StageHi Stage. I seem to have a habit of being too conservative on my price prognostications. I knew this stock would get hotter for several reasons. Many bought this stock last year waiting for the huge potential this company has in the SASB. There were many eyes on this stock anticipating due to the fact they are drilling in elephant country next to and partnered with Turkish Petroleum massive gas find which they have four producing wells.
We all knew of the last TCF reserves report with the 7 proven wells and the 10 high probability of success (POS) wells. Never knew today news was coming and also caught me off guard when they announced the well work overs at Cendere. With today’s news of increase of surrounding exploration area by 16 fold this could really be a monstrous development. Kudos to the CEO for locking up the additional permits.
I have always believed a dollar would easily be breached pre production and heading for $2 first well tie in to the existing infrastructure (thank you Turkish Petroleum). I also stated a few times on this board stock price will be heading towards Touchstone’s (TXP) current stock price ($2.50~) into 2022. We seem to be accelerating to $1 at a faster pace than I first thought. Beyond that let’s see how the addition of cascading well tie-ins proceeds.
As the stock price rises sellers will have reduced shares or no shares to sell in equivalent quantities. If they sell without holding a core they will have to pay higher for the same shares. That happens in an overall rising price environment like we currently have here. That should continue overall because of the good fundaments of the company and the promise of huge revenues. If/when this company becomes cash flow positive, which should happen after the first few well tie-ins. Then we will be talking about other possibilities such as a London listing the CEO seeks and/or an NYSE listing. Maybe even a dividend.
Let’s not get ahead of ourselves as any thing in the world could pop up unexpectedly (like covid). Keep that as a dream for now. 1 dollar is coming for sure.