Touchstone Exploration Share Discussion Threads

[johnoxxx] 06/2/2023 13:27

Joey, why would exploration be years away- if at all? Casca when online will produce plenty of cash to drill, even if they just drilled Casca out to achieve max production. They would still have cash to explore after this which wouldn’t be years away? Not sure what you mean by “if at all”, you suggesting a poor result at royston would stop all future exploration? Lol

[ballymoss18] 06/2/2023 13:27

Surely either get out now or wait for Cascadura to start producing.Waiting for Royston to fail and then sell would be madness.They must be pretty confident on Royston to go in again imo.

[joey1998] 06/2/2023 12:58

I wonder what the floor is here.

Let’s say Royston-1X fails. Maybe another f’up with equipment lost in the well for example.

Where does that leave the SP? Somewhere around current levels? ‘Cos the allegedly-imminent Cascadura cash flow seems to have had zero impact on the share price

Just tying to think what makes a sensible exit price in case Royston fails again. If it does fail, I think surely any substantial new exploration would be years away (if at all?), and I wouldn’t fancy hanging around for that jam-tomorrow.

[homebrewruss] 06/2/2023 12:06

Hard to say, there are multiple permutations. Intermediate success would could give maybe $50m per year cashflow assuming 8 wells so that would be very material. Any similar success in the subthrust could add the same (subthrust possibility looks larger) but the subthrust is untested to date whereas the intermediate is more of an appraisal.
Also not long after we should get Cascadura online which should ultimately cover any downside in time.

So maybe 50% rise on Royston (intermediate) success? A good result in the subthrust could possibly take it higher.
Might be worth holding longer post a successful drill for Cascadura news (and further drills) if you were only planning holding for a short while ;)

[mynameiskhan] 06/2/2023 11:48

What's the share price, most are looking for on successful Royston drill (drill & test)

[hiddendepths] 06/2/2023 11:12

Buffy - maybe you should change your name to buffythestalebull?

I've been waiting for the exploration and appraisal phase to restart. I'm actually feeling optimistic now for the first time in ages. Royston looks to me to be very much commercial but we really do need more evidence so this sidetrack is most welcome.

I for one was delighted not to see a date for Casca. Persistently missing those dates for Coho and Casca has been the death of a thousand cuts for the share price.

[envestment] 06/2/2023 10:48

Why don't you sell and move on.......

[buffythebuffoon] 06/2/2023 10:29

‘ One thing about you Buffy is.....you live up to your name.....why don't you cheer on your company's RNS......you're always so negative’

Such a rapier wit Envestment, I’ve not heard that before.

‘Cheer on my company RNS’

‘Cheer?’ I read ‘em and think. What use is cheering?

‘ My company’. Ah, you fall in love with your investments do you?

I’ll leave you alone now. In a battle of wits it feels like I’m fighting a one armed man.

Regards,

Buffy

[here and there] 06/2/2023 09:37

And we are off and running.

[chessman2] 06/2/2023 09:35

At last we are on our way, northwards, I hope.

The coming months should be good for TXP and if the drills succeed, as expected, we will be well into three figures later this year.

[redartbmud] 06/2/2023 09:17

Not sure that he wrote it personally. It is too clear.
The Rns relays the facts, and the referral to days is a best estimate of an imprecise timeline.

This is a rare occasion on which I am satisfied with the information provided by PB.
I agree, however, that he could not resist mucking it up with the Cas comment, but I have lergely ignored that side note.
I am only interested in the current drill. It will, or will not, set the company on the track to eventually becoming a serious producer rather than a little speculator poking the odd 'random' hole here and there, on ground that has previously promised oil and gas.
Cas is Phase 2, arising from a stronger base resulting from a regular cash inflow that will discount the need for further fundraises and possible shareholder dilution.

red

[envestment] 06/2/2023 08:56

One thing about you Buffy is.....you live up to your name.....why don't you cheer on your company's RNS......you're always so negative

[11_percent] 06/2/2023 08:56

Indeed....it was a bit "wooly".....but at least PB did not commit to a firm date that he could not meet.

As you say.....Casc on-line...."ASAP".

======
".....and continue construction of our Cascadura facility with a goal of bringing on production as soon as practicable."

