Touchstone Exploration Share Discussion Threads

[jamesiebabie] 14/8/2014 16:57

The Company continues working toward a new operating credit facility to facilitate its expanded capital program in Trinidad.

[jamesiebabie] 14/8/2014 16:56

Trinidad property and equipment expenditures were $7,793,000 in the quarter. This included $5,203,000 in drilling and completion costs, mainly for the three wells drilled throughout the quarter. The Company also purchased a new service rig for $2,103,000. As at June 30, 2014, the Trinidad equipment fleet included four service rigs and one coil tubing unit.

[blik] 14/8/2014 16:21

Thanks JB, wonder where on there PS-579 is, think it's not on that old location map.

[jamesiebabie] 14/8/2014 16:12

blik - you can see the wells to be drilled this year [solid red stars] with the follow on wells for WD-4.

Buy the dips as you say like the director!

[blik] 14/8/2014 16:05

Buy the dips!

[jamesiebabie] 14/8/2014 16:04

WD-8 will have 6 wells drilled in 2014/15.

[jamesiebabie] 14/8/2014 16:02

Blik - sorry that is in fact 9 for the year 14/15 in WD-4, with a further 8 planned thereafter.

[blik] 14/8/2014 16:01

Wonder if they will consider more on WD-4 now...

[jamesiebabie] 14/8/2014 16:00

blik - TXP were expecting a 30 day average of 60bopd!! I did say they were going to be conservative numbers. :0)

[blik] 14/8/2014 15:54

JB, do you know how many of the 30 well campaign are planned WD-4 wells?

[jamesiebabie] 14/8/2014 15:51

blik - as I said on here yesterday, this is a long term hold, so long as the news keeps on going in the right direction and that the share price doesn't get ahead of itself.

[blik] 14/8/2014 15:34

JB re PS-579, unbelievable... Just think the bopd if more was perforated. Need more wells like that.

Market not responding well so far.

[jamesiebabie] 14/8/2014 15:16

Looks like some of these wells are being brought online and tested and then go for further perforations if required. Much more to come in August with further completions and optimizations, along with more drilling.

[jamesiebabie] 14/8/2014 15:07

Two more rigs due later this month.

[jamesiebabie] 14/8/2014 15:06

This appears to be a good well and only a small portion of it was perforated!

"PS-579 was completed in the Upper Cruse formation with 14 of the estimated 585 feet of total net pay perforated. The well has produced a field estimated average of 230 barrels of flowing oil per day over its initial 24 days of production."

[jamesiebabie] 14/8/2014 14:55

You may find this a better link to the Q2 results.

[jamesiebabie] 14/8/2014 14:52

That's so very similar to the last ops update :0) Steady as we go and nothing that makes me want to sell, it appears that the remainder of the year could be busy to reach their target of 21 wells.

Thanks blik for posting the link.

[dosser2] 13/8/2014 22:15

Signs of good things ahead but you guys got in at a lower price than me. Until I see blue on my charts I worry. But nothing wrong as long as there is good news ahead and your entry price was good

[blik] 13/8/2014 22:05

Indeed JB, I noticed that too.

I hope the recent CEO buys were an indicator! Quite excited to see tomorrows news!

[jamesiebabie] 13/8/2014 21:43

dosser - today has been the highest volume day for TXP, ever! Something afoot?

[jamesiebabie] 13/8/2014 21:20

I'm comfortable with the long term view, so I try to be as comfortable as possible with my entry price. I do check the RNS's in the morning when on holiday, if no news bad, then great, but if negative then I'll be ready to sell.

It is best to dyor first and KNOW what you truly think the 'true' value should be; I'll be here for a long time so long as the share price increases steadily, if it REALLY takes off, then I am likely to trade it.

Day to day movements don't really bother me, even a 10% movement up or down isn't worth really noting, it is the cumulative 10% movements that are interesting.