RE:My thoughts on the presentaiton info. Delay to drilling was a simple choice.
Wait 6 months, have Cascadura throwing off cash, drill away forever more, zero dilution.
OR
Place a loadof shares, dilute every shareholders holding, drill a few months earlier.
The oil and gas is in the ground, TXP now have 5 more years to drill the
life out of Ortoire, so a delay of a few months matters not. The upside
is it screws up all those who short sold expecting a placing to close
their short - not going to happen now. There was a rush before as the
Exploraton phase of the license was due to expire, however, now that has
been extended for 5 more years there is no longer any rush to drill
exploratiion wells or lose big chunks of the license area. Now they have
5 years with the whole of Ortoire before they need to take their
discovery areas and release the rest.
The whole situation changed with the 5 year extension to the exploration license with zero acerage loss.
https://www.investegate.co.uk/touchstone-explrtn.--txp-/rns/approval-of-ortoire-licence-extension/202203110700044246E/
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