RE:RE:RE:Can’t understand You can stay out if you want. The issues related to NGC and Shell are crystal clear at this point and definitely not a red flag. Not even a small red flag. There has been no recent dilution and none is planned.
The biggest issue right now is the ugly word "water" and trying to understand what that means in various zones.
Positives going forward include progress on cascadura (the ultimate anti-dilution vaccine), Coho hook-up (minor but symbolic), some smallish results from the recent legacy committment drills, some update on prolobged Royston1 test which is being produced. And within 6 months drilling of Royston Deep and KRAKEN!!!!
TXP is speculative but it is a great story, the story is intact, and it is very early with lots more to come.
In my opinion TXP is immeasurably LESS risky than two years ago when they were just starting a first phase five well exploration project on Ortoire block and had not found coho and mighty cascadura (two wells) and had not found oil at Royston. There was no series of development wells in play (one at Coho, 4-6 at cascadura, 2-3 at Chinook, one immediately at Royston with more to follow. There was no second phase of exploration selected and certainly Kraken(just a concept) had not jumped right to the front of that phase. They also had not mobilized a modern drilling rig from Canada and put it to work. It seems like not much has been happening because the wall of cash has been slow to get on stream. But if you look back a LOT has been happening. And if you look forward you truly see how early we are in this story. I am happy to watch it unfold. IT is not the riskiest spot in the investing world right now.