Touchstone Exploration Inc T.TXP

TXP needs a much stronger board of Directors

[Davidblackgreen]

Worst daily loss in years but still slept well but woke up irritated this morning that I never listened to my own concerns! Irritated with myself not the company!

PB also is I think still probably talking bloxx in respect to testing this weekend. Not that it’s material whether it happens on Saturday morning or Tuesday but this speaks of a man desperate to please, which is not a great sign and why in part the Chinook issue arose.

But the bigger issue here is not the gas but rather the Company getting too far ahead of the facts. That could be resolved if there was an effective board to hold the three operational managers to account. At present that’s not the case so it’s a glaring issue if this company plans to grow up.
 

Currently this is a "Three Amigos" company with a decorative board.

So going forward, for me, treble the timelines and expect twice as many bumps as PB suggests. If I had been doing that I would have slept every night soundly.

Now expect Royston to be drilled but post that a focus on getting Cascadura’s production wells in place with exploration drilling taking a backseat whilst they consider what they got wrong.

Although they probably will also take this time to go “like the devil” at the legacy oilfields.

Those wells at $50 oil now look low risk and have a quick payback plus it would keep that big newish Canadian drill going nicely. It should be able to drill those targets cheaply and and at speed. As I understand it there is quick mobilisation and demobilisation with that rig.

Steelhead in that scenario might be a while.

[Goaweigh]

Dusters are never easy to swallow but that's the game we are playing, no guts no glory. Paul was pushing caution , the speed bump analogy he repeated constantly, I don't know of any CEO who screams out the risks of investing in his or her Co. and thought Paul was actually over doing it sometimes. We know we know, you don't have to keep repeating it. Optimism drives high risk resourse

[Wildcattter]

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