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TXP Touchstone Exploration Inc

50.50
-0.50 (-0.98%)
28 Mar 2024 - Closed
Delayed by 15 minutes
Share Name Share Symbol Market Type Share ISIN Share Description
Touchstone Exploration Inc LSE:TXP London Ordinary Share CA89156L1085 COM SHS NPV (DI)
  Price Change % Change Share Price Bid Price Offer Price High Price Low Price Open Price Shares Traded Last Trade
  -0.50 -0.98% 50.50 50.00 51.00 51.00 50.50 51.00 95,357 08:02:22
Industry Sector Turnover Profit EPS - Basic PE Ratio Market Cap
Crude Petroleum & Natural Gs 28.35M -3.2M -0.0136 -65.44 208.45M
Touchstone Exploration Inc is listed in the Crude Petroleum & Natural Gs sector of the London Stock Exchange with ticker TXP. The last closing price for Touchstone Exploration was 51p. Over the last year, Touchstone Exploration shares have traded in a share price range of 40.50p to 94.50p.

Touchstone Exploration currently has 234,212,726 shares in issue. The market capitalisation of Touchstone Exploration is £208.45 million. Touchstone Exploration has a price to earnings ratio (PE ratio) of -65.44.

Touchstone Exploration Share Discussion Threads

Showing 35726 to 35746 of 39425 messages
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DateSubjectAuthorDiscuss
09/2/2023
13:20
HBW- to add to your point - From the RNS in Dec '21 - PB already mentioned commerciality of the Royston find -"This third test confirms the commerciality of the newly discovered light oil pool at Royston. Data from all three of the production tests have confirmed that we have a long-term oil project that has the potential to provide future economic benefits to our shareholders and the country. This test was the final of three production tests of the Herrera Formation which, as a group, were designed to assess the full 1,014 feet of gross section (393 feet net) identified in the well bore at depths between 9,686 feet and 10,700 feet. The first test evaluated the potential of the intermediate sheet in the lowest portion of the well while tests two and three evaluated the overthrust sheet above. All three of the tests encountered economic oil and confirmed the presence of hydrocarbon over the entire interval. This information, in the context of the 3,156-acre structure as defined in our 2D seismic interpretation, confirms a large volume of resources in place on the Royston property. To clarify, the final production test was the only test properly configured for an oil test and more accurately depicted the productive potential of the reservoir. We will now be using the data to formulate a long-term field development plan including a drilling program to further evaluate the intermediate and subthrust sheets in the Herrera Formation of the Royston structure. We also have the benefit of being able to use data from the analogous Penal/Barrackpore pool that has in excess of 80 years of production history. With existing road infrastructure in place, we have the ability to monetize our test production volumes by trucking to existing sales facilities to process the oil. This can be achieved in parallel while we design facilities to tie in oil volumes and dispose of produced water. We will take the opportunity to implement best practices both below and above ground to optimize value with minimal environmental impact."
charggg
09/2/2023
12:48
So with Royston side track drilling to be completed within next 45 days - would be interested to know if we have a resident satellite image expert to keep an eye out for a flare?
charggg
09/2/2023
12:48
They have repeatedly said that drilling out Cascadura and getting production to 200m is their priority.

More important getting to 200m is probably the aim of the Trinidad state Heritage company and the ministers of energy and finance.

Assuming TXP are seriously looking get some additional licences it’s likely that they will be asked and happily agree to push Cascadura as fast as possible. Also that cashflow will underwrite the bids on new licences.

So Krakken maybe 2024 once the EIA is underway for Royston?

davidblack
09/2/2023
11:04
Plans for Kraken are not defined, but I think latest thought is that it will be in 2024 sometime. It will be an expensive drill, so cash is being spent on bringing Cascadura up to speed first - may also depend on the degree of success at Royston side-track?
king suarez
09/2/2023
08:31
Chargg agreed, they obviously think it's commercial already.
Re the upcoming test, we know there is oil under high pressure in the intermediate sheet they are testing. There is also quite a lot of that sheet they haven't tested and odds are that at least some of that untested section will have more oil in it.
So quite a high chance of commercial success you would think with the upcoming well.
The main risks seemingly being can they get a sustainable commercial flow rate and could something else go wrong with the well.

homebrewruss
09/2/2023
07:50
HBW- would you class Royston as appraisal drilling with a much higher chance of success? Surely PB wouldn't show over 5 development well locations on the slide - if the minimal flow rate seemed achievable for commerciality?
charggg
07/2/2023
08:48
Shore Cap update:
pro_s2009
07/2/2023
08:47
Canaccord update :



.

pro_s2009
06/2/2023
19:13
Kraken is certainly the Guyana well if it delivers. Can't wait!

