Touchstone Exploration Share Discussion Threads

[bluke] 12/1/2023 17:01

I'm pleased by the progress. The only thing I slightly dislike as an investor is that now the first news item with real potential to move the share price - the Royston ST - is one with a much greater risk element than the Casca linking up. Both can obviously push the share price up considerably, but Royston ST is likelier to give the market am RNS is doesn't like. I'd be happier if the events were the other way round.

However, it also comes down to how far the market has priced in any upside on Royston. Seemingly it has not, and Paul has been steadfast that the market has got Royston wrong. I guess we'll see...

[pro_s2009] 12/1/2023 16:16

Spud of Royston does not matter, end of Jan or early Feb or mid Feb.........nobody should give a damn now.

Fully funded, Coho online and Cascadura coming online soon.........its as cheap and chips now.......Royston spud timing is nothing.

Important only that Cascadura is completed and in commissioning end of March.

[homebrewruss] 12/1/2023 14:46

See Xavier talking briefly about the Rio Claro and St Mary's blocks in 2013 from about 14:30.. he's probably spent some more time on it since then too 😉
hTTps://youtu.be/hlCEtYN76sI

Seems 3D seismic is available for Rio Claro/Balata east and St Mary's

Also his video from last year on the Cretaceous and Kraken
hTTps://youtu.be/5-X_5rqr3qA

[buffythebuffoon] 12/1/2023 13:29

Spangle, he posted on the biggest investment disappointment of his life (I assume) on the Hurricane board.

As for PB, his taste in spectacles is somewhat questionable, and I prefer my CEOs to affix their tie with a nicely symmetrical knot such as a Windsor knot. It shows a level of attention to detail that I find reassuring.

His skin regime could do with an upgrade as well.

I hate using that word but so many seem to for both men and women that I thought I’d try to sound like I was up with the lingo.

Buffy

[red rook] 12/1/2023 11:37

... possibly 1domus ..
... won't quibble over a couple of weeks here or there!
... personally, dont mind if PB's timing is a bit off again, it will give me more time to accumulate
... the Royston drill will be kicking off, and cascadura coming on line will more than provide the funds for a continuous drilling program
... this year is certainly going to be interesting for TXP

[sleveen] 12/1/2023 10:49

Spangle, he's on the discord thread.

[11_percent] 12/1/2023 10:42

Mmmm......indeed.

Yes, as I remember, the Royston fluids were trucked/tankered to the existing legacy oil field facilities and processed there......and Royson water disposed of.

The water disposal well was trumpeted as a good ESG thing.....but was it really necessary.

Can just dump the Royston water....like everyone else in T&T.

Or drill a water disposal well at Royston.....or other location.

[homebrewruss] 12/1/2023 10:36

I think that's right Spangle.
Guess we have time before the transfer to do a long term test on Royston ST assuming success.
Intermediate did have very low to water cut in the previous test at least IIRC.

[spangle93] 12/1/2023 10:36

It also seems to me, based on his stated detailed progress on the ground, that they have a LOT still to do to achieve a 1Q target for Cascadura. Even if by 1Q he means mechanically complete and ready for commissioning, rather than generating revenue.

I know there are people with Project management backgrounds here, but does that work program sound feasible in 9 weeks?


OTOH the processing of bid applications for the onshore round would appear to take much less time than I imagined if they'll know in a couple of months' time.


On a different subject.
Does anyone know the whereabouts of jonny/ngms27. Haven't seen him posting anywhere for ages. I hope he's OK - he is the living epitome of "a little knowledge is dangerous" but I think he posted honestly. Please PM me if you'd rather not post publically.

[1domus] 12/1/2023 10:31

Too early as I see it.

[spangle93] 12/1/2023 10:31

Thanks for the link, HBR

I think he's mixed up Cascadura and Royston around 1:15. Balata East is an oilfield, and the terminal of the oil export pipeline. The asset swap deal won't be completed until the back end of the year. So it's hard to see how it can relate to Cascadura at end of 1Q, whereas it would be in line with the timing of Royston sidetrack production.

The only thing I can think he means, if he's correct, is that they'll run a liquids flowline from Cascadura to Balata, but surely that's not in the current CEC?

Maybe someone with better notes will correct me, but I think that Royston test fluid were previously trucked to Fyzabad for handling - In 2018 presentation
"We are the first oil company onshore Trinidad to have a water disposal well Reinjection began on March 22 2018 allowing us to reinject all of the water that we produce from the Fyzabad and surrounding properties back into the ground rather than releasing at surface

So if Fyzabad went, they'd need another handling and disposal facility, especially given the high water cut from the outset in Royston

[11_percent] 12/1/2023 10:30

Royston ST.

I will wait for flow test results for this well.

========
One of the big risks here is that "the continuous" drill plan may be interrupted.

If Casc does not come on-line as expected......they could run out money for drilling.....and hence have to stop the "continuous" drilling.

=======

Thought PB might have said something about cash from Coho......are we getting any??

[red rook] 12/1/2023 10:14

... good PB interview ...
... @2.38min in "... so thinking spud date around the 25th January .... then we just roll on after that, it should be a continuous program .."
... so the Royston sidetrack will be kicking off a continuous drilling program at Ortoire
... that's what we are waiting for!

[homebrewruss] 12/1/2023 09:47

Now the bids are in surely it makes no difference re well result to the onshore bid?

[davidblack] 12/1/2023 09:45

Nicely timed that this well is due but untested at the licensing approval end date.

[homebrewruss] 12/1/2023 09:42

From the September presentation PB said 700-1000bopd from Royston ST would be viewed as success. Fingers crossed!
IMV any success is not priced in at the moment with Cascadura coming online soon followed by further drilling.
Should get onshore bid round results in 3 months time too.

[soggy] 12/1/2023 09:35

There was a time when an oiler's share price would ruse steadily into a spud and continue substantially after that announcement...

But then again, there was a time when dinosaurs roamed the earth, when politicians were honest, phones hung on a wall and even a time when I had hair.

But it would be nice if there was an echo of the old times when Royston spuds.

Let the good times roll!

[jungmana] 12/1/2023 09:33

Thanks for posting. Good interview there imo

[pro_s2009] 12/1/2023 09:29

So Royston side track spud before end of January.

[sleveen] 12/1/2023 09:27

Casca & Royston timelines seem firm.

[pro_s2009] 12/1/2023 09:26

Interview with CEO PB

https://www.youtube.com/watch?v=DFUk3GomQw8

.

[sleveen] 12/1/2023 09:24

Added to header. Thanks hbr.

[11_percent] 12/1/2023 09:23

Zero chance of that.

My guess is:

Royston spud, first week of Feb.

Casc on-line start of Q3.

[homebrewruss] 12/1/2023 09:16

hTTps://youtu.be/DFUk3GomQw8

Interview with PB
Royston spud in 2 weeks and Cascadura on track for end Q1 🤞

[sleveen] 12/1/2023 09:03

65.8p to sell, 66p to buy as I write.