Touchstone Exploration Share Discussion Threads

[sleveen] 06/3/2024 11:36

russ, most likely.

Thanks for sharing.

[homebrewruss] 06/3/2024 09:01

Good news for CEG today, cash is coming their way.
Will this be the missing link in getting the Trinidad onshore bid round completed?

[sleveen] 05/3/2024 13:10

sirmark, real spread is 51-51.5p.

Just bought 10k @ 51.5p

[kaos3] 05/3/2024 11:08

all the good companies are good ON AVARAGE

depends who from the organisation is working on your case ....

above or bellow avarega employee from the good company

i did demand not just the good co but also the best of their team. they looked at me as i am mad. which i probably am

[sirmark] 05/3/2024 10:31

Slight pull back this morning is artificial, Level 2 is extremely well bid with 7 MM's all looking for stock on the 50p and getting no bites ..... expect a tick up in the next buy or two with with 7 v 1 currently.

[buffythebuffoon] 05/3/2024 09:11

Cfc,

‘ The take away as your comment on SOU shows is that even when engaging top flight services drilling ant well is never risk free.’

Having checked with a friend who was there he confirmed that there were three of the Schlumberger team sitting in front of us. Two were clearly deferring to the third. I asked him how it could have gone wrong. He looked at me and said ‘Sometimes you just can’t give a reason. Everything looked good and we are working on why it went wrong.’

James Parsons, the CEO who later departed, was used to swaggering around a stage being adored by his fans, sorry, investors. His face was a combination of thunder and embarrassment. When it came to question time the microphone that was handed round mysteriously wasn’t functioning. His was working of course… When it was time to stand up and act like a man he sadly fell well short.

PB at JSE said at one presentation that he didn’t know why investors put money in exploration only companies. It’s a low hit rate for sure. Maybe they are all Leicester City fans?

Buffy

[homebrewruss] 05/3/2024 08:41

According to Domus on Discord the reduced flaring at Cas A we have seen on the satellite pics is a result of successful perforations to date and further perforating is ongoing.

[dunderheed] 05/3/2024 07:10

Lol. Looks like they have taken my advice. Was wondering where they were?
That was a definition of a very public slow car car crash, if anyone ever wanted one, IMHO.

[captainfatcat] 04/3/2024 16:53

Hi Buffy no not SOU it was a while back CAS deep possibly.

The take away as your comment on SOU shows is that even when engaging top flight services drilling ant well is never risk free.

[buffythebuffoon] 04/3/2024 16:37

Cfc,

‘ Seem to recall TXP engaged the services of Halliburton or Schaumburger in well/mud design in the past?’

Maybe, but are you perhaps thinking of Sound Energy, who did use them, and despite this top team thinking the Morocco drill was a no brainer, they hit dirt, leading SOU, who had been operating on a shoestring, out of money.

The CEO jumped ship not too long after.

Buffy

[swallowsflysouth] 04/3/2024 13:56

grandson distracting, missed that one

[ballymoss18] 04/3/2024 13:35

Employee purchase scheme came today as well

[swallowsflysouth] 04/3/2024 13:17

Things have speeded up at last, should be lots of news now, there is certainly lots of news out there about what is going on. The next rns should be there employee purchase scheme.

[spangle93] 04/3/2024 13:10

When you look at the latest Cavendish note issue this morning, the "wall of cash" appears to be more of the garden border kind than something more substantial

Revenue in $MM for the 5 years from 2020 is quoted as
14 (2020)
20
28
35
61 (2024)

[captainfatcat] 04/3/2024 10:26

Seem to recall TXP engaged the services of Halliburton or Schaumburger in well/mud design in the past? If they are currently involved in any capacity with TXP well design I'm unsure.

[spangle93] 04/3/2024 10:10

11percent - I thought they usually managed that during the completion phase, but I bow to your memory. For sure, most wells stop at a higher level than the planned pre-spud TD


Sleveen - it's a possibility.

I thought the probs in Cas-deep were reportedly related to the cement that they used, rather than heavyweight mud, but maybe that's up there with the list of tall tales like the compressor and Shell being the problem at Coho ;-)

[sleveen] 04/3/2024 10:05

Perhaps they used underweight mud to prevent skin damage and were too cautious and over did the underweight?

[dunderheed] 04/3/2024 10:02

This remit (for such a small company) obviously lies with the COO, enough said and then if the COO isn't doing enough about it, the CEO, further enough said, lol.
S93 completely agree and as ever good conclusion(s) but me being ever the optimistic old soul, am gambling that it was err inestimated upside, ahem I'll get me coat.
Now wouldn't it be great to get a real industry partner in to take over the operations?
All IMHO and DYOR.

[spangle93] 04/3/2024 09:51

Despite having drilled into the field twice before and experienced problems, either their reservoir model didn't accommodate the high pressure they found in Cas-2, or worse, they modelled it appropriately and then had problems executing the plan.

So, they sidetracked, presumably with higher mud weights to prevent a second dose of wellbore instability, and "Successfully" cased and cemented it.

Let's just hope that the combination of their increased mud weight and historic cementing practices don't spell another well performance twist in Cas-2, once they go back to perforate and complete it.

[11_percent] 04/3/2024 09:19

Ok.....that secures the cash.....lets get on and drill....and build the pipeline from Casc C pad to Casc A pad.

The news of the perforations would have been nice....but it will come.

[homebrewruss] 04/3/2024 09:18

The path between the A,B and C Cascadura locations seems largely cleared.

[dunderheed] 04/3/2024 08:43

Thanks red, thought you were piling me into the confirmation bias club there!
I do like TXP but we have to be honest here, it is hardly a "genius" play or "new" strategy to go and re look at previously uncommercial but interesting historic wells?!
I have only ever been here for Casca and there were times I thought they could even f this up as well!
Some of the ludicrous commentaries znd share price predictions without tempering the risks involved have just been downright "rampy".
However best of luck to all, that's what makes a market and, here's hoping we can all make a nice profit now.
IMHO.