gain and regular income often in double % digits after a year or two of instantly as in the case of DEC.

Usual caveats

Trek

Not sure when AR is but results end of month.

Likewise very frustrated here at lack of news.

Either acquiring or being acquired?

USB up to tricks again!

Who knows.

Usual caveats

Trek

Well glad I stuck here.

Insurers getting a lift from weaker inflation numbers. I mean 8.5%…whoppeee! Lol!

Typically the one that got the biggest boost was ABDN whose results were imo awful!

There don’t you just live how Mr Market keeps us guessing!

Usual caveats

Trek

Getting a lift now from last months softer inflation numbers! There’s a catch out!

Anyways out now with good profit. Can have another go later.

Good luck with your investments

Usual caveats

Trek

Sorry meant to add their service is excellent but I think they are a tad expensive. I do a lot of trades so it costs in for me.

Trek

Hi denby ,

I use ii, have a frequent trader account. It’s 3.99per trade and 19.99pm subs but you get 2 free trades that offset the subs.

You can see fees in table. They change slightly in September

https://www.ii.co.uk/our-charges-b

Trek

‘ All things being equal it will drop around 7.6p, equivalent to the divi, tomorrow.’

It could, we don’t know obviously but I expect a dip to 200 and May even go lower in the following days.

The company has honoured the divi, stopped the buy back etc but the dip below 200 was driven by cost rises. Inflation and costs haven’t changed so one could argue that it should restore the post results sp reaction. Absent of divi, what’s the point of holding for 6 months, folk will likely seek safety of cash.

Smart move is to sell today. Well that’s my position and if you have a thing for DLG buy back in tranches at a lower price after the divi for the same the same amount of shares.

That way you may just have bagged your income or more without the risk! Obviously factor in spread and trading costs. Mine are only £3.99 so it’s not really a factor.

There ya go!

Obviously it makes no odds to me either way.

Usual caveats

Trek

Indeed it looks like in the absence of news the chart is playing out.

1p glass ceiling so plenty of scope for traders to grab a few %.

What we need is news to turbo the sp/chart momentum.

Could be a perfect storm with POG- and we all deserve it after the sub 8 purgatory!

Usual caveats

Trek

https://www.leisurelakesbikes.com/bikes/road-racing-bikes/trek-madone-sl-6-road-bike-2019-blackquicksilver__309668

I used to be a 200mile a week guy but things change. Now it just comes out on sunny days for a leisurely cruise. I now use the mountain bike more on the trails.

Good work photo, you can double that effort for Devon and Cornwall miles!

Enjoy the day, it’s a gift!

Trek

Great appt and on top of solid momentum.

This is the move I have been waiting for and will likely gradually sell into the rise. Nothing to do with Hemo. Just having to rebalance as need to plan for income looking ahead.

There’s always an opportunity to get back in later for another run but if this gets to 1.8 that’s a significant profit for me.

Good luck guys and chill!

Usual caveats

Trek

How it works…..

“ Digital payment company, PayPoint, is expanding its range of solutions available to help local authorities financially support the most vulnerable people in their communities.

The launch of Love2shop Essentials Range, developed in partnership with Appreciate Business Services, the home of Love2shop, follows the success of PayPoint’s Cash Out offering.

Employed by a range of organisations across the UK, including energy companies, charities, local authorities, and the Department of Work and Pensions, PayPoint’s Cash Out disburses up to 210,000 emergency fund vouchers at a value of £16 million per week.

The addition of the Love2shop Essentials Range to the PayPoint emergency funds proposition, means local authorities now have even more options to provide immediate access to funds for food, clothing and electrical goods.

More than 20 household brands are available to Love2shop Essentials Range beneficiaries, including Argos, Asda, Currys, Marks & Spencer, Primark, Sainsbury’s, Sports Direct and Tesco. Local authorities apply for the funding online on behalf of a resident which will be delivered as an e-Code via SMS, email or in the post. Once the e-Code is activated by the recipient it can be redeemed at any of the partnering brands.

Danny Vant, Client Services Director for PayPoint, said: “This new scheme is simple for both the local authority and for the recipient of the funds. If a resident needs urgent help purchasing a new fridge, for example, the council will set up the e-Code to be used in one of four high street electrical retailers. However, if they need help buying food the e-Code can be allocated for use in any one of five main supermarkets. With the cost of living crisis deepening, this type of flexible support is more important than ever, and it needs to be provided quickly to ensure the funds are available to help people immediately.”

https://www.businessleader.co.uk/paypoint-and-love2shop-collaboration-creates-solutions-for-vulnerable/

Trek

Oh well stopped out at under 15.5p. Don’t normally use stops in case of left field events but I put one in just in case of a poor reaction to the ppt as I was out today.

Must say I didn’t expect it to go!

May start again later from a few bucks down here now though.

Proving hard work this one like chasing after the wind!

Much easier elsewhere atm!

Good luck with your investments

Usual caveats

Trek

Trek

Just to finish off this string as I said I would post a reply. ii got back to me with an apology, below. Anyways I have submitted the form on line for Mrs Trek. All straightforward, they present you with pop up boxes. So if anyone is put off buying DEC due to form filling. Email ii and they will send you a how to example completed form. Then you are away!

“ Thank you for the secure message.

Apologies, the stock is a UK incorporated company but the dividend is subject to US withholding tax, if you submit a W-8Ben the withholding rate would be reduced from 30% to 15%.

We do not support currency elections at Interactive Investor, any US dividend paid to your ISA would be paid in sterling GBP.

To invest in US shares within a Trading Account or ISA, you must complete a W-8BEN form………”

Usual caveats

Trek

That’s it the 350k gone now. NT for 5000 shares, yes £46!

Need to move price up to get sells.

‘Easy money’ if you just happen to be in the right place at right time. I reckon I could sell the 1m at end of day for profit but why. I don’t see it changing tomorrow.

There isn’t the liquidity here that there was before. I mean that this time as a positive.

Usual caveats

Trek

Now 8485 for 350k sorry trade dropped in. After that NT.

Usual caveats

Trek

Here she goes. I took 2 x 500k. Couldn’t buy 1m as NT. Now can only buy in 200’s on ii.

Any traders would buy now to sell into news. I am not but that’s what I would expect.

Let’s see.

Usual caveats

Trek