Touchstone Exploration Share Discussion Threads

[lazarus2010] 28/7/2014 20:38

JB, somebody asked where you see the share price going? What sort of potential valuations have you come up wth? Is $10 a possibility? ;-)

[jamesiebabie] 28/7/2014 20:29

blik - link now added to the header under 'other websites'.

Cheers

[jamesiebabie] 28/7/2014 20:25

blik - thanks for that, it is encouraging that he is buying and not in small numbers either.

I am looking to add next week as the story is compelling.

I will add the link to the header, many thanks.

[blik] 28/7/2014 19:43

JB, I found the source of the image in that post. Might be useful info for the header (or at least a link to it)

John Wright, has bought another 30,500




I will add more.

[blik] 24/7/2014 18:13

Good find JB. Very encouraging.

[mark of the rushes] 24/7/2014 17:47

About Cd$200,000. Not to be sniffed at.

[jamesiebabie] 23/7/2014 22:15

Some director buying in the market.

[dosser2] 21/7/2014 19:28

They have copied your article above Jamie.

Touchstone finds new oil in Trinidad


Toronto-listed Touchstone Exploration Inc, a company that already gets 70 per cent of its oil production from Trinidad, announced it found "net oil pay" at three of the four new wells it has drilled so far in 2014. In a July 17 release on the Toronto Stock Exchange (TSX), the company told investors the wells were the first of a 21 well drilling programme in 2014. In the industry, "pay" is a reservoir or portion of a reservoir formation that contains economically producible hydrocarbons.





In its operations update to the TSX, Touchstone said it "achieved average field estimated production for the first 13 days of July of 2,275 barrels per day; 1,769 barrels per day in Trinidad and 506 barrels per day in Canada; drilled and cased four wells in Trinidad; established positive operating cash flows from our Kerrobert (Canada) property in June 2014."



To date, the company said it has "successfully drilled four wells in total" in T&T. Two wells were drilled on the Forest Reserve WD-8 Block, one well on the Grand Ravine WD-4 Block, and one well on the Cory Moruga Block.





The two wells on Touchstone's WD-8 property were drilled to total measured depths of approximately 4,000 feet. "The first well (FR-1747) encountered 302 feet of net oil pay, of which 170 feet is in the Lower Forest formation, 55 feet in the Upper Cruse, 18 feet in the Middle Cruse and 59 feet in the Lower Cruse formation," Touchstone said. The well will initially be completed in the Lower Cruse formation.



The second well (FR-1748) encountered in excess of 280 feet of net oil pay in the shallow section, of which 110 feet is in the Lower Forest, 85 feet in the Upper Cruse, and 85 feet in the Middle Cruse formation. Additional oil pay in the deeper Lower Cruse section will be quantified following cased hole logging operations.



"The well on our WD-4 property (PS-579) was drilled to a total depth of 6,800 feet. The well encountered 585 feet of net oil pay of which 231 feet is in the Upper Forest formation, 313 feet in the Lower Forest formation and 41 feet in the Upper Cruse formation," Touchstone said.



The Cory Moruga well-where Touchstone has a 16.2 per cent non-operated working interest-successfully reached its targeted total depth of approximately 6,600 feet. Testing and completion programmes are currently being drafted by the contract operator for execution in the near future, the company said. "With these results, Touchstone remains on pace to complete our intended 21.3 well drilling programme in 2014."



Over the last quarter, a lease automatic custody transfer (LACT) unit on WD-8 property became operational, the company said. The LACT unit allows for greater production capacity in the field and will no longer restrict production capabilities at the wellheads. Similar upgrades to the facilities at Coora were successfully installed and are currently awaiting regulatory certification, the company said.



Touchstone continues to finalise both of its exploration and production licences on its East Brighton and Ortoire properties, the statement said. The company said it had been informed by the Government of T&T that the execution of both licences will occur prior to the end of the third fiscal year quarter.






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[dosser2] 21/7/2014 18:26

What price can you see EME being bought out at?

[jamesiebabie] 21/7/2014 17:54

dosser - it will, it just takes time for others to cotton on. I will be adding when EME sells in a few few weeks/months time. I will add in small amounts in the interim with some profits from elsewhere.

All my biggest gainers have taken time to get going in the past, I see this as no different.

[dosser2] 21/7/2014 15:52

One would expect this share to move up with all this good news.

[jamesiebabie] 21/7/2014 09:09

Published:
Monday, July 21, 2014
Aleem Khan

Toronto-listed Touchstone Exploration Inc, a company that already gets 70 per cent of its oil production from Trinidad, announced it found "net oil pay" at three of the four new wells it has drilled so far in 2014. In a July 17 release on the Toronto Stock Exchange (TSX), the company told investors the wells were the first of a 21 well drilling programme in 2014. In the industry, "pay" is a reservoir or portion of a reservoir formation that contains economically producible hydrocarbons.


In its operations update to the TSX, Touchstone said it "achieved average field estimated production for the first 13 days of July of 2,275 barrels per day; 1,769 barrels per day in Trinidad and 506 barrels per day in Canada; drilled and cased four wells in Trinidad; established positive operating cash flows from our Kerrobert (Canada) property in June 2014."

To date, the company said it has "successfully drilled four wells in total" in T&T. Two wells were drilled on the Forest Reserve WD-8 Block, one well on the Grand Ravine WD-4 Block, and one well on the Cory Moruga Block.


