RE:Very good swap deal.........Excellent news !
Malcys comment :
[url= https://www.malcysblog.com/2023/01/oil-price-diversified-energy-touchstone-serica-and-finally/] https://www.malcysblog.com/2023/01/oil-price-diversified-energy-touchstone-serica-and-finally/[/url]
........This is a very useful property swap assuming that is that the technical team have correctly called the opportunities that give substantial potential upside at Herrera and there is no reason not to think that the deal will be substantially net positive for it.
At the Royston discovery and and at the Ortoire block these deals not only protect existing finds but also allows the company to extend them into the acreage. Such portfolio reorganisation is part of a high quality team being aware of adding reserves and production when it can do deals which provide added value.
I have been convinced for some years that the team at TXP have got a great, long term plan in place by which they constantly upgrade the portfolio in a meaningful scale. The overall quality and size of the asset base has always been a major reason for my positive view on the shares which rallied on original discovery and definitions of such a sizeable portfolio.
Now that along with moves like this announced today, together with the successful bringing on of Coho last year and the imminent delivery of Cascadura and of course Royston to come means that a fully funded TXP can justify a Target Price of 200p per share and as I write the Bucket list for this year I am inking in the company with its substantial potential upside. ..........