Touchstone Exploration Share Discussion Threads

[dunderheed] 08/12/2022 16:07

I don't agree 100% - markets certainly look backwards when they cannot ever rely on what the CEO guides them on? That kind of stuff tends to hang around like a bad smell. IMHO, DYOR.

[redartbmud] 08/12/2022 16:06

He also said that he had ro assemble a team for the rig. IFFF they are going to start drilling in January, that doen't leave a lot of time.

red

[pro_s2009] 08/12/2022 15:07

No DH......I think the delay ship has sailed.......whilst there will always be the potential for delays in T&T, I do think PB has learned his lessons.

He has stated Q1 2023 for Casca for sometime now, and so it remains and looks on track so far.

The rig is going into non-stop drilling now for 2 to 3 years.....so enjoy it.

Markets look forward, never backwards........what was has been.......and now we move to what will be.

[dunderheed] 08/12/2022 15:02

Can you add a year to all those dates please Pro and you maybe "half-way" there?

[pro_s2009] 08/12/2022 14:57

So we are looking at some key events :

Current production 9.5mmscf/day plus 1400 bopd.

Jan 2023 Spud of Royston sidetrack - potential for a 1000bopd discovery.

March 2023 Cascadura ST1 and Deep-1 wells on line, around 60mmscf/day plus liquids.

March 2023 Cascadura C-1 well spud.

Summer 2023 Cascadura C-2 well spud

Summer 2023 Royston-2 development well spud

Winter 2023 Kraken-1 well - the big one.


Year end 2023 production......

100 mmscf/day plus around 2500 bopd plus 2,000 bpd liquids ?

And drilling Kraken-1 at that time as well.........

[dunderheed] 08/12/2022 14:36

you know I'm no fan of PB 11% I don't think he was saying that at all - I think Shell need as much gas as they can get - through the COHO pipe. All IMHO and DYOR.

[redartbmud] 08/12/2022 14:23

11_

Good point.

red

[11_percent] 08/12/2022 14:05

Coho production and Shell.

The well is "up and down".....due to Shell backing us out.

The pressure in the Coho pipeline must be higher than the pressure in the part of the Shell plant we feed into.

There must be some valve (control valve??) that is restricting the flow of gas into the Shell plant.......or, Shell just close a valve when their plant is maxed out.

Basically....what he is saying that Shell don't need to take all the Coho gas??????.......but he wants to drill another well.???

[11_percent] 08/12/2022 13:29

Buffy.....touche.

[jungmana] 08/12/2022 11:54

Very true , see my earlier post. Was a similar frustration with the directors there late last year. I do hold some i3e at about 12p average and happy to buy txp at this level

[dunderheed] 08/12/2022 11:53

33983, Actually, I first bought around 10p (or early teens) then sold early 20's I think?
The issue with i3E was the way they "sold" the reserves of the N sea exploration / appraisal (or possibly "concept" - not sure where that fits in though, ahem??!!) assets.
I thought they sounded Arthur Daley then and steered well clear but when they acquired the assets in Canada - thought once again they were too good to be true - but was wrong and subsequently bought in and really like the company as it currently stands, IMHO, DYOR.

[spawny100] 08/12/2022 11:52

True hbr. But they didn't waffle and bluster. They just went out and bought an amazing producing asset for a bargain price and got with with the monthly dividends. When can we expect any dividends from TXP? I didn't hear PB mention this in the last interview. Many were expecting dividends and the wall of cash next year. It wouldn't surprise me in the least if Cascadura is not even online next year either. This is the problem for explorers in the current environment of windfall taxes and net zero lunacy that even producers are not valued highly right now. What hope do explorers who continually miss timelines and have a CEO who just waffles about jam tomorrow have of getting a reasonable valuation based on future production?

[homebrewruss] 08/12/2022 11:46

I3e were not in a good place though before they got their producing assets. I seem to recall investors asking for the head of the CEO and CFO back then

[dunderheed] 08/12/2022 11:37

Already there matey.

[spawny100] 08/12/2022 11:30

Dunder agree with your assesment of PB. Have a look at i3e. Monthly dividend and cheap right now.

[dunderheed] 08/12/2022 11:13

I've got to admit taking into account previous BS shows from PB, I was once again not impressed.
I have some cash available but rather than jump in here I'm going to have a long look around both out-side and in my own portfolio and have a hunch there is better value elsewhere (for me at my stage of life!) and am edging toward JSE - which has an incomparable experienced and professional management team.
I actually wrote some time ago (say 2 years) that all TXP had to do now was deliver as opposed to nice talk all the time - when share price was in 150's.
I had a hunch, (contrary to reputation then) PB wasn't going to achieve much and thought about selling then - and am angry I didn't follow that hunch as opportunity costs plus drop in share price has been relatively painful.
I now think PB doesn't have a reputation to speak of - hence he can only go "up" from here but will wait until I see evidence of completing "anything" material in T&T.

This is all hunch and to be honest just based upon the fact he simply doesn't come across as professional - more like an Arthur Daley - constantly changing references time lines and the current immediate strategy just seems "muddled" - perhaps just the way he conveys "stuff" or a subliminal / conscious lack of trust in him unfairly influencing me - I don't know but for moment holding on to my 1MM+ shares here but not yet increasing?

All IMHO, best of luck all (seems like we will need some to get Casc on time for Q1 now?!) and DYOR.

[buffythebuffoon] 08/12/2022 11:08

Dear Mr 0.999999,

I have solid oak floors laid (by me) throughout.

It’s called comedic licence, but since you only possess the lowest form of wit, you’ll not have heard of that.

I first used the Axminster carpet when discussing a CEO from Bowleven I think it was, when describing him as thinking about private investors as akin to the emotions he would have when treading on freshly chewed chewing gum before walking on his newly laid Axminster carpet.



Buffy

[redartbmud] 08/12/2022 10:42

It was interesting that he didn't mention the wall of cash that we were promised.
The very garbled bit very late on he spoke about towards the end of 2023 drilling below Royston into Cracken, and that "IFFFFFFF that works everything else is small".

That man has more neck than a giraffe. On what planet does he expect to drill there if he is drilling numerous wells elsewhere in 2023?

All he has achieved is to kick the promised can down the road - again. Jam in 2024.

Unbelievable.

red

[11_percent] 08/12/2022 10:26

Axminster carpet......bit swish there Buffy......did it come with the house when you bought it???

[buffythebuffoon] 08/12/2022 10:19

So, Royston the not exploration, but a proof of concept well first, followed by Cascadura 2

Why not say production well? Surely any exploration well, particularly with the benefit of 3D seismic, is a proof of concept well?

The Kraken monster will still be the unseen unknown monster lurking in the deep until 2024. He did say possibly end of 2023, but given he has never under-promised and overdelivered it’s going to be the year after next.

Anyway, I just wanted him to talk more so that the interviewer spoke less. I find his voice particularly irritating. It always makes me want to rip off some muscle from a cow and chew it, while watching the last ten minutes of the Rocky film. That’s even though I don’t usually eat red meat and we have an Axminster carpet.

Buffy

[11_percent] 08/12/2022 10:10

SL....agreed......east double.....in 12 months.