Touchstone Exploration Share Discussion Threads

[a9neu] 09/2/2024 12:56

That's a few crimes in that sentence

[paulhopeful] 09/2/2024 11:52

Drilling of the well was suspended, to preserve the (substantial) pay section observed in the well, after high pressure gas zones were encountered. Think it’s good the company has commenced clearing the road, and organising a flow line network.. more than one. Things appear to be finally moving at speed.

[sirmark] 09/2/2024 11:46

Last bit of stock at 50p with only CNKS on the offer
50p 10,000 CNKS

Should start moving once cleared , although buys going through on the RSP at 49.10P so clear that and we can start moving back up on the great news released yesterday !

[11_percent] 09/2/2024 11:43

The desperation was the unrestrained ramping on here yesterday.

I am not desperate.....but patient.

Been here years and found this is a trade off between.......how prospective the Ortoire block is.....which is very prospective.......and the incompetence of TXP.

TXP will get there....and they are getting there.....it just takes time.....do things twice.....bet they will get there.

I will go for Q3/year end for the pipeline to be built and gas from Casc C pad on-line.

In the mean time we are proving Casc up as a 1 Tcf reservoir.

That alone mean we will be throwing off a huge divi for 20-30 years.

Just takes time.....lets see where we are at year end.

[che7win] 09/2/2024 11:05

11 percent, you seem desperate, reminds me of flogging a dead horse

[11_percent] 09/2/2024 10:27

The graph?.....there is a gap 46.0 - 48.0......that will fill.

At least wait for that before any buying.

[11_percent] 09/2/2024 10:21

Ok....everyone is happy that there will be no flow test till pipeline is built.

=================

It was a good video by Paul......no going off at tangents or down the usual rabbit holes......Just facts Jack...Just the facts.

[kaos3] 09/2/2024 08:58

SP93 - i saw the lack of specifics and i ascribed it to their new fould self awarness /of making off piste too soon statements/. which is a positive spin - if so

but agree - all in all very technically poor RNS. either no data or no confidence in interpretations.

which reconfirms my own thoughts ... they need wise, experienced and competent HC team member with some confidence and internal authority in Calgary.

all is a very poor /expert/ show. even i can see that.

[spangle93] 09/2/2024 08:54

"Its a high risk strategy.....no flow testing at the moment."

Not really, it would be normal practice in a field development. Equinor doesn't test its wells in the North Sea, yet commits millions to their development.

If the logs in "2" effectively match those from first two wells, and they know the production and delivery potential of those two wells, then unless they mess up the cementing and perforating, they will be able to estimate production potential of wells 2 and 3.

You could argue that it's a bit early to drill the wells and commit the capex if they won't complete the tieback for months, but I guess they needed the well log information to confirm/refine their field model before spending money on a flowline

[lazarus2010] 09/2/2024 08:46

11_percent8 Feb '24 - 22:56 - 36844 of 36846
0 1 3
Its a high risk strategy.....no flow testing at the moment.

Drilling an other well....AND....a pipeline before any testing.....mmmmm.
-----------------------------
Just my guess as nothing stated in the rns, but hey need to carry out piping tie-in to gas collection network and increase capacity of facility to take the extra gas, therefore no testing until all of that is complete. The delay in testing is actually a positive as they are going to carry out the pipeline and capacity increase before testing, ipso facto they are 100% certain they will get very good flow rates based on the results from the first well. In any case they can't test until the 2nd well has been drilled and the rig moves off and they then bring in the test rig. Aimho dyor

[ballymoss18] 09/2/2024 07:44

Took a long time to come up with a poor negative spin. What are the charts telling you now 11pc?Nice to see a good update yesterday, I like theHighly productive sandsMulti year drilling programme on Cascadura.

[11_percent] 08/2/2024 22:56

Its a high risk strategy.....no flow testing at the moment.

Drilling an other well....AND....a pipeline before any testing.....mmmmm.

[eggchaser] 08/2/2024 21:11

Reasonable opinion with an equally reasonable assumption based on wording within the RNS by Valhamos... I agree but Spangle is right to caution... Fingers crossed!!

[homebrewruss] 08/2/2024 19:26

Fair enough Spangle. It is at least the same structure which should provide some comfort in that they can compare with previous experience on the structure.

[spangle93] 08/2/2024 18:36

Hi Valhamos, yes - they do say that... let's hope it's a positive

[valhamos] 08/2/2024 18:25

"It doesn't even mention that they've found gas "

yet they do state " Drilling of the well was suspended prior to the planned total depth ... after high pressure gas zones were encountered."

[spangle93] 08/2/2024 17:56

If history in TXP has taught us one thing, it's that the RNS announcing logging results has, for all wells since Casc-1, been the high point.

Post 36836 suggests "Highly productive sands extending significantly to the east". Not in the RNS. It doesn't mention productivity. It doesn't mention what portion of the 525ft is pay (or if they equate sand to pay then what proportion they will perforate). It doesn't even mention that they've found gas - just "hydrocarbon". You have to infer that because there are plans to connect it up to a gas facility, and that it's in a field that has previously tested gas (when they expected oil). But in two wells so far, the liquid announced has changed between logging and testing, and in other wells, flow has not come close to that imagined from the logs - whether it's water, or cement, or skin, or ...

So while I'm delighted that the share price has for once closed higher than it started, and I'm pleased that we've drilled the well underbudget, it is not a case of "all risk off", just a fair number of risks off.

I'm sure that this will attract the usual red thumbs, comments such as "oh, just trying to get in a lower price" and all the other standard fare. But it feels that we're getting just a little ahead of ourselves.

[eggchaser] 08/2/2024 17:07

For all his faults maybe PB has learned a lesson or perhaps has better steer from those around him??? Could also be true that the city spivvs in their expensive trainers and slicked back hair have run out of rope to hang the share price... that RNS was a little unexpected me thinks.... No matter what - a more positive outlook is before us at last ..... come on Canada, you have some catching up to do.

[sirmark] 08/2/2024 16:48

Lovely 54p UT

[paulhopeful] 08/2/2024 16:38

It’s the best RNS I’ve seen this year, so far. Lots of positives, Operations have been on time or early, Cascadura-2 came in under budget, and has proven up the concept of Highly productive sands extending significantly to the east! Excellent news, along with the production facility plan, to increase capacity to 140 MMcf/d.. for now, shows confidence, well done management.

[sirmark] 08/2/2024 16:24

It's getting there clearly had a lot more hanging around and took the opportunity to clear... we move on... .up we go at least it will be sustained this time !

[bri15] 08/2/2024 16:19

Ok,not quite,bomm!