Touchstone Exploration Share Discussion Threads

[davidblack] 15/2/2023 12:43

The Chinese who are often in these Labour bands come from western China. A dirt poor place with no prospects. The women work in assembly factories in the east and their men are simply not wanted or permitted to live in the coastal areas as they have no residency permit.

Essentially apartheid.

Hence why they are disposable Labour on these finance deals. Many aren’t even Han Chinese but rather Hui and ethnic Moslems from the NW. Its not all shiny cities there.

[11_percent] 15/2/2023 11:25

Not saying they are good people.

[dunderheed] 15/2/2023 09:32

11% - the Chinese labour is often cheaper than local labour and can include prison conscripts.

[redartbmud] 15/2/2023 08:58

11_

I undersatnd that, more sinister is when they fund many of the projects on terms that are unafforbable in the long term for thr governments concerned. When they can't pay, they gain control of the asset.

red

[11_percent] 15/2/2023 08:49

Yes.....seen some of the discussion on the Discord......they are bumping their gums about how long it took to get Coho on-line, among other things.

Coho was not delayed......it did not take a long time to complete.......that is the norm......thats how long it takes.



Its interesting to note that the Chinese carry out many construction projects in the 3rd world.

They import Chinese labour (inc management) to these countries to build the projects.......NEVER use local labour/management...recipe for disaster.....you can not change a culture.......and the Chinese know it.

[dunderheed] 15/2/2023 08:05

Yep been saying this for ages but boy we've had some nice photos to pontificate about, lol.

[11_percent] 15/2/2023 08:03

Its starting dawn on the guys on the Discord that Casc is not going to be on-line at the end on Q1.

Should be on-line by end of Q3.......with a stretch target....end of August.

We should get an share price spike on a good Royston-ST result.....then a pullback till we have a clear Casc start date......that would be the time to load up for good.

[dunderheed] 14/2/2023 14:09

redartbmud - surely if they get up to 2p 30MM bbls Royston (so still potential upside from further development) plus possible 1TCF recoverable Casca (with further upside possibility) we'd have to be looking at around £600MM equivalent TO to a small / medium independent - £500MM to private equity?
This could be possible within a year?
IMHO, DTOR.

[redartbmud] 14/2/2023 13:58

best buy offer has been 67.8p on the occasions I have tried, so a duster for my portfolio so far today.

red

[che7win] 14/2/2023 12:38

Outside chance of TXP takeover happening is increasing as we find more gas/oil:

BIG OIL’S BACK IN FASHION
By Irina Slav - Feb 12, 2023, 6:00 PM CST

European big oil companies saw their share prices climb this week as all of them announced plans that involve a sort of return to their core business. The focus on increased investor returns has turned out to be successful for many oil companies. The other pretty simple truth that prompted Big Oil majors to step back from their transition path may well have been the subpar performance of low-carbon energy lately

Over the past couple of weeks, Big Oil majors reported a string of record profits for 2022. This was no surprise after an even longer string of record quarterly income reports as oil and gas prices soared during much of the year. What was a surprise was an apparent change in investors’ sentiment towards their industry.

Energy industry vet and market analyst David Blackmon last week noted in a podcast that U.S. oil companies have been outperforming their European peers consistently thanks to their greater focus on their core business. Meanwhile, their European counterparts strived to respond to certain shareholders’ expectations of a transition in tune with the greater, government-led transition to low-carbon energy.

Related: Climate Crisis Tide Turns For Big Oil

Shell is planning to leave its investments in renewable energy where they are and spend more on expanding gas operations. “Our philosophy has been a real pivot toward energy transition investments,” new CEO Wael Sawan said. “But we will make sure that those investments go into the areas where we can see line of sight toward attractive returns to be able to reward our shareholders.”

TotalEnergy, meanwhile, will be focusing on liquefied natural gas after a stellar year for that commodity amid the European energy crunch that began in the autumn of 2021 but flourished in 2022. CEO Patrick Pouyanne referred to LNG as a pillar of TotalEnergies’ growth in the future.

