Touchstone Exploration Share Discussion Threads

[dr pinkstone] 17/10/2020 17:17

Mount Teide -some time ago I was invested in Trinity and read your posts on Trin and Txp with interest--I exited Trin a couple of years ago at loss.Your posts on Txp led to me keeping an eye on it-the March fall in share price allowed me in big time---the fact I am richer now than then is very much thanks to you--so Thank you Mount Teide

[pro_s2009] 17/10/2020 15:57

BBC finally reporting on the China vaccine I see, as has been said, Russia already vaccinating (this news does not suit Western media agenda currently so its very under reported and classed as "so very risky and untested by "western" standards").

The big "vaccine" talk will be late November when at least 3 "Western" versions seek emergency use approval after completing phase 3 trials (2 USA and 1 UK).........

So in terms of the market, probably only at most 4 more weeks of weakness left. Once the media latches on to vaccines post the USA election - things will get explosive in the markets, the perfect timing for the run in to Casca Deep results and also at any time the NGC gas contract news.

I topped up last week, no hesitation to buy more and more TXP - all will be held for year end 2021........

The coming 2 weeks may represent the last chance to buy in size and cheaply TXP stock, imo.

[c0lin1] 17/10/2020 13:25

Ftse 100 has gone nowhere for 20 years.. Dividends aside

[davidblack] 17/10/2020 13:24

On the 30th of April the FTSE100 was 5920 at close
On the 16th of October the FTSE100 was 5919 at close

In those five and a half months there has been no Index capital growth but it did come with roughly a 2% dividend to keep anyone invested there happy.

Therefore TXP makes me smile more than a bit, hence why I bought a few more.

The weird thing is this stock is now cheaper against assets than it has been at any point in its history. Hence the modest buy yesterday. It’s future prospects being in at zero to boot!

Good luck all, the only downside currently is TXP raises the blood pressure. But that comes with a few smiles along the way.

[lazarus2010] 17/10/2020 11:52

spawny10016 Oct '20 - 20:55 - 12225 of 12233
0 1 0
Dunno David but it's been a disappointing end to the week for TXP here and in Canada.
-----------------------------------------------------------------------------------
spawny is your glass always half empty?

Since pre-covid and pre-Cascadura, we were around 15pps. Cascadura took us to 50p and Covid took us back down to c.22p low but not for long. From the covid low we have 4 bagged (x5 at 118p high).

What has happened since the Covid low? Basically we have tested Cascadura and drilled Chinook. We have not produced anything from Coho, Casc or Chinook and are unlikely to do so until Casc Deep is drilled and tested and then these three wells will be put on production. Coho may start producing soon but at 10mmscfgd it's small beer compared to predicted flow rates from Casc 1 and hopefully similarly Chinook and Casc Deep. So basically we have 4 bagged on drill bit success of 2 wells. We have results from Chinook, Casc Deep and Royston all yet to come. Be patient, I am sure we will get there within the next 12 months (considering how long Coho is taking to be put on production I doubt we will be any quicker with hooking up the next 4!!)

[spangle93] 17/10/2020 10:53

Hi Junky Monkey

Good post 12223

One thing you missed saying is that after openhole logging, which they achieved this time unlike Cascadura, and before suspending the well, they will have run and cemented liner in place, to stop the walls from collapsing. So unperforated, cemented liner will also act as a primary barrier for well integrity.

I'm sure you know this, but just for clarity for all readers, you don't perforate with mud in the hole, you circulate out to completion fluid first, to avoid near wellbore damage.


Also, ref "being so physically close to Cascadura is likely charged from the same source rock, and so I don't believe there is any reason to think that the pressures and contents here will be so different than Cascadura"

I agree it will be the same source, so there will be geochemical similarity. But with syn-depositional structural changes as noted by XM, the two structures will have undergone independent burial history. While you are indeed probably correct about pressures, it is possible for Chinook to be different.

