Touchstone Exploration Share Discussion Threads

[txp2themoon] 04/7/2024 18:21

Hi first time poster was recommend to join the BB, just thought I would say hi.

[herman007] 04/7/2024 15:37

Yes. The cas wells would have to be a complete failure not to be able to finance a hefty drilling campaign, this assumes at least two additional wells drilled this year. As for dividends, I think it would be wrong to focus on this until we get production to a level where they do not have the capacity to spend the cashflow on drilling. They will probably never have the organisational capacity to have three large rigs going continuously, even if they at some point could finance it. The numbers here might be off, but let's say that when they get to a CAPEX of 80-100 million, any cashflow beyond that should be paid out as dividend.

[kaos3] 04/7/2024 15:12

exactly and i would add ... they should drill reasonable, pay off some debt and give something to the shareholders.... along the way

i would not just betting all the winnings all the time ... until ... always shtf -black swan

[redartbmud] 04/7/2024 15:08

herman

Sounds good, but can they generate a return from future production that exceeds the cost of digging the wells, therefore generating a positive cash flow?

or

Will they just keep swimming against the tide, until one day they discover that the petty cash has run out?

For BP's sake, I hope he buys round trip tickets when he holidays in T&T, otherwise he might be rowing back to Canada one day.

red

[herman007] 04/7/2024 13:18

The puzzle is slowing coming together to something that looks like a comprehensive plan with an astronomical theoretical upside. I believe the company currently is strongly mismanaged and lacks any sign of operational excellence, but out of the misery I can see an opportunity that no management should be able to screw up even if they tried. When cas 2 and 3 comes online, they will produce from multiple zones, indicating a high initial production with a sharp decline settling maybe at 20 mmcf/d after 6-9 months. These wells combined with the current available cash in the merged entity, should allow them to drill continuously at Cas, as the wells will be self financing. Having a total of 8 producing Cas wells by May/June of 25, would allow them to easily finance a 30-50 million USD exploration program in 2H25 if that is their priority. They could also do a single exploration well in parallel to cas drilling in 1H if they want to keep the market excited. A company that can fully fund continuous drilling with one and later two rigs, is extremely attractive. What remains to be done is to learn from several years of continuous screw ups, and a company with continous drilling showing signs of some operational excellence could produce significant shareholder value. Get cas to 200 mmcf/d and make one significant (and proven) new discovery, and I think we will be at 3 CAD.

[cat33] 03/7/2024 14:12

Correct link https://oilman.beehiiv.com/p/oilman-jims-letter-july-3-2024

[cat33] 03/7/2024 14:07

Great progress nowJim's summary https://mining.beehiiv.com/p/jims-mining-letter-july-2-2024Worth reading

[eggchaser] 02/7/2024 15:50

And that's 30p breeched... so a message to the board...Pull your heads out of each others bottoms and support your loyal shareholders, for whom you owe your lofty positions in the company as without our support there simply would not be one.Rant over - as you were....

[11_percent] 02/7/2024 10:58

Volume

6 trades.......mmmmm.

[kaos3] 02/7/2024 10:48

trinidad will not care much obut their own production as long as they can reexport venezuelan product for a fee with us agreement

[11_percent] 02/7/2024 10:42

It is holding 30+......but lets hope we do not get a presentation from PB.



free stock charts from uk.advfn.com

[kaos3] 02/7/2024 09:32

in between knowing being awarded the block and producing all the relevant papers it takes only a year it seems to me.

that is what they have to deal with. the general cultural vibe. MO.

[spangle93] 02/7/2024 08:38

Exactly kaos - over a year since the June 2023 announcement of the Cipero block award




Meanwhile, still no confirmation of the completion of the Rio Clara asset exchange, which in Jan 2023 was "expected to close prior to the end of 2023" and then was apparently expedited in October with a supplemenral agreement.


Ref your second post, they are also evaluating historic discoveries, as per the website
"Our geological team reviewed the logs and historical data from these wells and identified four established “legacy” pools in the Ortoire property where production has previously occurred. These legacy pools have diverse production histories and now represent potential future reactivation or recompletion opportunities. Historical pools on the Ortoire Licence include:

Balata West with conventional oil produced from the Herrera formation;
Mayaro with conventional gas produced from the Gros Morne formation;
Maloney with conventional oil produced from the Lower Cruse formation; and
Lizard Springs with fractured shale oil produced from the Lengua/Karamat formation.

No production is currently associated with these legacy pools; however, we continue to evaluate the potential to develop these pools in the future.

[sirmark] 02/7/2024 07:51

Great start to the morning, now let's see a strong reversal from the 3 year low and a major bounce back to the 50/60p

[kaos3] 02/7/2024 07:28

i wonder what are they doing all day.

1. merger
2. operating
3. building further Casca infrastructure
4. seizmics
5. reservoir managment study ... stimulation of casca wells and the field development

i like they are going to drill very deep in the south next year. they must be convinced.

but

why many deep drills? it is so risky regarding fragile debt finances txp is operating on. why not a sound combination of development and exploration?

sounds like un necessary gambling to me. also nothing much about trini assets after the merger.....

they need a swiss, korean, japanese trainings on efficiences, productivity trainers getting employed

HR and psychologists should get involved for a few semesters. individual interviews, personal and group performance metering etc

[dunderheed] 02/7/2024 07:13

It would have been nice for a production update as well?
I'm assuming no real changes then as anything material should be provided, regardless of ongoing acquisition IMHO.

[kaos3] 02/7/2024 07:13

wow - so many days before telling it, the above .... i thought they would not RNS it

interesting commitment differences. one 4 wells and 2.2 mil, the other just one well but much more processing and much more money

why is that so and what could be appropriate rationale?

in experts we have complete trust as they are the only important factor

imho

[kaos3] 28/6/2024 15:38

the Cipero and Charuma blocks were awarded to Primera Oil and Gas Ltd (a subsidiary of Touchstone Exploration Inc) and the National Gas Company of T&T Ltd Explorations and Productions (NGC E&P) Investments Ltd.

[spawny100] 28/6/2024 15:31

Chart still dire. One of the very worst in my watchlist. Looking like heading into the 20's.

[redartbmud] 27/6/2024 13:28

Maybe if PB is welded to the rig?

red

[sleveen] 27/6/2024 11:01

Under promise...?

[sirmark] 27/6/2024 10:35

The welding has started !!! this is about to transform the chart and a reversal is about to get into to full swing !!

Wont be long till hook up ....

[11_percent] 27/6/2024 10:05

Flowline going faster than I thought it would.

Commission in September???

[zho] 27/6/2024 09:43

The flowlines to connect the newly drilled wells at Cascadura C to the Cascadura facility are now strung out along the right of way and welding of the line is underway.

[kaos3] 26/6/2024 13:31

1 h 200mda average is resistance to be broken atm