[dunderheed] 14/2/2023 09:56

JM respectfully some of your comments aren't appropriate and it is ridiculous you have to send such a link to the CEO of TXP. Such films etc are nothing new - but the JSE management are leagues apart as well of course.
1. To continually refer to blanket "the locals" is incorrect - it is the local team Calgary has put together that is under-performing. Is XM (locals?!) team under-performing?
2. The perceived lack of progress rests squarely with the senior management in Calgary.
3. They designed the management structure and have importantly set the expectations and are responsible for the total project control and when "issues" first started appearing should have acted upon this differently a long time ago.
4. Regarding comments on LSE regarding T&T construction industry - this is not "construction" this is "o&g construction" where we pay and expect the best.
5. If you're aware of these shortcoming - why weren't "management"?
6. The writing and warnings have been on the wall for a long time. To throw loads of expats in situ - is not the total solution (but certainly part) as it will need a new work environment, cultural change and root and branch clear out now. There is also a great selection of "locals" who can do this as well.
7. A relatively inexperienced team still based in Calgary aren't going to be able to do this - and it's going to cost serious money moving forward now.
8. The T&T assets, local G&G team and I'm sure also lot of other human resource are great - but we also need significantly better performance elsewhere - CEO / COO / CFO - the whole C suite because the buck stops with them- when bigger cash-flows arrive or the opportunity costs will keep on mounting.

As ever all IMHO, DYOR.

[junky monkey] 13/2/2023 20:17

Fantastic link, I forwarded it to Paul so he has something to aspire to.

The discord is not a ramp party, and the contrary I’m just as unhappy with the wokeness and lack of ex-pats on the ground as I ever was. Getting quite tired of the lack of efficient progress which is likely due to poor project management, or at least lack of running a project with higher expectations than what is par for the course in Trinidad. Requires an ex-pat(s) to up the game. Locals are too used to status quo which is speed slow and stop. Funny how every country around the North Sea runs circles around this incredibly simple project, but they do it with insanely complicated projects in the middle of an extremely harsh ocean. Go figure. The locals are never going to improve unless they are pushed to improve their game. Just like sports, how do you get better playing weak teams all the time, you don’t. You need to step up and take on the challenges.

[11_percent] 13/2/2023 15:26

This is how its done.

JM and lot of the guys on the Discord have been bumping their gums about getting a photograph each week to show progress....or should I say, lack of it.

Jadestone Energy- Akatara Gas Development.

New video showcasing progress at the Akatara gas development onshore Indonesia in late January 2023 - shot during the on-site monthly management meeting.



We get these every month.

[kaos3] 13/2/2023 13:48

big gap closed ... I keep adding full speed .... for 15 percent -- jse and back in here

last train more or less imho

[chessman2] 13/2/2023 13:31

11%, carnival is next Monday and Tuesday so expect even less work next week!!

FWIW, I’m expecting a rerating to 100p within the next few months and a higher figure towards the end of the year.

[thommie] 13/2/2023 11:06

Just to add: The only reason they couldnt go deeper when they found the surprising hydrocarbons was the lack of power of the former used drill rig that couldnt go deeper. Atm they are using a better and more powerful rig. So lets see what happens. Txp has done very good at drilling under the circunstances with super old equipment and too weak rigs to find what they did. As Dunder said thats not the problem, it's the development execution.

[thommie] 13/2/2023 11:02

LOL 11 percent.Comparing ptals bretana field that has the most simple geology in a known field with drilling in trinidad with endless high pressured faults just shows that you have absolutely no clue.As well there is a big difference between exploration drilling (txp) and development drilling (ptal) even if there wouldnt be the general difference in local geology. After ptal drilled through the same 50m diameter under the ucayali river into the reservoir from the same pad like 15 times to date they know every little inch down to the reservoir. So I take all of your posts with an even bigger pinch of salt tbh.The last royston exploratory drill was executed faster than expected and didnt encounter any drilling problems. The testing problems that occured later are a different story, thats true...

[11_percent] 13/2/2023 10:39

11_

PB is the management!!

red
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No....he is the Leader.....it is HIGH PERFORMANCE MANAGEMET TEAM (the emphasis on TEAM) that carries out the PLAN.

PB is there to hold them ACCOUNTABLE and sack them when they pull up short......get he right guys on the job.

==========

I would bet that TXP do not have a decent Well Site drilling engineer on the job.
Look at PTAL.....every well drilled to the plan.......on budget and on time......that does not happen by accident......they have a guy in the jungle camp that knows what he doing.

Our (TXP) well site drilling engineer is probably at the carnival at the moment....getting the rum punch down his neck.