Touchstone Exploration Inc T.TXP

Chances of a Private Placing ?

[Proselenes]

Some people have asked "Do you see a placing to raise some cash more likely now" ?

To which I have answered........yes I do.

Reason being currently work on Coho seems to be held up, no "visual" progress for weeks now after the initial burst to start with.  Next satellite image is due today.  I think Coho is now going to be late January at best, might slip to February.

The most likely time for any fund raise will be after results from the top zone in a couple of weeks.  Canaccord has just done a placing for PANR (Pantheon Resources) and will have to wait a few weeks for those people to flip their PANR placing shares (sell for a small profit) and get reloaded with cash for "another oil/gas explo company fund raise".

So yes, following this oil discovery and the "need for speed" to drill Rosyton Deep-1 and Krakken-1 now.......I dont think they can generate enough cash quickly enough and so will more likely now do a "quick" private placing now to tide them over until Cascadura is online.  if they do a placing then they can start with Royston Deep-1 perhaps in early Q2 2022.

Therefore in answer to those questioning, I would say the chance of a placing for some exploration cash has risen from 15% to now, in my view, 70% chance of an equity raise.

[Proselenes]

I should add the rationale that had Royston been gas.........progress would have been slower due to NGC etc......  less cost (as NGC pay pipeline) but also slow and steady progress. Less chance of a placing. Oil of course is "make hay while the sun shines".......oil price is high so you want oil production asap......its not like the much lower profit fixed price NGC agreement. So

[Utkant123]

So, the company would instead of using low interest rates on debt go for a dilution of shareholders knowing they will be gushing cash in the end of next year.  I find that amusing. Not saying that it will not happen but I find it amusing. IF they want to do a fundraising first they need to get a reserve report out and tell us what they can verify that they have found so that we at least can

[Proselenes]

It would be a minimal dilution really........nothing major.   If you look at the presentation both Royston Deep 1 and Krakken 1 are classed as "Exploration" drills and Paul has said he will not use debt for exploration. I can see the positives from a quick fund raise and I am sure most people will, given it will allow quick development of Rosyton oil and allow quicker deep

[Samsam17]

Hey Pro, what's your angle here? How many of your 700 k shares did you sell? Are you trying to lower the price by bringing up the  placement issue so you can buy lower? Investors bewhere this guy has his own agenda and don't trust him

[Utkant123]

He is FAR better than any of the bashers on the advfn board. How can an oil company go down in value when they do a MAJOR OIL FIND in an oil rich region where there is an oil pipeline 1,5km away from the well head. I keep on wondering how this is possible. There must be an explanation as to how this happens. And that happens at the same time as the ADVFN forum is overflown with bashers screaming

[smitlo]

I am hopeful for a big number too but the 84' of pay tempers my expectations a bit. I am assuming they now know what water looks like on this log and will stay away from anything close to water for test 3. My assumption is they shot anything that could be potential pay in test 2 and will use that knowledge to shoot only potentially productive hydrocarbon pay in test 3.  I am also

[Kadiddelhopper]

Check the Posts of Herman and Che7 on ADVFN, and re-posted on Telegram..... Noooo Placing!

[Proselenes]

Paul always replies with "its not on our radar".  And I am not saying it will happen, only I think the chance of it happening has now risen to 70% imo. They dont have to do it.......which will limit any chance of a bad low price if it happens....so dont expect any big falls to a severely discounted placing - not going to happen.

[Proselenes]

Not sold any. The angle is......open discussion.   Oil and not gas is quite a different situation now.  Gas would have been slow development, but oil will be fast track as its far more profitable and under the control of TXP. Who was the only person saying Royston would be oil..........me. I think I have a good handle on how things are moving along, and if we cannot discuss this

[tepid1]

Good to have open discussion imo. Have seen the posters on advfn claiming no placing but thats to be expected. advfns quite the trading site and talk of short term upside being stymied by placings is never welcomed. It wasn't on panr nor will it be on this one. Well priced placing would still be better than debt for explo imo so would be ok with it myself just don't go lowball, mates rates