RE:RE:RE:Canaccord raise target price to 200p
I like your points and I also buy the story. I have a little more than a tenth of your shares but an equal amount of conviction.
It does not all have to come true to be worth 5 times where TXP is at right now. Even 10 times.
Coho is true and Cascadura is true. If Royston is as solid as Cascadura and they start a development plan to produce first the liquid rich gas and then the oil from intermediate sheet (once oil pipeline for Royston is built) then they have enough to do for 5 years of spectacular growth. First gas from Royston likely to be 2023.
Adding something from Chinook once the Cascadura oil pipeline is buily is gravy. Kraken is still a longshot but is more than gravy, more like a pot of gold if it proves true. Steelhead and Guabine and ultimately Bass and other explorations are just unknowns.
Legacy block is not exciting but is also real. Whether or not they find something deeper there that is commercial. Then it becomes more interesting but still not a Cadcadura or a proven Royston. Royston rsults come soon, next week or the week after. Pretty binary - yes or no.
Other short term news (before year end) should be some updates on the 4 well drilling program on legacy leases by the Star Valley rig. Plus first gas at Coho which will be important for symbolic reasons mainly - funny to say that about a well that will instantly double production of the company when they turn the spigot - and yet it is very small next to proven Cascadura and hopefully soon to be proven Royston fields.
Also maybe the will get some adjacent leases in the bididing round early next year. They will have the money to meet the committment requirements. They are in favor with the Energy Ministry for sure.