The two wells on Touchstone's WD-8 property were drilled to total measured depths of approximately 4,000 feet. "The first well (FR-1747) encountered 302 feet of net oil pay, of which 170 feet is in the Lower Forest formation, 55 feet in the Upper Cruse, 18 feet in the Middle Cruse and 59 feet in the Lower Cruse formation," Touchstone said. The well will initially be completed in the Lower Cruse formation.

The second well (FR-1748) encountered in excess of 280 feet of net oil pay in the shallow section, of which 110 feet is in the Lower Forest, 85 feet in the Upper Cruse, and 85 feet in the Middle Cruse formation. Additional oil pay in the deeper Lower Cruse section will be quantified following cased hole logging operations.

"The well on our WD-4 property (PS-579) was drilled to a total depth of 6,800 feet. The well encountered 585 feet of net oil pay of which 231 feet is in the Upper Forest formation, 313 feet in the Lower Forest formation and 41 feet in the Upper Cruse formation," Touchstone said.

The Cory Moruga well-where Touchstone has a 16.2 per cent non-operated working interest-successfully reached its targeted total depth of approximately 6,600 feet. Testing and completion programmes are currently being drafted by the contract operator for execution in the near future, the company said. "With these results, Touchstone remains on pace to complete our intended 21.3 well drilling programme in 2014."

Over the last quarter, a lease automatic custody transfer (LACT) unit on WD-8 property became operational, the company said. The LACT unit allows for greater production capacity in the field and will no longer restrict production capabilities at the wellheads. Similar upgrades to the facilities at Coora were successfully installed and are currently awaiting regulatory certification, the company said.

Touchstone continues to finalise both of its exploration and production licences on its East Brighton and Ortoire properties, the statement said. The company said it had been informed by the Government of T&T that the execution of both licences will occur prior to the end of the third fiscal year quarter.

[jamesiebabie] 20/7/2014 18:13

Website is updated, but I know it requires some further amendments.

Results due Aug 14.

[jamesiebabie] 18/7/2014 21:49

I wonder when we'll get the 1/4ly update as this is a new 'ish' company?

[jamesiebabie] 17/7/2014 20:27

blik - another thought is that these wells in WD-8 are the '1700 series' type wells and therefore they are likely to produce more like 80bopd as per their latest presentation.

The WD-4 area looks stronger with figures around 100bopd.

WD-8 is likely to be the test are for the horizontal wells next year.

[jamesiebabie] 17/7/2014 19:59

If this helps, this is from TXP about 18 months ago. The completions are in the same Lower Curuse in the same WD-8 field, so should provide good guidance.

[jamesiebabie] 17/7/2014 19:55

blik - we [me and Spangle] do not believe any of the wells mentioned in yesterday's news release will have any flow rates yet. When I spoke with the company a few weeks ago said they may release IP30 and IP60 rates, but not the initial 1IP rates like LGO as they do not provide a true picture as to the real ability of the wells.

[blik] 17/7/2014 19:37

I reiterate, flow rates per well would be nice!

[jamesiebabie] 17/7/2014 19:29

blik - correct, LGO are looking to install the same devices at their Goudron field. As ooposed to having to store the oil on site in a tank farm, they can pump it off sie straight into the pipeline and therefore unrestricted by the tank size.

I just wonder if TXP have been restricted in recent times and that they can now open up the chokes?

[blik] 17/7/2014 19:23

Spangle:

"What Are LACT Units?

"LACT" is an acronym for Lease Automatic Custody Transfer. "Custody transfer" refers to the transportation of the crude oil or petroleum product from one entity's possession or custody to another's possession. The "automatic" aspect refers to the automated nature of this transfers, and the "lease" references the legal arrangement that is in place between the two entities. Essentially a Lease Automatic Custody Transfer (LACT) Unit is a piece of equipment which facilitates accurate measuring of the volume and quality of a petroleum product as it is transferred by automated means from the custody of one legal entity to another."

source: hxxp://setxind.com/upstream/the-important-role-lact-units-perform-in-the-petroleum-industry/

My understanding is (after reading the whole page) - that LACT allows them to automate transfer of crude, without it, I guess they would be filling temporary storage, which would require restricting flow.

[jamesiebabie] 17/7/2014 19:12

Looks like the bid is ticking up and the spread narrowing.

[spangle93] 16/7/2014 23:27

Jamesie - the LACT is just a device to automatically measure liquid hydrocarbons. I'm not really sure how the previous lack of one restricted capabilities, so I can't really judge the uptick. Not worth a question in its own right, but if you're in contact with mgmt on anything else, it would be worth a PS

[jamesiebabie] 16/7/2014 22:35

blik - I wonder how much they have been 'restricted'? :0) Interesting times.

[blik] 16/7/2014 22:29

Rereading, I agree with Spangle - btw, I am not negative, just managing my own expectations.

I especially like this:

"In the quarter a lease automatic custody transfer ("LACT") unit on our WD-8 property became operational. The LACT unit allows for greater production capacity in the field and will no longer restrict production capabilities at the wellheads. Similar upgrades to the facilities at Coora were successfully installed and are currently awaiting regulatory certification."

[jamesiebabie] 16/7/2014 22:25

I wonder if they will bring on the third rig if things are going well. I know they have an option for one.