Touchstone Exploration Share Discussion Threads

[spawny100] 15/10/2020 21:17

Just listened again - very clear 'couple of billion dollar' deal not multi billion dollar.Someone's confident in Canada - 331k trade!

[thommie] 15/10/2020 20:39

Lazarus and of u listen again you might hear that Paul said "the deal needs to be approved by both BODs and then we are going to do a press release to give everybody an idea of pricing... multi billion dollar deal""chinook had double the feet pay they were expecting originally"

[lazarus2010] 15/10/2020 19:26

So contract probably worth a 'couple of billion dollars' so what's the value of that to a potential buyer?

Current market cap nearly £200mln or $260mln. If a buyer paid 50% of the likely contract value that would be 4 xs current share price = say 440p

Is PB excluding Casc Deep and Royston as not yet drilled? Or maybe including Cascadura but can't yet include Royston, so add in potential for Royston assuming it's similar to Casc or Chinook, could be another $500mln which at 50% could be another 100pps gives an initial conservative target of 550pps?

[simplemilltownboy] 15/10/2020 19:02

Thanks CFC and pro, appears to be massive on any account. Gas pressures will be of great interest, I suspect from the language used that they were high as they mentioned how successful the improvements performed and that they will use the same equipment for Cas deep. I'm reading in between the lines, but IMHO they have hit some high pressure zones on Chinook.

[captainfatcat] 15/10/2020 18:18

Smtb I find it curious no mention of gas pressures encountered at Chinook. Hopefully there might be some questions on this at the webinar next week.

[pro_s2009] 15/10/2020 18:17

SMTB, we believe its 4 times the original estimate for Casca......but only 1.5 times the size of the new estimated size of Casca.

Still a monster......... :)

628 acres in size........ 600 ft........

[simplemilltownboy] 15/10/2020 18:09

Pay zone approx 600 ft which far exceeded expectations. Given the broad structure is 4 times Cas and the thickness in pay zone is double expectations this could be a monster. Also if there is a commercial pay zone below 10k ft this will be under huge pressure so maybe very significant. 2 billion dollar contract. WOW look forward to the testing most likely in Feb. GLA

[pro_s2009] 15/10/2020 18:00

This was Xavier Moonans (TXP Geo) comment on Chinook-1 news by the way for those who have not seen it:


Chinook-1 gas discovery

"Despite being spud a mere 1.5 kilometres south of Cascadura, the Chinook anticline is separate from, and distinctly different than the Cascadura anticline to the north. The structural mapping on the Herrera interval reveals that Cascadura and Chinook are two anticlines converging toward each other, with Cascadura being a tighter but heavily stacked fold, thereby making it a taller structure, while Chinook is interpreted to be a simpler, broader fold."

When two anticlines verge toward each other, the footwall or Subthrust sheet establishes a triangle zone. In the case of Cascadura and Chinook the triangle zone focussed syn-kinematic deposition of Mid Miocene Karamat turbidites capped by thick Karamat and Lengua sealing shales.

The Subthrust is one of the exploration targets in Cascadura Deep

[pro_s2009] 15/10/2020 17:54

Casca Deep results before Christmas.......says Paul.

[spawny100] 15/10/2020 17:52

'couple of billion dollars'! That's doubled since Paul's last interview pre Chinook so would imply that he thinks Chinook is pretty comparable to Cascadura no?

[pro_s2009] 15/10/2020 17:51

Thanks Zho

[zho] 15/10/2020 17:42

There's a brief interview with Paul B at

Discussions on the natgas contract are progressing well and this will probably be worth a couple of billion dollars".

[davidblack] 15/10/2020 17:32

All that mega QE has to go somewhere and commercial property isn't going to be fashionable for years to come. So Stockmarkets are certainly one candidates for the cash but there are some negatives which will reduce the cash multiplier effect, secondly the cash velocity will have dropped a fair bit to put the breaks on spending and lastly savings are going to rocket or possibly credit cards are going to be paid down!

But gas is going to be in short supply with the Permian collapse killing the US gas export business in particular which will increase gas prices globally.

Not a bad time to find a huge gas asset or two.

Lets see if PB can hold the bidders back for 18 months? The easiest way is to go crazy with the drill and never allow yourself to be anything other than a moving target.

[pro_s2009] 15/10/2020 17:05

DB, too many people got burnt by Covid in March, so they are all hanging back cash........but there will not be a serious 2nd wave (all across the world death rates are falling fast.......yes cases rising but zero excess deaths now).

So once we get past the 2nd wave talk and into vaccine and full recovery there is a wall of cash to come piling into the market.

Obviously there can be no vaccine talk until the US election is over.....then whoever wins all the vaccines will be coming out and the 2nd wave will be all over bar the shouting and off we go.

[davidblack] 15/10/2020 16:54

Touchstones assets appear to have near doubled on yesterdays announcement, so given this was "Cheap" before its a Christmas Sale in Mid October at the current price.

Also guessing if the Cascadura Deep is being spudded at the end of the month then around the 25th of December could be "A Very Gassy Christmas" in Trinidad or maybe New Years Day?

The Market seems to have not worked out 2021 is just 11 weeks away.

[spawny100] 15/10/2020 16:40

Suspect will be a rocky couple of weeks til Trump gets back in then everything will take off again!

[pro_s2009] 15/10/2020 16:34

Oil and gas prices getting stronger.......Once the 2nd wave talk is done in around 4 weeks, then we move to vaccine and the full on recovery (there is no 3rd wave).



.

[ngms27] 15/10/2020 16:29

Nice if true (1 TCF that is)

[inthemix] 15/10/2020 16:29

Enhanced our financial flexibility and reduced our overall cost of borrowing by refinancing our long-term debt, withdrawing $15 million of the available $20 million balance of our new term loan to repay our former $20 million Canadian dollar ("C$") term loan. At this time we still has nearly $7m cash.Taken from rns, I dont think we need a placing. ":^)

[captainfatcat] 15/10/2020 16:26

You don't have to look far to see company's like BHP spending something like $100M a well offshore Trinidad. Around a billion so far to find about 6TCF offshore were associated development costs will be exorbitant both in cost and time before revenue is started.

In comparison Cascadura + Chinook, Royston maybe 1 TCF +. With onshore drilling and development a ready made route to market pipelines on the block only a few k away development will be peanuts in comparison.

[dunderheed] 15/10/2020 16:06

Steve agree (true) value should hopefully out within a year I'd say, all imho.

[78steve] 15/10/2020 16:03

I feel reward of taking the risk should've been more than 20% but i'm sure others like yourself disagree. Value will out longer term though i've even bought more today

[dr pinkstone] 15/10/2020 15:58

78steve---you think the gain is fixed at 20% then? Think you are wrong

[pro_s2009] 15/10/2020 15:55

Depends where your goalposts are.......mine are firmly year end 2021. None of my stock is being sold before then, and I will keep buying more.

Ride your winners, cut your losers.

Sadly most PI's feel bad about buying into a rising price, and feel good about buying a continually falling price...........strange, but thats why so many lose money.

[dunderheed] 15/10/2020 15:55

Well you dont know how much we'd have lost Steve?
What if you'd only lost 20% would that have been worth the risk or is that not related?
I'm a bit confused about your message, when you havnae a clue what would have been lost or are you saying the 20% uplift is not worth it regardless of potential dry hole "losses"?