Touchstone Exploration Share Discussion Threads

[zeusfurla] 10/2/2021 12:26

Shore Capital have consistently been looking for stock this week in London and they are pushing the bid up. Do we have a background buyer in London?

[davidblack] 10/2/2021 12:02

The penny is dropping Coho revenues are 2 months away from the bank and that testing will be announced in the next 4 to 6 weeks at most by which time Royston’s drill will be looming.

Apparently the Winter break is over and action is breaking out!

As ever it takes the Stock Market a few days to catch up but it will!

£2 shortly?

[mazarin] 10/2/2021 11:32

Thanks Spangle for your technical explanations. It always good to learn something new

[lazarus2010] 10/2/2021 11:27

174.55 to sell 1000 shares.

[lazarus2010] 10/2/2021 11:25

methinkso2

[captainfatcat] 10/2/2021 11:21

£1.76 paid think that might be a new high?

[herschel k] 10/2/2021 11:19

Is it me or are the mm's widening the gap between bid and offer because they want to suppress demand?Seems to be a bigger gap today than most of the last few weeks......

[apad] 10/2/2021 10:40

That pessimism always rules over optimism is written in our genes.
Telling me that bears hide behind that bush gets my immediate attention and acceptance.
Tell me about the safe route to avoid bears and I'm only half listening.

There's just too much optimism around here - and it's caused me to buy a few more today 😊

To be honest it's the craving for excitement!

apad

[davidblack] 10/2/2021 09:23

But likely bigger on a daily basis than Coho based on that 68 feet.

More importantly the drill was stopped due to excessive gas, so whether the technical answer is 15 or 18 or 21 MMCFPD it’s not really helpful to pointing towards what the future production will be when fully drilled.

That gas might go on for another 5 feet, 50 feet or 500 feet, they simply have no idea.

Time to book that big drill would be the only conclusion and find out the real answer in 2022.

[soggy] 10/2/2021 09:09

I'll translate for you thebull8:

"It's complicated...very complicated."

[thebull8] 10/2/2021 08:31

English? Lol. For us non technical persons

[lord gnome] 10/2/2021 08:16

Thanks for the lesson Spangle93. It's good to get a bit of technical background and I have learned so much by reading the posts of knowledgeable investors on these boards. Every day is a school day.

[mynameiskhan] 10/2/2021 08:16

Thanks Spangle for the comprehensive explanation. That really help and to understand... many thanks! Highly appreciate

[soggy] 10/2/2021 08:12

On my screen afvfn is still showing 170/175

[lazarus2010] 10/2/2021 08:10

advfn showing 175/176?looks nice but doesn't look right??

[spangle93] 10/2/2021 08:04

MNIK/HBR

It's not quite as straightforward as you imply. First, the fluid has to overcome the weight of its own hydraulic head to reach surface, so you always have to work in pressure gradients, not absolute pressure. Clearly this will be more when it's an oil, worse if it's oily water, but the gas here has a significant liquid content. 55 API (assuming similar fluid characteristics to Casc) is 0.329 psi/ft, meaning that at 10000ft, ther reservoir pressure would need to overcome 3290 psi just to burp out at surface.

Second, keeping other factors like viscosity constant, flow rate is determined by both pressure differential and permeability, so although one is higher at depth, the other may be lower. That depth which causes the extra overburden and fluid pressure also squashes the rocks more. In general, rocks at 10000ft have a lower porosity, and through a loose relationship, permeability, to those at 5000ft.

It's harder to make this assumption here in this intraplate zone, where rocks have had a colourful history of being shoved hither and thither and all sorts of transverse and thrust faults result from the huge forces twisting the rocks. But as a general rule, permeability decreases with depth.

[pro_s2009] 10/2/2021 07:32

Royston
Steelhead
Kraken
Casca deep deep
Chinook deep

For the big rig ahead one hopes

[mynameiskhan] 10/2/2021 07:30

Comparing to nearly 2,600 psi pressure in coho at 5.5k feet depth, and over 3500 psi pressure in Cascadura at around 6000 feet, I can safely assume that pressure in chinook at deep zone ~10,000 feet will be much much higher, (maybe 4500-5000 psi) and can easily flow over 20-25 MMFCD.

[homebrewruss] 10/2/2021 07:20

Musing last night on Chinook deep which at 68ft net gas pay was slightly more than the 65ft net pay of Coho and Coho flowed at 17.5mmcfd in the initial tests.

Chinook deep should be higher pressure and we ran out of rig so fingers crossed we get something commercial out of Chinook deep (or at least worth exploring at Cascadura deep) - not long to wait.

[che7win] 09/2/2021 19:35

Mazarin,
You’re very welcome, glad you’re still around.

I used to own more here, but been steadily rebuilding position over the past year.
This has to be a 1 billion pound business in the next few years.
Derisked with steady visability of earnings to an end market looking for all the gas we can supply.
Paul Baay got a cracking deal on the gas supply.

Only average up, do not sell a rising stock.

I’ll be disappointed not to see £5 here.

[mazarin] 09/2/2021 17:23

che7win just to say thank you. I just checked (Post 772) and it confirms that on 12/01/18 I bought TXP following your recommendation @ 12.5p and have held it ever since. The last time I remember you was when you took profit at 25 a while back. It's been up and down many times since then. So I'm glad to see you're still holding and enjoying the ride.

[eggchaser] 09/2/2021 17:19

Hersh now you I do remember!!! Spangle too!!Thank you to all that have given some views and support - much appreciated!!I will post when I throw something onto the ring so to speak so again my thanks for taking the time out to get back to me!!

[homebrewruss] 09/2/2021 16:44

Eggchaser there are various nuggets in different presentations throughout the last couple of years but the December one has some good info in.


It summarizes recent discoveries and has a 3D geological model on Slide 14 for Cascadura and Chinook which is not now 100% up to date but the white lines show the wells at Chinook on the right (with Chinook 'deep' being at the bottom) and the original well at Cascadura on the left.
They have now drilled deeper at Cascadura 'deep' (the white line doesn't extend that far on slide 14) and found a further gas bearing 'Intermediate' zone but didn't get down to the Deep target which from the diagram you can see (and the company are hoping) may join up with Chinook deep which they are currently testing.
Both Chinook and Cascadura Deep are now being tested with results probably due later this month or early next.

Slide 16 also gives you an idea of the Ortoire block prospectivity and some of the targets they have found and are still to drill.

[awise355] 09/2/2021 16:34

They are really pushing Royston!