Touchstone Exploration Share Discussion Threads

[dunderheed] 06/12/2022 00:19

Agree 100% CFC. Embarrassing.

[kaos3] 05/12/2022 23:15

"and potential completion of the Cascadura-2 development well in the second quarter of 2023"

meaning they do not count on Casca 1 cash flow in the second quarter of 2023...

[che7win] 05/12/2022 23:09

What are the business objectives that we expect to accomplish using the available funds?
In order to allow the Company to accelerate these prospective exploration, development and production opportunities while the Company's cash balance and cash flows from operations are being allocated towards the Cascadura facility construction, Touchstone is seeking to raise funds to sidetrack Royston- 1ST1 to drill and test the intermediate and subthrust sheets of the Herrera Formation in the first quarter of 2023. Net proceeds will also be applied to bring forward the drilling and potential completion of the Cascadura-2 development well in the second quarter of 2023.

[stockport loser] 05/12/2022 23:02

They are only considering a UK placing, usually it will be similar to TSX, so about £7m. I don't think they will need more than this before Cas starts producing.

[che7win] 05/12/2022 23:02

Construction of the Cascadura surface facility and associated infrastructure required to bring production online from the two existing Cascadura wells is in progress. Once production at Cascadura is online, which the Company anticipates will be by the end of the first quarter of 2023, initial gross aggregate natural gas and associated liquids production from the Cascadura-1ST1 and Cascadura Deep-1 wells, based on previous well tests, has been forecasted at approximately 11,500 boe/d (9,200 boe/d net). In addition to the development of the Cascadura facility, the Company has a portfolio of further exploration and development drilling targets at the Ortoire block.

[thommie] 05/12/2022 22:55

Interesting. Didnt expect it after they didnt do it for so long. Although everyone insisted that they should not do it, it feels right. In hindsight that should have happened long before... In the end the lack of some millions meant a standstill in drilling operations since 1 year... which made the share price go down to where it is now. For a minor dilution it will enable txp to bridge the time till cascadura comes online next year, enabling them to go on drilling now.

[che7win] 05/12/2022 22:55

SL,
How do you know it’s minimal, they hint at UK fund raise too.

It’s at near weakest point in 2.5 years and just before Cascadura wall of cash? The timing is poor, unless I’m missing something.

[thebull8] 05/12/2022 22:35

Great news.... K then

[sirmark] 05/12/2022 22:25

Great news we can get drilling asap, as apposed to waiting for casc to come online. Explains the past months so weakness, let's get this done and move the share price back and get drilling again.

[croasdalelfc] 05/12/2022 22:16

That is 7.5m not 75 - no heart attacks please

[croasdalelfc] 05/12/2022 22:15

hTTps://ceo.ca/@newswire/touchstone-announces-c75-million-brokered-offering

[stockport loser] 05/12/2022 17:34

Thanks Pro.

[sharekitchen1974] 05/12/2022 17:06

I see this at 45p soon, chart looks doomed

[arlington chetwynd talbott] 05/12/2022 17:01

The chart appears to back him up.

[davidblack] 05/12/2022 15:58

God bless the Japanese then?

[mount teide] 05/12/2022 11:34

C7 - when I first went there in 1979, there was no gas industry. The only nat gas produced was flared as a by product of the small oil industry.

Qatar had one small general cargo quay where we unloaded the building material cargo by ship's derricks, as the 'port' had no cranes!

It was a desert as far as the eye could see......the only buildings were single storey shacks.

The rest of the Persian Gulf Nations were the same - Dubai, Saudi, Bahrain, Kuwait, UAE, Oman. The change in 40 years from exploitation of the huge O&G wealth of the region has been extraordinary. Without it they would still be on the bones of their backsides barely able to feed themselves.

[stockport loser] 05/12/2022 10:56

Don't listen to that plastic scouser.

[arlington chetwynd talbott] 05/12/2022 09:22

Hard to imagine, but it is startling to look like that.

[che7win] 01/12/2022 19:12

Interesting video on Qatar and gas

[redartbmud] 01/12/2022 19:05

If the weather is good, they will be celebrating on the beach instead of working, if previous comments about the local contractors are anything to go by.

red