Touchstone Exploration Inc (PBEGF)

[pro_s2009]

Big short position in Europe.

Euroclear's latest Stock on Loan(short) Report published today:
8.65% - Touchstone Exp / (up from 7.14%)


So short positions in TXP in Europe are "signifcantly high".


One assumes the shorts were basing their position on Coho being late and so TXP need more cash for their exploration wells.

Obviously Paul has now thrown a spanner in those works, as Coho is delayed yes, but they have re-worked the plans going forward and will now go "all development" and exploration pushed into 2022.

So now I see a mega spike ahead all being well. Shorts will want to close (or significantly reduce) before Royston results late July. They will not be happy with the current high oil prices (meaning TXP oil production is making good money) and the moved around plan for the coming 6 months which mean that Coho being late will not mean any need for any placings.

Looks like the shorts made an error of judgement and now find themselves staring at some issues closing their positions.

No doubt they will be using their "mates" to talk to TXP about they are willing to invest in the company and why not do another placing at say around 120p a share and take all that extra money and speed things up.............all of this of course so they can close those big short positions with no pain.

Hopefully Paul tells them to FO.......