Dunderheed - easy enough to keep levelling accusations of incompetence at the company. I was told by an oil company CEO, a good friend, a few decades ago just how difficult it was to get anything at all done in Trinidad.

I am far from surprised by the company's failure to get any progress beyond a snail's pace. If it was as straightforward as you seem to think it ought to be, the prospects would have been brought discovered and brought onstream long, long ago. My sympathies are with the company and Paul Baay in particular. I do not agree at all with the widespread view that he is incompetent!

hiddendepths
06/2/2023
14:54
Chargg the market still needs convincing that TXP can produce from Royston commercially. Touchstone think they know where the water is in the overthrust and can selectively produce from there to make it economic.
The intermediate on the other hand produced at a very good rate and with no water from a relatively small intersection but was overshadowed by the inconclusive overthrust result.
Fingers crossed it's crystal clear from this well that the intermediate sheet is highly productive and maybe we also get something good from the subthrust exploration.

homebrewruss
06/2/2023
14:41
And came across an interesting comment on the Kraken prospect by a poster called Richard Sneller on Twitter."TXP. If Kraken comes in ... Trinidad becomes the new Suriname/Guyana. Most exciting drill of 2022. Hat-tip to a boozy Frenchman who got me in years ago. Not investment advice. Obviously."hTTps://twitter.com/trickytenbagger/status/1450911305506906115?s=46&t=1blcxaDHYvu2tnR6wwSzWw
charggg
06/2/2023
14:36
Is Royston still an exploration prospect?Slide 12 is titled " Royston development", which follows Slide 11, titled "Cascadura development"Royston is already a discovery, and current well seems more of a development well than exploration?Then follows Slide 13; "Kraken – Cretaceous Prospect"January '23 presentation file;hTTps://www.touchstoneexploration.com/wp-content/uploads/2023/01/Corporate-Presentation-January-2023.pdf
charggg
06/2/2023
14:27
Yes. IMV.
It also depends what any failure is due to, it may be drill specific.

They have previously said they have another 20 odd other exploration targets post Royston implying that they view these as separate.

Cascadura is very close to Royston.for instance but so far completely different with a highly stacked formation and lots of gas.

homebrewruss
06/2/2023
14:20
HBR, I need to go back over some of the old presentations to check on those targets. Are you saying you think a failure at Royston won’t impact any of the other prospects?
joey1998
06/2/2023
14:17
If Royston fails for geological reasons then I would expect any exploration in Ortoire to be re-evaluated. I mean, why wouldn’t they do that?
joey1998
06/2/2023
14:16
Eventually Cascadura seems extremely negative.Sounds like you are just trying to talk it down.
ballymoss18
06/2/2023
14:14
Joey, what about for instance drilling the extension (exploration) of Cascadura into the newly acquired block which I think they already have mapped out (but not shared), also updip at Chinook, Steelhead which is in the Karamat and Krakken in the Cretaceous.
Lots of different exploration targets to go for.

homebrewruss
06/2/2023
14:07
Would the next steps not be to follow the exploration phase 2 previously announced? Which wouldn’t take 2 years ?
johnoxxx
06/2/2023
13:49
If Royston-1X is failure then it could call in to question the assumptions that are driving the exploration programme. (It would depend why it failed).

Moreover, if it does fail, the producing assets would be Coho and - eventually - Cascadura, with nothing else on the horizon even close to production, as nothing else has been discovered. Drilling would be limited to in-fill wells at Casc whilst they go back to the drawing board to figure out next steps. That could easily take 2+ years.

joey1998
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
johnoxxx
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.
ballymoss18
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