Touchstone Exploration Share Discussion Threads

[the_gold_mine] 18/4/2024 19:17

TXP is making progress on the road & flowline project from our Cas C surface location to the Cas facility. Clearing of the flowline right-of-way is complete, and the roadway & culvert crossings are progressing, which will provide ease of access throughout the Cascadura field.

[dunderheed] 18/4/2024 12:57

EDIT as is the other two attendees I believe S93?
I also believe the nomenclature for said meeting is actually "an alley".
I try and learn something new every day, I do, me.
I'll get me coat and as ever all IMHO, DYOR, mumble mumble.

[spangle93] 18/4/2024 12:30

I can't see Malcy asking that question, kaos.

His technical knowledge is legendary ;-)

[kaos3] 18/4/2024 11:59

having my bad mouth running - we need the interview to fill my lower gap lol

well - there can not be many new facts told

i wish they would explain why the work over did not work as hoped for and what is going on with the licences ... the present situation

[zho] 18/4/2024 10:28

"Malcy, Will the interview be recorded and shared, if so when will that be please?"

Malcy: "Yes, I met with him and James Shipka COO yesterday. It was a detailed chat and we talked for over two hours, I will write up my notes soon."

[zho] 17/4/2024 08:25

FWIW, it seems that Malcy is meeting Paul B today:

[leoneobull] 12/4/2024 21:25

1000 investors thank Pro for his diligent research.

[eggchaser] 11/4/2024 17:24

lol I have now....

[chessman2] 11/4/2024 15:34

EC, Surely most posters have ashkv filtered.

[eggchaser] 11/4/2024 14:26

Dunder apologies, when using the ADVFN App and replying as I did to the poster referred to (as I have done with this reply to you) means that above the post number, the site presents my avatar with an arrow pointing to the name of the person being replied to - so clear to those using the App whom my comments were aimed at. The App also provides the ability to view the conversation which obviously removes all the other posts between.

That said, I would expect at least an apology from you within a reply regarding the misunderstanding as a fair trade to my detail provided and whilst I don’t suggest you down load the app, I’ll note instead your request or name the poster to save any confusion. The post has been edited to maintain status quo.

Like you, I would be more than happy to convey my displeasure in someone referring to me, in person as you have in your post… which I am sure you didn't mean given the context?

[kaos3] 11/4/2024 11:27

remember for what i was getting it
double boTTom

[11_percent] 11/4/2024 08:25

Cavendish research note.

Its free, but need to sign up.
There are a pile of charts which I can not post.



The discussion notes.

11/04/24

Operational update A mixed operational update from Touchstone yesterday. On the positive side, the latest Cascadura and crude oil legacy block development drilling has been highly successful with both wells encountering large sand packages. However, only moderate success has been achieved with the optimisation programme on the two existing Cascadura production wells, with Q1 2024 volumes impacted as a result of these interventions. Nevertheless, activities remain on track to hook-up and start producing from the two new Cascadura wells in Q3 2024, which should provide another step change in production, and we make no changes to our forecasts or 75p/sh price target.


Positive drilling update. Touchstone has provided a positive update on its drilling activities on the Ortoire and CO-1 blocks in Trinidad. On the Ortoire block, openhole logs and drilling data from Cascadura-3ST1 indicate the well encountered over 900ft of sand in the targeted Herrera Formation, with over 230ft of net hydrocarbon pay. This exceeds the 525ft of Herrera sands at Cascadura-2, although this well was suspended prior to reaching TD after high pressure gas zones were encountered. In addition, Cascadura-3ST1 is the first to cross the C-fault to the east side of the Cascadura structure, an area where reserves have not been previously assigned.

Production testing of the Cascadura-3ST1 well and the previously drilled Cascadura-2 well is still scheduled to commence in Q3 2024, producing directly into the Cascadura natural gas facility. Construction of the flowline from the Cascadura C surface location where the latest two Cascadura wells were drilled to the Cascadura natural gas processing facility is on track to complete in Q3 2024, and good progress is being made on increasing the gross natural gas production capacity of the Cascadura facilities from 90 mmcfd to 140 mmcfd on the same timeline.

