Touchstone Exploration Share Discussion Threads

[mount teide] 11/10/2018 08:59

"With the majority of our drilling obligations satisfied, the advantage of having our large diversified asset base allows us to focus on the assets that provide the greatest shareholder returns. We continue to refine exploration prospects on our Ortoire property and are very excited about its future developmental potential." Paul Baay


The 2017 and 2018 drilling programme has demonstrated that the Coora 1 Block is producing exceptional production performances relative to the average for the various formations in the other on-shore blocks across T&T. Would expect this block to be very prominent when the company is putting together the 2019 production development drilling programme:


Last year's two wells drilled on the Coora 1 block produced at a combined rate of 237 bbls/d some nine months after being drilled and put on production.

March 2018 Update:
Coora 1 Block
The CO-368 well has been producing for 271 days from 41 feet of net oil sand in the Cruse formation. The well has produced approximately 14,010 barrels of oil, representing an average of 52 bbls/d. The well remains on pump with a current field estimated production rate of approximately 41 bbls/d.

CO-369 is producing from 71 feet of net oil sands in the Cruse formation with an average oil production rate of 188 bbls/d over its first 262 days. The well is currently pumping, and current field estimated production is 196 bbls/d.

Today's Update:
Coora 1 Block

'CO-372 is currently producing on pump at a field estimated rate of 137 bbls/d. CO-372 has produced approximately 5,500 barrels of oil since being placed on production on August 18, 2018.

CO-373 is producing on pump at a current field estimated rate 50 bbls/d. The well has experienced high volumes of gas, which have restricted the pumps ability to operate at full capacity. New downhole equipment is expected to be installed to accommodate the higher gas volumes.'


Interesting to note that four of the original five exploratory drilling locations on Ortiore have now received certificates of environmental compliance enabling drilling and that the number of drilling prospects on the bloc has now increased to 11.

'Ortoire Block - We have identified seven potential drilling locations on individual prospects within the exploration property along with four additional follow-up opportunities. The Company has received certificates of environmental compliance on four of the 11 locations and is proceeding with applications on the remaining prospects.'

[crooky1967] 11/10/2018 08:02

A lot easier to pay off your debts when you are producing 3000 bopd by 2020 and the share price has more than doubled. Using cash to drill more wells is a no brainer.

[mount teide] 11/10/2018 07:57

Tremendous news - well done to Paul and the team - another development milestone passed.

All those MM's moving up onto the bid yesterday afternoon during a wider market sell off was a clue to today's news.

[letmepass] 11/10/2018 07:55

Debt 11 Mill but have 10 million in bank so not too bad

[zengas] 11/10/2018 07:54

The large debt is not 'large'. It's intentional strategy and relevant to the size of the business. They have 4 years to pay down that loan or refinance it/keep one in place. Quarterly payments don't start until Jan 2020 15 months away at $3.24m a year and runs until October 2022 which is 4 years away when it is to be cleared. The strategy is on building sizeable production and reserves first. Good to see 2,000 bopd broken for the 1st time with plenty of drilling to come.

[che7win] 11/10/2018 07:52

No need to pay any debt down; they are doing the right thing expanding and we all know that.

[grannyboy] 11/10/2018 07:50

Pink chamagne has been on the breakfast menu this morning...well it would have been if I'd had any..

[brasso3] 11/10/2018 07:48

The debt is less than 8 months production at 2000 BOPD.

[letmepass] 11/10/2018 07:47

Hopefully they can pay off some of the large debt

[brasso3] 11/10/2018 07:38

The market cannot keep undervaluing TXP when compared to CERP/ TRIN.

[novicetrade68] 11/10/2018 07:36

Impressive.

[crooky1967] 11/10/2018 07:30

Onwards and upwards to the next milestone. Great stuff.

[che7win] 11/10/2018 07:25

Excellent!

[brasso3] 11/10/2018 07:22

2000 BOPD!

[gabrieloak] 11/10/2018 07:19

Great update from Paul Baay! Well done TXP!