[worraps] 17/10/2020 10:45

That’s good, dr pinkstone, it’s nice not to be alone in the ‘topped up too soon’ club, along with Davidblack. I had sold some other shares at a loss, just so that I could get more TXP, the best share I’ve ever had. So, when you’ve sold others at a loss, it hurts more when the ones you’ve bought go down!

[dr pinkstone] 17/10/2020 10:22

Topped up THursday

[worraps] 16/10/2020 21:39

$1.74 cad = 102p at Canada close. Disappointing after such company changing news this week. So, I hope your optimism is justified, DB, as I too bought quite a top up chunk today!

[davidblack] 16/10/2020 21:04

On Canada a 50c uptick on the news and it gave back one third which sounds pretty standard as the momentum investors exit for their next opportunity.

Drill will be turning at Cascadura in about two weeks and the NGC contract will put some trust into future cash flows plus the Coho first gas sales should mark the start of that “Wall of Cash.”

Personally it feels like we might be a lot higher than here in a couple of weeks which is why I topped up today. If not what’s a few more weeks when the fundamentals are solidly in place?

Henry Hub hit a high today just to put a smile on PB’s day too.

[fatnacker] 16/10/2020 21:04

I sold out on Wednesday spawny, I will be back in at some point but for now!

[spawny100] 16/10/2020 20:55

Dunno David but it's been a disappointing end to the week for TXP here and in Canada. My gut reaction (clearly correct with hindsight) on first read of RNS was to sell based on the fact Chinook would not be tested concurrently with drilling Casca Deep, as I'm sure had been previously stated would happen. Coho and NGC contract both seem to keep getting pushed back too. I'm holding all of mine with a 2 year+ view but I'm getting a little tired of hearing that they're 'just waiting on the permits' for Coho every interview Paul does for last few months.

[davidblack] 16/10/2020 20:43

Just a thought on that NGC announcement ad when it is released.

Its normal that Government or quasi Government organisations lead on press releases or at least set the time of release so politicians gan talk to the press at the start of the media day.

So 8AM in Trinidad over the next few weeks might well turn out to be an expensive time for any shorters.

But who knows? Well PB probably but he is not likely to do more than smile if asked.

[junky monkey] 16/10/2020 18:12

There have been some comments about the lack in info on pressure down in the formation.

The rig left the location, and the well bore is probably still filled with the oil based mud. The well is also going to be capped, but the mud in the hole is a safety barrier for one, and also it needs to be there when they reenter to prep for the testing later. Isolation plugs will have to be set, perforations performed, etc.

So, don't worry about it, we're just gonna have to wait and see what kind of Monster flare we get this time. Hopefully they will bring in some much bigger equipment so we can see a really really big flare.

This trap, being so physically close to Cascadura is likely charged from the same source rock, and so I don't believe there is any reason to think that the pressures and contents here will be so different than Cascadura.

Trading in and out here is taking a high risk for missing the train. NGC contract and Coho hookup are approaching very fast, and I think we can all agree that that news will taken very positively by the market.

DYOR and my opinion and whatever else you guys say all the time.

[dhb368] 16/10/2020 15:07

The less said about North the better.

[captainfatcat] 16/10/2020 15:04

Expecting to see the share price hit £1 then probably continue North again.

Tick tock

[wheniamfree] 16/10/2020 14:39

Very much so Rodders.

[onedayrodders] 16/10/2020 14:35

I guess this selling might be caught out by the multi billion NGC contract due at any time now:0)

[erinho] 16/10/2020 14:22

He might even save the existing cash for Royston, and use the credit facility to drill Deep now because that will be a development well for Casc if they dont find anything deeper. Who knows. I trust PB to do the best thing for TXP.

[erinho] 16/10/2020 14:19

They wont have to delay Casc 2 and 3 and Chinook 2 and 3 (?) because of fund issues. PB has clearly said that he have no problem using the credit facility to drill development wells. So they will speed up the development drilling next year to maximize the flow and cash once Casc and Chinook are connected.