On the CO-1 legacy oil block, openhole logs and drilling data from the CO-374 development well again delivered impressive results, indicating the well encountered c400 ft of sands in the Forest Formation and c300 ft in the Cruse Formation, delivering Touchstone’s highest observed net pay to date on its crude oil legacy blocks. The well has been cased for production and will be completed once the CO-375 development well, spud in early April, has been drilled.


Cascadura optimisation has limited benefit. Taking some of the shine off the release is the news that only limited success has been achieved with the optimisation programme to increase gas production at the existing Cascadura production wells – Cascadura-1ST1 and Cascadura Deep-1. Choke adjustments to both wells have only had a moderate impact while the additional perforations added to the Cascadura Deep-1 well had limited success. These optimisation efforts had a knock-on effect on production, contributing to Cascadura net sales volumes falling 21% q/q to 5,389 boepd and resulting in an 18% q/q decline in Touchstone’s Q1 2024 net sales volumes to 7,015 boepd. Within this, crude oil sales volumes rose 3% q/q to 1,166 bpd.

[joey1998] 10/4/2024 17:21

What a day!

[spawny100] 10/4/2024 16:04

Many thought Chinook and Royston were huge successes at first Paul; your handle seems very apt!

[paulhopeful] 10/4/2024 14:31

Great drilling results to my mind, that’s 3 successful wells in a row. Will be interesting to see what the new Cas wells can produce from both sheets combined together this time, the new gas separator has been procured for a reason. Cas 2/3 will increase reserves too.. from shore capital today, “ our financial forecasts and last published £1.10 share risked nav estimate are therefore ( confidently ) maintained”.

[ashkv] 10/4/2024 13:51

I am of the view that TXP will not be meeting even the low end of 2024 Production Guidance.

The below Assumes that both drilled Casc wells come online on 1 July 2024 / and the Boe/d TXP will have to be averaging for H2 to meet 2024 Mid and/or Low Guidance

Total H1 2024 Production (Boe/d) Assuming Q2 Same as Q1 2024 (7,015 Boe/d): 1,283,745

TXP 2024 Low Guidance -> 9,100
TXP 2024 Mid-Guidance -> 9,400

H2 Production Total Boe/d Production To Meet TXP 2024 Low Guidance: 2,046,855 or 11,124 (Boe/d) H2 Production Average

H2 Production Total Boe/d Production To Meet TXP 2024 Mid Guidance: 2,156,655 or 11,785 (Boe/d) H2 Production Average

[kaos3] 10/4/2024 10:00

a big thank you SP93

so i am back to not getting it. my brains fault entirely.

you did explain it with a superb real expert knowledge in my simp language - which is your genius trait.

[spangle93] 10/4/2024 09:56

well it depends on a number of things (such as scale of the kick) but the most likely explanation is that as part of the kick protocol, they would increase the density, then having calculated the higher pressure that gave the kick they drill the sidetrack with a higher mud weight designed to counteract the now-expected influx

When they say "high pressure" it's a relative term, not the industry definition

[kaos3] 10/4/2024 09:50

as always i appreciate the knowledge and the clearity and simplicity of the delivery Spangle93

but what bothers my gardening mind is

if they knew there will be high pressure /from past experience and from others like trin/ when they hit gas bearing sands - they shoul be aware and monitoring it/ they were not able to control it

but in the side track suddnely they could

why the difference

is it because the overpressure is released locally

[redartbmud] 10/4/2024 09:45

Txp updated today - and the share price is down.

All I can comment is that in future PB doesn't sign off the Rns with his name, instead he should use:

'Clueless in Calgary'.

red

[sleveen] 10/4/2024 09:42

Thanks.

Looks to me like the NGLs decline in bl/1MMscf/d is responsible for the majority of the Casca decline rate.

Circa 20/MM down to around 7/MM currently.

[spawny100] 10/4/2024 09:42

Heavy selling today so looks like going lower. Wtf is going on with casca production and why are they not even talking about it? Surely they're concerned? The wall of cash is turning into a dribble.

[spangle93] 10/4/2024 09:32

sleveen - well, "expect" is a strong word, but previous drilling operations have shown it's a possiblity, such that a well time and cost estimate should contain sufficient contingency to cover anticipated risks.

Drill crew training in kick handling is actually mandatory.