[junky monkey] 06/2/2023 08:51

I will be a better man and achieve great things for mankind ASAP. True statement. Prove it’s not.

That was the worst operational update I have ever seen.

[pro_s2009] 06/2/2023 08:48

Royston sidetrack is off and running

[11_percent] 06/2/2023 08:41

Great stuff.....roll on 45 days.

[redartbmud] 06/2/2023 08:08

Bit of fun to celebrate a milesone. Play on words.🤣
Serious game now in play.

red

[redartbmud] 06/2/2023 07:57

The sands of time or running.
Not long to wait.

The Rns is a concise, to the point, and a professionally well written document.
Maybe the tide is turning.

red

[sleveen] 06/2/2023 07:53

If it's a side track it's already been spud/drilled to where the ST is planned?

Just my thought, I could be completely wrong.

[buffythebuffoon] 06/2/2023 07:50

I’ve acquired a cynicism of anything PB says, so was wondering why he didn’t wait for us to spud Royston before issuing an RNS, like the good old days of TXP saying what they do and doing what they say (there was a short period believe it or not).

Or is it just a badly worded spud announcement?

Buffy

[kaos3] 06/2/2023 07:37

will be buying back...

[soggy] 06/2/2023 07:17

And there she is....isn't she a beautiful sight...the long awaited RNS! We're finally back into the drilling business.

Good news, though I wish they'd get someone who has a proper grasp of grammar to proofread their RNS before publishing - it looks very amateurish: "...targeting to drill..." and "The well is anticipated to be drilled..."

Nonetheless - let the good times roll!



CALGARY, ALBERTA (February 6, 2023) - Touchstone Exploration Inc. ("Touchstone", "we", "our", "us" or the "Company") (TSX, LSE: TXP) reports that it has commenced operations at the Royston-1X sidetrack well located on the onshore Ortoire block in the Republic of Trinidad and Tobago. Touchstone has an 80 percent operating working interest in the well, with Heritage Petroleum Company Limited holding the remaining 20 percent working interest.

Touchstone has completed the mobilization of Star Valley Drilling Rig #25 to the Royston surface location, and the drilling rig has passed all required pre-drilling inspections. Royston-1X is a sidetrack well reentering the previously drilled Royston-1 well and is expected to be drilled to a measured depth of 11,300 feet, targeting hydrocarbon accumulations in the Middle Miocene Herrera overthrust, intermediate, and subthrust sheets.

The Royston-1 exploration well was drilled in 2021 to a total depth of 10,700 feet and identified over 1,000 feet of Herrera section in the overthrust and intermediate sheets, encountering light, sweet crude oil in both sheets.

Touchstone is targeting to drill the Royston-1X well through the previously tested Herrera sands to penetrate new sands at the base of the intermediate sheet and into the untested subthrust sheet. The well is anticipated to be drilled and logged within 45 days, and the Company will provide further updates when drilling operations are completed.

Paul Baay, President and Chief Executive Officer, commented:

" The Royston-1 well drilled in 2021 showed tremendous potential, flowing significant volumes of 33-degree API oil from both the overthrust and intermediate sheets; however, mechanical challenges prevented meaningful production from the well. The challenges encountered at Royston-1 and the lessons learnt have helped us to design a drilling plan to optimally evaluate the Herrera Formation. As we target the deeper level, our enhanced understanding of the structure will allow us to assess the full potential of the intermediate sheet, which was not fully penetrated or completed in Royston-1, as well as the subthrust sheet which is a prolific target in offsetting oil pools.

Following our recent capital raise, we are excited for 2023 as we commence our latest drilling program and continue construction of our Cascadura facility with a goal of bringing on production as soon as practicable."

[pro_s2009] 03/2/2023 14:49

Shell CEO Sees a World ‘Desperately in Need’ of Natural Gas

New CEO Sawan sees the gas business growing, volatile markets
It’s too early to say worst of Europe’s energy crisis is over

By Will Mathis and Francine Lacqua
2 February 2023


Shell Plc’s natural gas business can continue to grow after making record profits in 2022, as the global thirst for the fuel no signs of slowing, said Chief Executive Officer Wael Sawan.

After years of questio...............