Touchstone Exploration Share Discussion Threads

[lauders] 15/1/2023 01:54

Well done for the question on Twitter to Xavier and for crediting Spangle93 for the thought Soggy. Duly "liked" and look forward to the answer ;-) Hopefully he will respond.

[soggy] 14/1/2023 18:22

Ahhhh....very interesting! Of lesser interest, I do have a twitter account but have never I all my years posted via it. Hmmmm....Live in ignorance or lose my twitterginity and consequent air of smug superiority to find out....

[spangle93] 14/1/2023 17:54

soggy - "I note his reply to a q. about whether hydrocarbons had been found in these various drills in which he said some had, but weren't commercial at the time."

I don't have a Twiitter account but if I did, I'd ask him whether or not it was because they found gas. Remember that discoveries had been made at Ortoire in the 1960s, but at the time, they were looking for oil, so a gas discovery was not a commercial outcome.

[homebrewruss] 14/1/2023 16:45

I recommend watching Xavier's video on the Cretaceous I posted the other day where he says one of the wells probably wouldn't have been drilled had they trekked around the local area and another was likely at the wrong angle.
His local geology knowledge is second to none and he seems to have really studied the exploration history in Trinidad.

[soggy] 14/1/2023 15:46

Helpful stuff indeed from XM. I note his reply to a q. about whether hydrocarbons had been found in these various drills in which he said some had, but weren't commercial at the time. I guess, in today's market with expected ongoing high prices, they might be considered commercial going forward.

[homebrewruss] 14/1/2023 13:46

Nice Twitter thread from Xavier on the bid round and how little recent exploration there has been in the blocks being bid

[pro_s2009] 14/1/2023 00:43

Ultimately the market never understood Royston, what Paul says is correct.

Now they know where the high water zones are they know where to perforate and isolate and they should be able to get over 1000bopd from this sidetrack, provided no downhole issues.

That in itself will excite the market, however here we will also get a look at the sub-thrust for the 1st time.

If the sub-thrust has oil.....this will bode very very well for the future.

Oil in the sub-thrust will also derisk Krakken, the deeper Cretaceous monster to be drilled early in 2024.

By May/June TXP could easily be back to previous highs....... as the cash flow jumps with Cascadura coming on line, with a successful Rosyton and with new licenses awarded.

They will literally be non-stop drilling for the next 10 years, with production and exploration wells and we "might" have a dividend commencing sometime in 2024 as the cash becomes too much to spend on drilling alone.

[pro_s2009] 14/1/2023 00:32

Canada mid price at close was 1.95 CAD = 79p

So up we go again in London on Monday :)

[redartbmud] 13/1/2023 21:49

There are two different parts to this scenario.

The minor play is the chatter surrounding the recent placing. This may continue for a while, until some less committed positions unwind. There will be a section of the holders who are in for the short term bounce on the back of positive news. At some point these sellers will be exhausted, as they are taken out by purchasers who believe that the share price has further to run on the back of a raft of positive news on drilling results and the establishment of a steady and increasing production stream.

The bigger play is the increasing flow of O&G and the resultant swelling cashflow that establishes a financially stable growing business.
It will be interesting to see how quickly this scenario plays out. It is a big job for a small, currently, oil exploration operation in transition.
The trajectory will not be straightforward and we have a CEO with a penchant for putting his foot in it, when it would be easier to just put one foot in front of the other.

We do appear to finally be on the cusp of success. The end game is playing.
Not too long to wait.

red

[johnoxxx] 13/1/2023 21:07

Looks like it finished over 9% up at 79p equivalent. On good volume as well.

[stockport loser] 13/1/2023 20:04

By March it will be hot round here. Although I still think first gas May for Cas.

[holdbucket] 13/1/2023 19:47

C7 it sure is. Up 7.6% = 77.5p a nice start to the year plus lots of headroom.

[che7win] 13/1/2023 17:22

Canada frisky again

[hiddendepths] 13/1/2023 17:18

I'm actually rather excited that we're going to be drilling again shortly!

The company has convinced me that the acreage is a chocolate box of goodies. We need to open some new chocs and take a nibble on others, like Royston, to find out if they're any good inside!

[king suarez] 13/1/2023 17:12

They also later go on to say this about the intermediate test:

"The interval was subsequently flowed up 3.5-inch tubing on a variety of choke sizes between 16/64 inches and 40/64 inches at rates up to 550 bbls/d. The recovered oil was light, sweet crude with an average 33-degree API (corrected to 60-degree Fahrenheit) with sampling throughout flow testing indicating an average 94% oil cut with some solution gas present but not measured."

And:

While we worked to suspend the initial production test to move uphole for the second test, the well continued to flow significant volumes of crude oil at high pressure from the intermediate sheet, and heavy weight mud was required to control the well before proceeding."

Whether that increase from 360 bbls/d to 550 bbls/d came whilst trying to shut the well in is unclear - perhaps open to interpretation?

[homebrewruss] 13/1/2023 17:02

Chrysalis, the sidetrack is all about the Intermediate and possibly a peek at the subthrust.
Re the intermediate:
'The first and deepest Royston-1 completion and exploration test was designed to evaluate an interval at the bottom of the well in the intermediate sheet of the Herrera Formation. The completion spanned a 92-foot gross interval (30 feet of net pay) below 10,434 feet that was identified on wireline logs as being hydrocarbon bearing. Following completion and a brief clean-up period to recover load fluid, the well was shut in and built to a pressure of 3,150 psi at surface (estimated 7,100 psi reservoir pressure). The interval was then flowed up 3.5-inch tubing on a variety of choke sizes between 16/64 inches and 40/64 inches at rates up to 360 bbls/d of 34.5-degree API crude oil before being shut-in'

[chrysalis99] 13/1/2023 15:54

Am I right in recalling that the Royston well produced c675 bopd excluding the subthrust? Presumably TXP know very little about the potential results for subthrust once at this stage.

[sleveen] 13/1/2023 13:40

ashkc

Have you missed the prox xxctive video 12/01/23, it's in the header.

[sirmark] 13/1/2023 13:24

My thoughts exactly

[ashkv] 13/1/2023 11:42

Down to 52p post a dilutive placing when we were promised no more dilution and up 42% in a week on no news.... unbelievable!!!

Drop seems engineered to pick-up cheap shares in equity raise :(

[holdbucket] 13/1/2023 08:26

Buffy, that was well observed but perhaps he presents himself more like Frank Bough did with all the expenditiure below the desk so to speak!!!
Nice jump this morning to catch Canada.

[sleveen] 13/1/2023 08:17

"sleveen12 Jan '23 - 08:11 - 34200 of 34228

Profit taking by those who bought below 60p.

That might continue today , but soon an operational RNS will be issued which should move the share price toward 90p IMHO"


Turns out it was the prox xctive video, not an RNS.