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Touchstone Exploration Inc T.TXP

Alternate Symbol(s):  PBEGF

Touchstone Exploration Inc. is a Canada-based company, which is engaged in the business of petroleum and natural gas exploration, development, acquisition and production. The Company is active in onshore properties located in the Republic of Trinidad and Tobago. It operates Trinidad-based upstream petroleum and natural gas activities under state exploration and production licenses with the Trinidad and Tobago Ministry of Energy and Energy Industries (MEEI), Lease Operatorship Agreements (LOAs) with Heritage Petroleum Company Limited and private subsurface and surface leases with individual landowners. It is focused on onshore oil and natural gas properties located in southern Trinidad. With interests in approximately 145,000 net working interest acres of core exploration and development rights. Its core focus is on exploration and development on the Ortoire block and development production on its five onshore lease operatorship properties (CO-1, WD-4, WD-8, Fyzabad, and Balata East).


TSX:TXP - Post by User

Comment by stanleyon Jul 31, 2024 8:17am
110 Views
Post# 36155806

RE:Touchstone Notes Trinity 68pps from Lease Operators Ltd

RE:Touchstone Notes Trinity 68pps from Lease Operators LtdLurk & Learns + Domus:

RE:"Somehow we are still not getting any (market) indication of where things will eventuate; vis a vis the 2024 Q4 exit 14000 boe guidance."

Welcome to Domus (especially wrt his positive(?) expectations for the Cascadura complex come Q3/Q4) and Tad others making their points on this forum.

Point to ponder is Trinity (as per Discord discussion) appears to have overleveraged their cash flow vis a vis an underwhelming exploration "bet".

Thus making the TXP (say 60p?) offer for Trinity opportune possible based on potential financial (pool of deductions) leverage, HR & legacy wells management c\w secondary recovery (especially stimulation expertise).

After a "slam dunk" expectation, Trinity gets a confirmatory third party ("white knight"(?) (value?) opportunistic(?) consideration from LOL, which may or may not legitimize (aka justify) TXP approach to/for Trinity's assets in the first place/instance.

Is TXP in a win-win situation? i.e. did TXP manage to augment (or deplete) the treasury while apparantly/also buying time (gallay in Trini speak) for Domus's expressed positive outcome for Cascadura's next "wall of" gas. Hopefully not "chatigne"(pronounced shat-ine) based.

Answers to these two(2) burning questions (obviated by a stand still scheme?) will be expected in less than a month's time.

Some on Discord questions LOL's ability/agility "access to funding" for their 68p offer in a timely matter; instead choosing to speculate that there could have been some proxy discussion(s) with other(s) looking to block TXP's progress. 

In conclusion, is TXP in a win-win position? i.e. if they get Trinity or not. Or is/was it a "strategic" distraction/misdirection while waiting for the Cascadura "twin pipes" to connect the next two wells to the gas plant?

BWDIK? Does it mean that Trinity got a Trini style "macotious" second check (aka pseudo/pre due diligence) from both TXP & LOL to warrant the "bidding" interest?

GLTAL GLAP Caveat Emptor?

Cheers
Stanley


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