Touchstone Exploration Share Discussion Threads

[leoneobull] 14/10/2020 20:59

One has to bring it.to production which costs money. Just pointing out that some naive investors disnt even realise txp has debt, albeit manageable.

[homebrewruss] 14/10/2020 20:46

Nice new blog from Hydra Capital summarizing the current situation:
'Touchstone Scores a Hat Trick with a “Significant Natural Gas Discovery” at Chinook-1: Testing to Follow'

[glennborthwick] 14/10/2020 20:31

Leone you seem to be forgetting this is 3 of 3 with one to be imminently joined up to provide a wall of cash plus steady income from producing fields. Not some random find with nothing else going on.

[leoneobull] 14/10/2020 20:15

"Further testing is required to determine the economic viability and potential of the well". Well, quite...gla

[leoneobull] 14/10/2020 20:11

Pro. I didn't want to post any concerns during market hours....

[leoneobull] 14/10/2020 19:53

Well done all who kept the faith. A warning noise is Malcy valued all of SOU's big gas finds very highly too. What was it he said? It's gotta be worth a quid.GLA.

[homebrewruss] 14/10/2020 19:47

The original Cascadura was due to be drilled to 8150ft (a fair bit less than Chinook), as will Cascadura deep presumably although perhaps not directly vertical. Hopefully they can just about get it drilled to TD before the end of the year.

[spawny100] 14/10/2020 19:12

This dual listing sure makes things a bit choppy and unpredictable on news days like this doesn't it? I wonder if Paul has any plans to move to main market in the UK?

[pro_s2009] 14/10/2020 19:00

Canada seems to have got rid of all the short term traders taking profits first thing.....now up to 116p mid price equivalent.

[captainfatcat] 14/10/2020 18:43

Thought the previous sell notification from
Sneller also included notification of a long spread bet position and was more a swap of instrument on just a small portion of his position.

Great to see someone of his calibre building a significant position here. He has a enviable reputation as a shrewd investor.

[inthemix] 14/10/2020 18:12

That's the thought I had David. Certainly adds more flavour to the day in my eyes.

[davidblack] 14/10/2020 18:07

So buying them back at 110p and publicly implying you have gone positive on them from a serious ex fund manager sounds pretty bullish?

A lot of us don’t like acknowledging we sold a winner too early, including myself big time!

Anyway that message Of Mr Sneller will be be spotted, especially given he spent over £300k today.

[dhb368] 14/10/2020 17:49

Not really InTheMix, Sneller sold those shares and more @75p

[spawny100] 14/10/2020 17:32

Lol cfc I've been waking up at 5 or earlier every morning for weeks and not getting back to sleep. Maybe tonight! Big thanks to all the extremely knowledgeable posters here happy to share their wisdom over the last couple of years. Looking like a truly life changing investment here for me!

[inthemix] 14/10/2020 17:28

Spangle, sorry to bend your mind again but...Did I read that they would use the existing drill hole at Chinook to jump on casca deep? If so it would make it quicker? Or have I dreamt that up?

[captainfatcat] 14/10/2020 17:28

Hopefully a restful nights sleep tonight after all the excitement of today's long awaited news.

[spawny100] 14/10/2020 17:16

Anyone looking for a tipple to celebrate with?

[inthemix] 14/10/2020 17:00

Mr Sneller is a wise man increasing his holding.

[pro_s2009] 14/10/2020 16:34

DavidBlack, we may indeed see a "Chinook Deep" well, in the same vein as Cascadura Deep.

But yes, that will need a 2nd and bigger rig........ So I expect Royston to go ahead with the current rig and perhaps the first well of the new 2nd rig will be Chinook Deep.

To test the Cruse at the deep level, and of course appraise the shallower levels and be a 2nd producer at Chinook, just like Cascadura Deep will be the 2nd producer at Cascadura after its drilled.

[spangle93] 14/10/2020 16:31

Star Phoenix (ex RRL) has been trying to flog their Trinidad rigs. I know we've used them before but I don't think any has the capability do those wells.

A top drive is certainly a positive addition in this current well vs what was available for Casc.


Sorry, been in calls, training, running, tennis etc, today, so I haven't yet found space to reply to the really good questions but will do so later

[pro_s2009] 14/10/2020 16:28

Malcys summary comment on TXP today....



.........I remain adamant that TXP remains a must have stock, my time spent with Paul Baay looking at the Ortoire maps some time ago, including the wells drilled a long time back led me to believe the story and the drill bit has done the rest. My last chat with Paul was also realistic, he knows that it can’t be win well after win well but we already know that there is enough in the area to make proper money for shareholders...........

[davidblack] 14/10/2020 16:25

HK my guess is they may, if they have the gas deal in place, drill a second deeper well at Chinook for extra production before they drill Royston which will speed up that “Wall of Money” strategy.

A nice newish secondhand drill from the US bought of a bankrupt shale driller might be on the menu for Q1 2021? That should be ease to lease, rent or buy given the Permian.

The logic of a second Chinook producer would be to optimise the gas pipes they have to lay. A ten inch pipe decision doubles the throughput against a seven in one.

[mount teide] 14/10/2020 16:24

Thanks Pro

Chinook "Another significant discovery for us and the country !" Paul Baay

[buffythebuffoon] 14/10/2020 16:17

HK,

It will depend on the structures they go for. It’s that information which will classify the targets as exploration or development drilling.

I assume we'll be told about some of the (insert your own number here) other prospects on Ortoire in time. I would imagine the accompanying information will enlighten us on the geology.

I can’t recall how much we have covered with 3D seismic.

Has anybody got that information to hand?

Buffy

[pro_s2009] 14/10/2020 16:16

Added both TXP and PANR today (TXP is way way too cheap now, and PANR had a short term trader induced sell off yesterday, making it cheap today).

Just keep on buying both is what I shall do.