Touchstone Exploration Share Discussion Threads

[joey1998] 16/11/2023 19:49

There’s a guy on here who was going to get C A S C A D U R A on his football shirt. Treats TXP like it’s his local football team. Can’t say anything bad against it else you’re the enemy. Think he was going for number 90 on the shirt but he needs to adjust it to 48 now.

[dunderheed] 16/11/2023 17:16

Who is football shirt guy?!

[eggchaser] 16/11/2023 16:14

Judging by the share price volididity I wish they had of waited for the completed 5 year plan - and fixed those compressors - or is something else a foot???

[joey1998] 16/11/2023 16:12

Where’s football-shirt-guy to tell us why the market is wrong today?

[11_percent] 16/11/2023 14:51

OK.....here we go......at long term support again......will it hold.





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It bounced off 3 weeks ago.......will it hold now.


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[11_percent] 16/11/2023 14:38

11%, just because they haven't worked doesn't mean they won't work. If they had been tested prior to shipping and therefore proven to work then unless they fell overboard it shouldn't take too much to get them up and running.


Its not about the compressors......they will get them to work at some point.

They have been producing 60 in the past.....Domus on the Discord says they have been at 70.
The question is.......why are we at an average of 48 in October......its not the compressors......as PB said we could flare as long as we like......there is not a TandT restriction.

My guess.....something else is wrong with the plant.....thats my assumption....dont know......but we are being spun a story.


Take Coho as an example.....there are plenty others.

We were told the Coho pipeline was complete.....and it was.....up to the Shell plant fence......it took several more months and a design change to get the pipeline completed.

When it went into production......they implied everything (lie by omission).....and a few months later we found out it was not producing at full capability.
We were told it was the Shell plant, the Coho gas was too high pressure and it was backing out the Shell gas.......hence the reduction in Coho gas flow.
Six months later we were told that Shell were going to fix it in a few months.

Then it came out in one the presentations that it was the water cut in the Coho gas.......and the well needed a workover......and that was the reason for the low flow.

Now we are talking about a second well at Coho to make up the flow......we are also talking about the other gas field to be drilled from the Coho pad.

Can Shell take all this gas......or was that just a story......and the Coho well could not flow at the previously assumed rate.


The Casc story is going the same way as the Coho story.

===============

You're being incredibly negative on everything at the moment which isn't exactly helping the sp!

I hope I am not being negative......but being realistic.

Been saying similar for 3 years now.

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If they drill and prove more resources, even without producing, it increases the value of resources which should impact the share price in a positive way for a change!!!


"even without producing".....there is no point selling if we are not going to produce anything.

================

It's clear the cash is starting to flow into the coffers, let's just hope it doesn't all flow right back out again!!


Ok.....but there are better oil companies out there now......AXL, JSE, PTAL, etc
TXP just present a load of lies.....or at best......lie by omission.

There is just no way you can take anything these guys say seriously.

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I am all but out now.....and will look to see how far this is going to fall.

I will say it now......there is ZERO chance of TXP producing a 5 year plan in 4 weeks.

[lazarus2010] 16/11/2023 13:33

11%, just because they haven't worked doesn't mean they won't work. If they had been tested prior to shipping and therefore proven to work then unless they fell overboard it shouldn't take too much to get them up and running.

You're being incredibly negative on everything at the moment which isn't exactly helping the sp!

If they drill and prove more resources, even without producing, it increases the value of resources which should impact the share price in a positive way for a change!!!

It's clear the cash is starting to flow into the coffers, let's just hope it doesn't all flow right back out again!!

[11_percent] 16/11/2023 13:30

Compressors in the rear view mirror......


I am afraid I don't believe a word of that.......sounds like the usual lies.

There was also a design issue.


CC (chief clown) said that there was not a problem with flaring.
Given that we are flaring due the compressors, then the compressors are not the reason for the low production.

In theory....we should be able to produce 60, or more, and flare as much as we like.

[11_percent] 16/11/2023 13:23

The main message and take-a-way from the recent presentations in London was......DRILL TO FILL.

Where are we now......dont even produce the gas we have.......and we are going to drill in January.....and do what?


The IIs in London who were the target of the presentations will not be impressed.

