Touchstone Exploration Share Discussion Threads

[jamesiebabie] 19/11/2014 13:10

14 wells in Q1 in Canada!

[jamesiebabie] 19/11/2014 13:09

Got some more land last month as well.

[blik] 18/11/2014 23:23

( got that from new presentation: )

[blik] 18/11/2014 22:45

OOIP for Cruse formation increased from 34.3MM to 106.3MM for WD-4

[blik] 18/11/2014 22:17

Downtrend still in tact... Very unimpressed with share price so far.

Need these 7 wells to come online and get RNS'd to turn this around. Hopefully they'll add 700bopd+

[dosser2] 18/11/2014 22:05

Not before time

[jamesiebabie] 18/11/2014 21:57

A better end to the day.

[jamesiebabie] 15/11/2014 23:08

Also note that TXP now have Ortoire which is how big? On the map below, I have highlighted [red circle] Goudron, look at the size of it compared to Ortoire.

[jamesiebabie] 15/11/2014 22:53

Laz - TXP has a larger STOOIP.

Look at the top left caption.

[lazarus2010] 14/11/2014 10:49

Brasso, the market cap is c. GBP28mln (Can$49mln), not 12mln.

However when compared to LGO which is currently GBP115mln and producing less than TXP, it does seem to be very undervalued. LGO of course has huge potential from their stated STOOIP figures, but much of that is dependent upon waterflooding which has yet to be proven. I think the main difference seems to be that LGO is AIM listed and has huge volume and easy to get in and out.

TXP appears to be a no brainer, but this all depends upon getting pi's and/or II's to actually buy shares and believe in the future of this company. There appears to be a lot of very undervalued stocks around at the moment, but clearly the PoO is playing on investor sentiment with the bears in the ascendency. If we hadn't had such a big drop, the results from here and over at Caza would probably have seen 20% rises, not falls! Investors clearly being very cautious and waiting for a turnaround in PoO.

aimvho.

[jamesiebabie] 13/11/2014 23:14

It would appear that costs are decreasing as production increases, drilling times are shortening and therefore cheaper and production is greater than they expected.

The killer as for all E&P companies is the PoO at $74/b, but TXP are probably in one of the strongest positions with no debt, increasing production and I suspect netbacks closer to $25/b at $75/b oil.

[jamesiebabie] 13/11/2014 22:01

Brasso - as blik states, debt free and producing $40/barrel netback or were, with 7 wells due to be completed within the month, TXP should be close to 3000 bopd within days.

[blik] 13/11/2014 21:24

Brasso3, they are debt free.

Very frustrated with the share price here.

[brasso3] 13/11/2014 21:19

Jamesie

Just saw your post on EDG thread. What is the story here? £12m mkt cap but producing 2500 BOEPD? I guess there is large debts?

[jamesiebabie] 13/11/2014 18:55

I suspect that my 3,000bopd exit rate for 2014 could be on.

[jamesiebabie] 13/11/2014 18:53

Operations Update

Further to Touchstone’s October 23, 2014 operational update, the Company has drilled two additional wells. The first well was drilled on our WD-4 property to a total depth of 6,482 feet. As indicated on the logs, the well has encountered approximately 600 feet of net pay. The Company will be completing a series of side wall cores in an attempt to gather data for future production and enhanced recovery opportunities. The second well was drilled at our Coora property to a total depth of 3,394 feet and encountered 323 feet of net pay.

[dosser2] 10/11/2014 15:38

Big upward movement, for a while.

[jamesiebabie] 09/11/2014 14:19

The results should be interesting this week and I'm expecting to see a level of income; it would appear to me that TXP are executing their plan well. I expect the next results should be even better as they bring online the new wells.

[jamesiebabie] 04/11/2014 16:38

A quote from the T&T Energy Minster:

"The onshore blocks are “on trend with existing and producing oilfields” said Ramnarine. Daniel Brash, Lease Operators Ltd director and grandson of Well Services Petroleum founder Charles Brash, had said the same, but added he is hoping to get 5,000 bopd out of Rio Claro. Ramnarine described the companies as “three of the most aggressive” companies in oil and gas exploration and production, and said the signing of the licences “can only result in increase in exploration and a commensurate increase in oil production.”

