Touchstone Exploration Share Discussion Threads

[spawny100] 22/10/2020 22:17

If the lower sections at Cascadura and Chinook are linked then with a well drilled into each would they need a test rig at both simultaneously to ascertain this connection during pressure tests etc?

[spangle93] 22/10/2020 22:12

Jonny, ref 12437, you are totally correct, it was an oversight and I have amended my post. Thanks


HBR ref 12436, there were two messages. That was one of them, at least, there was certainly speculation, as you yourself referenced in 12440, that the two lowest sheets could be linked (this came just before the "whole country" quote), which if true would increase CoS, but earlier he had definitely said that C Deep was pure exploration and higher risk

[captainfatcat] 22/10/2020 22:03

Thanks very much for all the presentation feedback. Hopefully it will be available online tomorrow for all.

[homebrewruss] 22/10/2020 22:03

Ngms, Xavier also hinted at it in his linked in post where he mentioned the two anticlines verging towards each other

[ngms27] 22/10/2020 21:57

When I looked at the corporate presentation the other day my first thought was Casc Deep and the Lower sands at Chinook one and the same? Seems it was meant to suggest the possibility ;)It's going to be very interesting to find out.

[davidblack] 22/10/2020 21:56

Chunky Monkey and Spangle your brilliant thoughts were reprinted in Canada, genius needs to shine!

[ngms27] 22/10/2020 21:54

Did you mean to say oil?

[homebrewruss] 22/10/2020 21:33

Spangle do you think the discovery of hydrocarbons in the lower sheet at Chinook increases the COS for the lower sheet target of Cascadura deep?

[spangle93] 22/10/2020 21:28

Junky - thanks for typing up your notes. Some things to add

Can't test Chinook at the same time as drilling Casc Deep because of safety considerations - both use the same single access road.

3-4 development wells in Casc, multiple dev wells in Chinook. No plans to return for additional wells at Coho in the near term
Due to tubing limitations, flow of 5,000 boe/d from Casc-1 upper zone

NGC contract sees payment is at the wellhead.

A bigger rig, with 12,000ft capability, is being contracted now for use in Q2 foor Royston.

Cascadura Deep is Exploration, and hence higher risk than wells to date.

However, Chinook was the first "model test" well, and they feel it has derisked the Ortoire fairway, which was described as "different sands at different levels draped ovver the structural highs"

Decision to drill deeper added to the time on Chinook, but they were not expecting hydrocarbons so deep, its the first time it's been experienced. There is a possible connection of the deep Chinook hydrocarbons with Cascadura Deep.

If so it would be good for the local area AND FOR THE WHOLE COUNTRY. No pressure then!

[spangle93] 22/10/2020 21:06

Most amusing LOL moment of the evening.... watching the questions and comments as Paul talked, and seeing

Xavier Moonan "Great Work Paul"

[soggy] 22/10/2020 20:49

Sorry to hear about bobobob5 - did a search here on advfn and it came up with "Found 41,561 results" - that's quite an amount of engagement in posts here!

[stockport loser] 22/10/2020 20:41

He was called Robert Waterhouse, been around the oils since the conception of Aim.

[ngms27] 22/10/2020 20:22

Sad to hear about bonobos. Had many decent chats with him over the years but didn't know his real identity and still don't!

[captainfatcat] 22/10/2020 20:20

Spangle sad to hear about bobobob5 he was quiet a character and certainly a influence in my investing in EEN etc etc.

Was this news in the presentation?

Will raise a parting glass in his memory tonight while listening to the Crazy World of Arthur Brown

[pro_s2009] 22/10/2020 20:08

NGC deal seems to be late November news.......with Casca Deep results before Christmas.

All goes well (and it most likely will not) but if it does.......might be looking at 150p to 175p levels for 2020 year end with a Casca Deep success.

[zeusfurla] 22/10/2020 20:05

Paul mentioned a bigger pipe will be needed following Chinook. Was he saying they are sure it is a gas discovery?

I think the Coho approval and NGC contract will come out shortly after Casca Deep makes the early Nov drill deadline. Casca Deep spud is a notifiable event in my view - looking for an RNS. I expect a flurry of news in the next 2-3 weeks even before the Casca Deep result - I don't care if that turns out to be January given Chinook delay.

A great time to hold and I am more confident now of the next 5 years/20 prospects than before.

[pro_s2009] 22/10/2020 19:56

Very coy on finances - I guess he will wait to see what the Cascadura Deep result is to decide whether to fast track (equity raise) or plod along (debt funding of development and Royston well into Q2)

Given how things went it seems Royston is planned for Q2 currently and no equity raise. Royston is also the only exploration drill left. In the event Casca Deep comes in we may see an equity raise and Royston fast tracked into Q1 along with more development drilling at Casca/Chinook Q1.

NGC will pay for all the pipe/connections for Coho and Cascadura/Chinook - so there is zero cost to TXP there.

Casca Deep seems to be the key event..........if its a monster and connected with Chinook then everything goes fast track imo with an equity raise....... and if its not then slow and steady and debt funding.

[dr pinkstone] 22/10/2020 19:53

Very impressed with a lot to look forward to.

[zeusfurla] 22/10/2020 19:53

Equity raise looking likely but at the current share price may only be 5% of company value so not going to make a dent in the share price

The most significant comment for me was Paul saying that Chinook was the 1st real test of the model and the 'tops came in exactly where we expected' - a highly significant statement for future exploration potential and competence of their geos. Patience will be required but rewards will be significant for long term holders. Steady approach from Paul gives a lot of confidence in the sequencing of company activity in late 2020 and 2021.

[simplemilltownboy] 22/10/2020 19:51

He talked about a third rig, if that happens I reckon there will be an equity raise. Interesting comment about the current value of the company, cas is worth double the value on its own, however he did qualify that this is still in the ground. Exciting times especially if cas and chinook are connected

[spawny100] 22/10/2020 19:50

He comes across as extremely trustworthy, honest and straight talking. I like that in a CEO. It's from seeing him in earlier presentations that I effectively decided to bet the house on him.

[davidblack] 22/10/2020 19:49

The combined Cascadura Chinook area is going to be chockablock with rigs in the next 15 months and looks like it’s going to be a significant national asset for Trinidad.

And what happens if Royston comes in strongly too?

[henley2] 22/10/2020 19:49

Seems to be giving a strong hint of a capital raise.
Given the delay in bringing Coho into production, how long will it take to bring a combined Cascadura/Chinook pipeline on stream?