Touchstone Exploration Share Discussion Threads

[mount teide] 29/3/2019 11:11

Bang for the buck cost comparison:

The average 90 bopd production performance of the 2018 drilling programme versus
the transformational potential of the "low risk" Ortoire prospects scheduled for drilling from 1st June 2019 in the event of success:

2018 Programme average Drill cost: US$1m / 90 bopd average production

2019 Ortoire Drill Cost(first 2 wells): US$3m / 2,000 bopd/boepd forecast

2019 Ortoire Drill Cost(third well): circa US$5m / 4,000 - 5,000 boepd forecast

[captainfatcat] 29/3/2019 09:51

Roll on June

Back to sleep

[homebrewruss] 29/3/2019 08:02

Canada rise may have partly been due to a Josef Schachter tip

[lauders] 29/3/2019 01:29

Looked like a good interview. Find it strange that some questions were asking things that were already covered by both BOD members though. Anyway, the run-up to the drilling will hopefully see a shift in the direction of the share price. Buying around these levels should (fingers crossed) be rewarding.

[captainfatcat] 28/3/2019 15:12

cheers for the link

[homebrewruss] 28/3/2019 11:44

Here's the link to last night's presentation:

[awise355] 28/3/2019 07:30

Looks like some ordinary big trades were made on 26th March, 400,000 at 12.29p, might be a sell that stopped the rise.

[homebrewruss] 28/3/2019 06:41

Apparently the presentation from yesterday is due online later but in the meantime here's a video from proactive yesterday:

[mount teide] 27/3/2019 22:32

Yes - good to get some numbers and more detail on Ortoire and the 2019 Production development programme.

Ortoire Programme:

First Well - Corosan(GAS) - US$3m all in cost for the 8,500ft drill - potential 2,000 boepd. Preparatory work to begin on site in two weeks for June drill.

Second Well - Ortoire West(OIL) - circa US$3m all in cost - potential 2,000 bopd

Third Well - Ortoire Central(GAS) - cost TBA - potential 4,000 to 5,000 boepd

All are considered relatively "Low Risk" exploration prospects.

2019 Development Programme will commence with 4 wells and if the first two Ortoire drills remain on budget more production wells later in the year - the emphasis on allocation of capital will be to balance continued production development with the step change potential of Ortoire.

Projected cash flow and the Capital raise will definitely fund the first two Ortoire wells and if production continues at the current pace they should be good for the third Ortoire well towards the end of the year too.

The eleven 2018 wells are currently producing over 1,000 bopd combined.

[...]

[captainfatcat] 27/3/2019 13:53

Brent looking good today

[buffythebuffoon] 27/3/2019 12:29

Whatever?

That was an educated response. It speaks volumes about you.

Buffy

[llef] 27/3/2019 11:48

I see that WTI futures are trading in contango, whereas Brent are trading in backwardisation.

so looking at jun contracts say, the difference is 67.31-59.77 = 7.54
whereas for aug, the difference is 66.59-66.04 = 6.55

hxxps://www.barchart.com/futures/energies

are touchstone likely to hedge any wti futures above 60 dollars?

[buffythebuffoon] 27/3/2019 11:31

rossannan, you seem completely oblivious to the fact you asked why nobody had made a comment on results, when you yourself had said nothing!

What about you showing us the way, instead of expecting others to do the work so you can piggyback off their efforts?

Buffy

[che7win] 27/3/2019 10:27

They will be able to roll over the debt again, I expect they will do that.

[king suarez] 27/3/2019 09:51

Is there a seasonal impact on operating costs?

Last quarter operating expenses per barrel are markedly higher than the yearly average, and the same for 2017 final qtr v full year.

Cashflow looks good, however obvious that TXP have been spending more than the cashflow generated on development, which we should see the rewards of in the next set of financial results (assuming oil price doesn't take another dive!).