[jamesiebabie] 03/11/2014 18:38

TOUCHSTONE ANNOUNCES SIGNING OF ONSHORE EXPLORATION LICENSE

Touchstone Exploration Inc. has signed an exploration and production licence with the Ministry of Energy and Energy Affairs of Trinidad and Tobago for the Ortoire block in southern Trinidad. Under the terms of the License, Touchstone is the operator with an 80 percent working interest. The Petroleum Company of Trinidad and Tobago holds the remaining 20 percent partner interest and will be carried for the License minimum work obligations. The License is effective for an initial term of six years and can be extended a further 25 years in the event of a commercial discovery.

The Ortoire Block is located approximately ten kilometers east of Touchstone's Trinidad office in Fyzabad and covers approximately 44,731 gross acres (35,785 net to Touchstone). The License includes a commitment for a six year minimum work program which includes technical reviews, an 85 kilometer 2D seismic program and a four well drilling program. Capital requirements associated with the minimum work obligations total approximately $11 million USD over the initial six year term of the License and are expected to be funded from operating cash flows.

James Shipka, Chief Operating Officer, said "the Ortoire Exploration Block adds a significant and exciting exploration opportunity to our Trinidad oil portfolio. Preliminary work on the block performed to date has identified several interesting prospects adjacent to and on trend with established production and at depths shallower than 6,000 feet which is consistent with our current drilling programs."

Michael Loewen, Country Manager, said "we look forward to moving ahead with our exploration program on the Ortoire Block, which has the potential to contribute meaningful oil volumes to Trinidad and Tobago and provide employment opportunities in the local communities."

The addition of the Ortoire Exploration Block brings Touchstone's total land holdings in Trinidad and Tobago from approximately 24,500 working interest acres to 60,300 net acres, 55,000 of which are located onshore.

[jamesiebabie] 03/11/2014 07:11

It's signed then, for Ortoire.



3 companies get OK to drill for oil on land

By Leah Sorias

Story Created: Oct 31, 2014 at 8:53 PM ECT


Energy Minister Kevin Ramnarine is confident that the signing of licences by three energy companies to drill for oil on land will result in the country’s oil and gas production being further boosted.

The three companies—Lease Operators Ltd, Primera Oil and Gas Ltd (a subsidiary of Canada-based Touchstone Exploration Inc) and Range Resources Ltd—were successful in their bids for onshore blocks in Rio Claro, Ortoire and St Mary’s respectively.

The companies were awarded the blocks following Government’s 2013 onshore bid round.

Speaking at the signing ceremony at his International Waterfront Centre office in Port of Spain yesterday, Ramnarine said the reserve potential of the three blocks is 822 million barrels of oil.

He noted that in the event of commercial discovery, development-related investments could be as much as US$945 million.

Ramnarine stressed there was still potential left for oil exploration on land and as such Government was considering another bid round in early 2015.

“Already, we have seen signs of a turnaround in oil production from both land and marine acreage.

The story of land-based oil production in Trinidad and Tobago is very, very far from over. A significant part of the acreage that was licensed here this morning has not been covered by 3D seismic,” he said.

He said over the licence period, a total of 12 exploration wells will be drilled by the companies.

The companies have also committed to acquiring 2D and 3D seismic as well as conducting five geological studies each.

“In total we licensed 63,716 hectares of land. This is approximately 12.5 per cent of the total land mass of Trinidad and Tobago. So that’s almost one-eighth of the total land mass of Trinidad and Tobago which has been licensed for exploration of oil and natural gas,” he said.

“Many of these blocks lie in the middle of what we call oil country and are on trend with existing and producing oil fields so therefore there is very good potential.”

Petrotrin holds a 20 per cent participating interest in the newly licensed area.

The company’s chairman Lindsay Gillette noted that Petrotrin already shared commercial arrangements with the three energy companies.

“Following today’s signing of the licences, Petrotrin and the successful bidder in each block will collectively be the licensees in the respective blocks, with the successful bidders being operator of the respective block.”