[lazarus2010] 16/11/2023 13:19

Compressors in the rearview mirror sounds to me like they have identified the problems, ordered the parts and expect to have them up and running before end 2023. Presumably they will then increase production by opening the chokes and build to 60mmcsfpd and will stop there until price agreement reached for increased price

[11_percent] 16/11/2023 13:19

The compressors have never worked.

[ballymoss18] 16/11/2023 13:10

Also did JW know the compressor wasn't working and would input production before selling his shares.

[holdbucket] 16/11/2023 12:52

Considering what we heard yesterday, should we view recent board selling in a new light?

[redartbmud] 16/11/2023 12:47

johnoxxx

Tick tock, tick tock.
Revisit my post thid day on 16 November 2025 and see who is right.

red

[johnoxxx] 16/11/2023 12:40

Yes because they didn’t have Cascadura producing the cash previously - so just slightly different now - can’t compare the two

[redartbmud] 16/11/2023 12:33

johnoxxx

That is presicelt what he has been doing for a few years. It is his business model.

Wake up and smell the coffee.

red

[arlington chetwynd talbott] 16/11/2023 12:12

Both TXP and TRIN look like they have been badly let down by their management over the last couple of years, but a contributing factor seems to be that Trinidad is just not a great place for oil and gas businesses. It has oil and it has gas, which is a start, but then the problems begin.Still, I would love to see TRIN under new management and you no doubt feel the same about TXP.

[joey1998] 16/11/2023 12:07

KS
> Based on what exactly?

Their performance of delivery to date. I’m surprised you are asking.
Assuming well drilling begins in January. They said three wells back-to-back and then testing. That will take the entire of 2024. Not to mention to construction of the tieback. I could easily see that going into 2025. Then inspection of the tieback etc.
Baffling to me anyone would think they can deliver anything in these “it’ll take six months” timelines they love to throw around.

[johnoxxx] 16/11/2023 12:06

Red, respectfully that is a load of rubbish. Slowly pay down debt and drill the odd well? They are planning 2-3 back to back drills at Cas C at start of next year. You also say about large debt, the debt is certainly not large, even at 48mmscfd they could pay the debt off very quickly if they held back on drilling or gradually and drill at the same time. Have a look at the figures that Cas is generating even at 48 then look at 60mmscfd. At least try and post accurate information please

[dunderheed] 16/11/2023 12:01

Yes and so what re EOG prices?
CC negotiated his price and unless referred in contract within the context of production profiles he is playing a dangerous game with OUR money.
By all means, try and negotiate a better price but NOT IN BLOODY PUBLIC.
This is as embarrassing and amateur as their operational track record.
Of course I've been saying this for years and been constantly chastised for this from the equally Chief Clown fan club but whilst I hold and hurt by doing so, I take some pleasure from being one of the first to be right!
Best of luck all.

[zho] 16/11/2023 11:53

I think Paul said that EOG Resources had revealed that they were receiving $4.25/Mcf, well above the $2.40 we think NGC are paying TXP.

It seems that the correct figure might be even more than that because EOG's 2022 R$A show a figure of $4.43/Mcf received during 2022, compared to $3.40/Mcf in 2021 and $2.57/Mcf in 2020.

[king suarez] 16/11/2023 11:33

"I fully imagine the plant will level out at less than 60mmcfd for the foreseeable future; that’s into 2025 or 2026 IMO." Based on what exactly?

They are drilling 3 x development wells at Cascadura in 2024 - these wells can be on stream in the 2nd half of 2024 (after flow testing etc). Tie in of these wells are what is expected to bring production from 60mmcf/d to 90+ (depending on when they execute the $5m-$6m capex required to expand the facility to be able to take more than 90mmcf/d - small change compared to the drill cost).

It would be 'crazy' for TXP to hold off tieing in successful development wells at Cascadura into 2025-26?

Clearly they are hoping to have agreed a price renegotiation at some point in H1 2024 before allowing bringing further production on stream (or letting the current wells go above 60). They must be confident some agreement is in the works as it's the 3rd time they have alluded to this in presentations and yday was the first time PB has formally told the market they are purposefully intending to curtail production whilst negotiations take place.