Touchstone Exploration Share Discussion Threads

[spawny100] 31/1/2023 11:53

I can see a gap in the humour chart of Buffy.

[kaos3] 31/1/2023 11:52

one of the gaps to be filled


free stock charts from uk.advfn.com

[herman007] 31/1/2023 07:45

I dont think it is after Royston ST, but after the two CAS wells. At this time they can start to drill Royston development wells or poke a hole somewhere on their new acreage if the paperwork is finalized.

[homebrewruss] 31/1/2023 07:08

According to some discord chat from people that have been talking to the company they might do some drilling in the Rio Claro block after the Royston ST suggesting the block swap deal may not take that long to go through.

[pro_s2009] 31/1/2023 06:58

Gets a little complicated as the deal will not go through to year end........so......what to do.

Announce a massive discovery in the sub-thrust ? Risk LOL wanting a better deal ?

Going to be interesting......... how will Paul deal with sub thrust news ?

[homebrewruss] 29/1/2023 19:16

From the seismic they have shared the subthrust appears larger than the intermediate and also potentially to extend a long way North into the newly acquired block. Fingers crossed for the subthrust..

[spangle93] 29/1/2023 18:17

I'd caution against trying to constrain it to a single figure

Instead, just assume its a wide range, with a quantum around that sort of level, but which remains to be confirmed with further wells.

For instance, the first well did not reach the base of the intermediate, so there should be volumes to add if there's an oil column to its base.

[mynameiskhan] 29/1/2023 17:14

Thanks Spangle for the reply. So probably, we can assume ~50 mbbls recoverable on 20% RF.

[spangle93] 29/1/2023 17:11

from RNS on 7-Mar-22... limited reserves from the exploration itself, but an indication of scale of the structure

The Royston exploration discovery was assigned gross working interest 3P reserves of 4,800 Mboe, gross working interest 2P reserves of 3,520 Mboe and gross working interest 1P reserves of 1,280 Mboe.

Our independent reserves evaluator estimates that the Royston structure has a low estimate of 128.3 MMbbl, a best estimate of 165.7 MMbbl and a high estimate of 211.7 MMbbl of total petroleum initially-in-place from the overthrust and intermediate sheets of the Herrera Formation, with no estimate provided in the subthrust sheet.

Two things to consider
1. these figures are oil in place, from very early results. Maybe take 1/3 for reserves as a rough shot
2. We are continuously referred to the analogous Penal/Barrackpore field, which has produced around 120 MMBbl over many years
3. The Royston intermediate structure probably extends out of the current licence, but the previous volume estimate was before the HoA to swap leases with Lease Operators, which owns the block into which it extends

[mynameiskhan] 29/1/2023 15:42

Thanks everyone. How much oil they are looking at Royston? In terms on recoverable oil? 50 mbbls? 100 mbbls??

[sleveen] 29/1/2023 12:45

"I regularly use TA for buying and selling Buffy"

[buffythebuffoon] 29/1/2023 12:05

I always feel that a humorous riposte, even if inaccurate, needs to at least make some semblance of sense to work.

Buffy

[homebrewruss] 29/1/2023 11:46

They didn't really find any water in the intermediate it's the overthrust where that's more important and they are not focussed on that this time.

[pro_s2009] 29/1/2023 11:34

Not only that, they know which sections are water and which sections are oil in the intermediate......so they know where to perforate and where not to perforate. Should be at least 1000bopd from the Intermediate.....potentially higher.

The sub-thrust is the unknown, but if it contains oil - be very excited.

[homebrewruss] 29/1/2023 09:45

Will probably start early this week, maybe Tuesday. It's anticipated to be two to three weeks until TD although they have some junk to clear out of the well first.
Should have an initial indication by end of February IMV followed by further testing barring any drill drama.

The intermediate previously flowed up to 550bopd on equipment set up for gas.
This well is optimised for oil and they are aiming to test a much longer section and also poke into the subthrust which is productive in the penal/Barackpore they are comparing Royston to. The subthrust looks much larger than the intermediate in the seismic 🤞

[mynameiskhan] 29/1/2023 09:11

Any idea, when the sidetrack will start & how long it will take to reach TD & flow test ?

[pro_s2009] 28/1/2023 14:11

Yep, rig ready to be inspected then its gets drilling for what might be, 500bopd, or 1000 bopd, or 1500bopd.......might be a new discovery of oil in the subthrust as well.........exciting times....

[soggy] 28/1/2023 09:17

You buy and sell Buffy? Wow! What exchange is he traded on? Ticker GRUMP I presume... ;-)

[spawny100] 27/1/2023 18:02

I regularly use TA for buying and selling Buffy and works for me.

[wanobi] 27/1/2023 17:55

fair enough buffy,,,, what can I say, other than, so far I'd rather have them, use them than not and I have had reasonable results doing so,,, so I'm not bothered at being laughed at as I'm making money :-) :-) Cheers Wan :-)

[buffythebuffoon] 27/1/2023 17:52

Hi wanobi,

The acid test is whether you buy on certain TA signals.

I know three TA professionals who work for large organisations. To a man they laugh at bulletin board posters who try to give meaning to chart movements in small company low volume shares.

Buffy

[sleveen] 27/1/2023 16:23

Star Valley Rig #205 is ready for inspection at Royston-1ST1. We are targeting the intermediate and subthrust sheets of the Herrera Formation, at a total depth of 11,300 feet.

[jungmana] 27/1/2023 16:21

Rig ready for inspection;https://twitter.com/TouchstoneExp/status/1619001725796626432?t=qeQgQ_K5nj83JhmwFp0nAg&s=19

[jungmana] 27/1/2023 16:17

Rig ready for inspection;https://twitter.com/TouchstoneExp/status/1619001725796626432?t=qeQgQ_K5nj83JhmwFp0nAg&s=19

[pro_s2009] 27/1/2023 14:21

Agreed............. I think Malcys target of 150p will be hit in 2023, and maybe surpassed......