Touchstone Exploration Share Discussion Threads

[davidblack] 24/10/2020 09:46

If Cascadura is an elephant and Chinook even bigger then just what is the envelope size for Cascadura Deep or Chinook Deep now, let alone should they both connect at depths?

Apparently the envelope size of Royston is circa 1 TCF, at this point, with historic sniffs of gas from a prior well.

Although as to whether there is any commercial gas at Royston is of course the big question, followed by how much of that possible estimated size might be actual be there, if any.

So it’s a long way to go before any victories or even defeats can be declared but unlike most “Horses” TXP is actually in the running at a “Group One” race! That’s rare for such a small company.

This all bodes to raised blood pressure at regular intervals over the next 12 months as we see if any of these maybes make the grade. Best to take lots of exercise and lose weight if required as your blood pressure may become very elevated if “PB and the Gang” repeat their success to date.

Particular thanks for this “Journey”; should go to Xavier Moonan on whose academic studies much of this putting together this previously unloveable puzzle rests.

[pro_s2009] 24/10/2020 08:55

They are indeed.......you could see Paul was excited, trying to hide it, but he was........one gets the feeling that although being talked down as high risk exploration, if Cascadura Deep comes in........it might dwarf Cascadura and Chinook.

[davidblack] 23/10/2020 20:25

Pro very nice images.

[dunderheed] 23/10/2020 18:30

Ah and I assume TXP has helped with that!!
Best of luck.

[dunderheed] 23/10/2020 18:15

Is that "early" retirement Glenn?

[glennborthwick] 23/10/2020 17:50

Impressive presentation and paul baay comes across well. I sold 25% when it three bagged for me so full carry for me through to my retirement in 2024. Lets see what theya re worth then.

[pro_s2009] 23/10/2020 17:48

homebrewruss - some pics





.

[davidblack] 23/10/2020 17:13

Apparently this is the important aspect that makes Royston such a huge target:

“A large buried fold, undisturbed since the Mid Miocene and with a potential of 700 feet of gas bearing Mid Miocene Herrera sandstones.”

Based on comments XM made elsewhere with the emphasis on the undisturbed as that is where a number of major finds have been discovered running from Venezuela down to Guyana in recent years.

But best left to the oil geologists to ponder.

[homebrewruss] 23/10/2020 16:22

In case people haven't noticed it I thought it worth pointing out that the white lines on page 11 of the latest presentation indicate the latest drills :

Chinook drill - right hand white line, bottom tip part is the new lowest subthrust sheet they encountered

Cascadura drill - left hand white line, if you follow the darker line down (from the tip of the white line) you can see it pass through the intermediate sheet and then into the subthrust sheet (which may be connected to the bottom of Chinook) both of which they are targetting in Cascadura deep.

[davidblack] 23/10/2020 16:06

Easy when they come from Vancouver!

Those from Calgary are fine!

[evilblues] 23/10/2020 15:20

How can you NOT trust a Canadian in a tie and glasses?!? no brainier.

[captainfatcat] 23/10/2020 15:15

I missed this comment from Paul right at the start of the presentation

Experienced team from board level right down through to manigment that have worked with companies who have experienced the EXPLOSIVE GROWTH we are going to see from Touchstone over the next four to five years.

[sos100] 23/10/2020 14:26

Latest presentation

[davidblack] 23/10/2020 14:17

For those capable of grasping what this all means as one of the lesser people I would be grateful for your thoughts.

Summary of the acreage

Ortoire Block Exploration Prospectivity


🔸️Within, and buried beneath the Ortoire syncline Touchstone Exploration has identified 24 independent prospective structures, most of which are SW-NE trending Mid Miocene anticlines dissected by NW-SE trending extensional faults

🔸️3 of these structures have since been drilled– the COHO Anticline, the Cascadura Anticline which follows the trend of the prolific Penal Barrackpore field, and the Chinook Anticline immediately to the south

🔸️ Our portfolio of stacked structures are refined and migrated to drill ready status as we learn more with each drill. We are surrounded by prolific oil and gas fields which serve as great analogues for our Mid Miocene turbidite and Late Miocene - Pliocene deltaic plays. And as such, additional structures will likely be illuminated in due course as we calibrate with each drill

🔸️ We will now test deeper thrust sheets of Mid Miocene Herrera sands at Cascadura with Cas Deep -1

🔸️ We will then shift focus to the centre of the block where we will drill Royston, a large buried fold, undisturbed since the Mid Miocene and with a potential of 700 feet of gas bearing Mid Miocene Herrera sandstones

Touchstone Exploration Inc.

[dunderheed] 23/10/2020 12:20

So good I said it twice!!

[dunderheed] 23/10/2020 12:20

Absolutely agree NGMs.
There is surprisingly big cng gas canister business in T&T which is valuable asset as well.

[ngms27] 23/10/2020 12:12

The risk is they may generate more behind pipe capacity than NGC can handle and thus may not be able to achieve value for any future discoveries.I think they should keep options open for LNG for any future discoveries.

[mount teide] 23/10/2020 11:44

'Some bigger fishes are getting hungry.'

In this connection, going for a strategic partnership with the NGC is a smart move politically, commercially and socially from a PR perspective - as seeking a nat gas supply deal beyond Coho with Shell, the operator and largest shareholder of the globally important Port Fordtin LNG export terminal, that's currently running at circa 65% of capacity would likely be a more risky move for those shareholders who would like to see TXP survive another 3-5 years, in order to fully explore and commercially exploit the full potential of Ortoire's Turbidite Fairway nat gas discoveries to date and the high impact future exploration prospects.

[onedayrodders] 23/10/2020 11:09

Don't tell me you are also an expert in fishery too ngms;0)

[ngms27] 23/10/2020 11:05

MT I agree entirely apart from the fact I don't see TXP surviving much longer. Some bigger fishes are getting hungry.

[davidblack] 23/10/2020 10:18

Just a thought on Paul Baay time.

He said he hoped to give the market news by Christmas, but are shareholders aware he is probably of Persian extraction?

So what he means is the 6th of January!

Have a good day and yesterday’s presentation was great.

Just joking on the religious comments of course in this “Woke” era.

[mount teide] 23/10/2020 10:16

'However given the complexity I’d still suggest they won’t get this right every time especially further away from Casc and Chinook'

Ortoire's exceptionally low exploration drilling and production development costs relative to the huge size and commercial potential of most of its turbidite prospects, strongly suggests that barely 10-15% of the expected life of field cash flows from just one exploration success like the Cascadura Discovery (some "10-20 times greater in size than we expected" PB) would comfortably fund the exploration drilling of the other 21 turbidite prospects identified on Ortoire to date.

The exploration success cash flow bang for the drilling and production development cost buck is stratospheric with these huge onshore turbidite nat gas prospects and TXP's Ortoire acreage is in the sweet spot of the Turbidite Fairway.

Consequently, exploration success at any one of TXP's other 21 Ortoire turbidite prospects is likely to deliver a further large step change increase in the valuation of the company.

Such is the size of the Ortoire turbidite nat gas prospects, an exploration drilling success rate of 25% over the next 5 years could potentially see the reserves of another 5 Cascadura's getting added to the asset register. Outstanding risk/reward when considering the exploration drilling success rate to date is 100% - with the two tested to date greatly exceeding expectations, and the latter two discoveries considered "world class".

AIMHO/DYOR

[homebrewruss] 23/10/2020 09:25

If anyone wants to watch last night's presentation before it's posted up on the proactive channel it looks like you can access it here and fast forward to the relevant point which is 1:07 for the start of the Touchstone presentation: