Q: TXP has been doing well lately. Probably related to some drill results. What is it about the drill results that has resulted in the increase price?. Is there any other reason for the increase in price?
5i Research Answer:
Shares of TXP jumped by close to 25% after new drilling results were released, which were quite psoitive. The results showed that its Carapal Ridge-3 well encountered significant hydrocarbon-bearing sands over a thick interval, which indicates it as being oil and gas productive. This helps to indicate potential future production for TXP, and investor sentiment improved drastically. TXP also expanded its production footprint in Trinidad and expanded its infrastructure to monetize new wells.