[mr. t] 10/10/2018 21:32

I've pivoted heavily into O&G so I hope high quality O&G continue to outperform...

[mount teide] 10/10/2018 20:38

Many traders favourites with extremely frothy valuations have taken a real hammering over the last few months:

-35% Fevertree
-40% Plus 500
-35% XLM
-35% Die Roboter
-34% Debenhams
-33% Purplebricks
-44% Zoo Digital
-23% GVC Holdings

The wider general market should benefit from having the froth wiped off the top.
High quality O&G sector stocks have bucked the trend and provided a safe haven from the storm raging outside across the general market.

[mount teide] 10/10/2018 17:19

cfc - well done! - i halved my remaining holding again following that post and now hold circa 400k at an average of 15p. Since last summer i've seen a six figure profit build and then evaporate quicker than morning mist as a result of that unexpected huge placing at a massive discount to the previous share price highs.

Giving them until early in the new year to start rebuilding trust and generating some shareholder value - otherwise will look to move the remaining position elsewhere.

[captainfatcat] 10/10/2018 16:48

"captainfatcat 26 Sep '18 - 12:48 - 2969 of 3126

MT probably a wise move on TRIN I feel the share price is going to trade side ways for a while with any rise sold into as placing money looks for exits.

Also a head and shoulder chart pattern looks ominous, should it play out sub 15p looks likely."

-------------

Nice to call it right once in a while.

[mount teide] 10/10/2018 14:53

L2: 4 v 1 / 19.0p v 20.6p ( 3 MM's moved up to join Peel on the Bid in the last hour )

[mount teide] 10/10/2018 12:50

Look East to the ultra high population Nations of SE Asia, China and the Pacific Rim if you want to see where all the O&G consumption growth will continue to come from over the decades ahead.


Global / Regional Oil consumption 1965-2017 - 2018 BP Statistical Review of World Energy

United States consumption is 3.5 million BPD higher than in 1973, which amounts to growth of just under 15% in 45 years. Demand in the EU has declined by 13% since then.

But demand in the Asia Pacific region climbed from 9.1 million BPD in 1973 to 34.6 million BPD in 2017. This huge increase in demand is the primary reason the global demand curve has marched steadily higher.

Of course, Asia Pacific is where most of the world's population lives - therefore demand growth is being driven by billions of people who use a lot less oil per capita than the US, but whose per capita consumption is not only rising but rapidly accelerating.

Chinese demand has increased by 5.0 million BPD over the past decade, by far the most of any country. But Chinese per capita demand is still only 3.3 barrels per person per year.

The US consumes about 22 barrels per person per year. That is partially a result of a more mobile and affluent population, but US consumption also drives a much larger economy.

To put the current US demand in perspective: if Chinese per capita demand were as high, it would be nearly as great as the entire current global consumption.

In second place for the largest increase in oil demand during the past decade is India, which has seen its demand increase by 1.7 million BPD and whose growth is forecast to overtake China over then next decade. Third place will probably be a surprise to many - Saudi Arabia has increased its oil demand by 1.5 million BPD during the past decade.

The largest decrease in demand over the past decade was in Japan, which saw oil demand decline by 1.0 million BPD. Second place will be another surprise, as the US saw oil demand decline by 800,000 BPD. Italy was third with a decline of 493,000 BPD, while the entire EU saw demand fall by 1.7 million BPD.

So, all the demand growth in oil over the last 30 years has come from the ultra high population Emerging Nations - the EU, USA, NZ and Australia collectively only account for 12% of the global population and this is forecast to fall to just 8% by 2030. And the good news for O&G and copper investors is that the demand growth from these regions is still in the foothills due to its very high population, very low but rapidly rising consumption per capita compared to the West and need to reduce its energy generation reliance on high polluting coal for health reasons.

[crooky1967] 10/10/2018 09:09

We could be due one either tomorrow or next week as that will be 2 months after the last one.