Touchstone Exploration Share Discussion Threads

[pro_s2009] 26/2/2021 12:23

HPotter, they are busy with new seismic, road to Royston, planning rig move and spud at Royston, Coho connection.........

The "world class" discoveries of Casc Deep and Chinook are not going anywhere, they are the same whether we get news in 2 weeks or 2 months.

But yes.......one expects a full operations update in the days before 10th March Webinar where they will update on all of the above.....including testing of Casc Deep and Chinook.

Patience is all thats needed.

1000p target December 2022 for me for TXP :)

[homebrewruss] 26/2/2021 11:08

I wonder how far they will have got with testing by the 10th.
Hopefully they started early this month. If we look back at the Cascadura testing, once each well had been completed it took them approx 48 hours to test each interval with then a further 20 ish days for a pressure build up survey.



If they start at Chinook deep and assuming it's successful and they also run a pressure build up survey then it would be:
1. Chinook deep: 2 days testing (then move to Cascadura), pressure build up 20 days
2. Cascadura intermediate: 2 days of testing (then move to Chinook once any pressure test complete in the deep), 20 days pressure build up testing (might have to wait for equipment being freed at Chinook deep?)
3. Chinook: 2 days testing (then move to Cascadura overthrust), 20 days + pressure build up testing
4. Cascadura overthrust (original Cas1 plus including previously undrilled/tested section): 2 days testing, 20 days pressure build up testing

So based on this I think they might have tested Chinook Deep, Cascadura Intermediate and Chinook (main).

They might have also tested the Cascadura Overthrust (original intervals from Cas 1 but with the additional pay discovered) if they were not sharing equipment between the wells for the pressure build test or if any of the other intervals from either well didn't warrant a pressure build test.

Edit: Sorry if this doesn't make much sense, might be better as a diagram but probably not worth it given we'll get the results sooner or later anyway.

[hpotter] 26/2/2021 10:28

I notice that Proactive have an Investor Forum on 4 March with energy companies presenting, NOT including Touchstone. This suggests to me that Touchstone will not be ready by 4 March to present what they plan to present on the 10th March. So, as Pro posted, news around the 8th March seems likely.

[lazarus2010] 26/2/2021 09:57

just added 10k to my total. With all this IG sh!t happening the share price has dropped, not because of any news, any drop in PoO, any drop in PoG, any failed well...expect a substantial return on these in the coming weeks and months and years...

[zeusfurla] 26/2/2021 09:38

To confirm earlier post Shore now looking for 1k less than earlier so seems to be a firm buyer on the bid which should provide support although 3pm deadline for IG may lead to some more trades and volatility today.

[inthemix] 26/2/2021 09:30

Never thought if get to pay 151p again... SB money from IG coming over steadily on shares.

[magicmayhem] 26/2/2021 09:20

I'm not a chartist but 150 does appear to be the bottom if we are to continue upwards. A possible support level?

[spawny100] 26/2/2021 09:17

AK presumably Andrew Knott of Savannah? Suspect a pipeline from Nigeria to Trinidad even a bit beyond his big ambitions though.

[zeusfurla] 26/2/2021 09:15

Shore Capital looking for a larger than normal specific quantity on the bid on L2 - 120883 shares. Some kind of post-IG tidy up and wanting to buy at a low price from us? I'm expecting we are heading for a better week on share price next week as well as a 50%+ chance of news which will likely be very positive. As Paul said a while back timing was the biggest risk this year (and also biggest frustration). Time to switch off the monitors.

[hpotter] 26/2/2021 09:14

As can be seen the piping, valves, etc on the skid are of smaller diameter than the connecting pipework to the wellhead and pipeline. (Looks like 6inch reduced to 3inch) Its standard practice as this reduces cost, footprint etc.
The 2 tanks in the background were not mentioned but I'd assume they are part of the installation, acting as storage for road tanker offtake. I'd be surprised if black is their final colour.

[davidblack] 26/2/2021 09:11

Clearly the IG margin call day is giving us a nice shake.

Wonder how much stock was shorted last week to squeeze the IG players caught in this margin call?

Clearly institutional players were not going to be affected by those IG restrictions and some will have taken a position.

As ever in The City someone’s misery is another person’s opportunity!

As for “We” actual investors it’s just one of those times to “Park up” and wait.

The 10th of March presentation is less than two weeks away.

[fardels bear] 26/2/2021 09:09

He meant he doesn't know what AK refers to.

[buffythebuffoon] 26/2/2021 08:59

I take it fozzie you’re not talking about your wife when she saw the fish you’d caught for supper.

Buffy

[fozzie] 26/2/2021 08:38

David, a line I have heard many times in my life 😜

[spawny100] 26/2/2021 08:37

That's my understanding Pro and company confirmed to me they'd be reimbursed for the cost of getting Coho on stream if I understood their message correctly.

[davidblack] 26/2/2021 08:34

Also somehow I was expecting something bigger?

[buffythebuffoon] 26/2/2021 08:11

How many people are saying to themselves, “yeah, there’s the choke”. :^}

Buffy

[pro_s2009] 26/2/2021 03:57

Nice to see production from Coho now down to single digit weeks away. As the NGC are taking all Ortoire production now, and TXP has paid for the Coho pipeline, is it correct to assume that the NGC will reimburse TXP for the works later. AFAIK TXP and the NGC did not want to hold up the works so rather than delay further while NGC arranged contracts, TXP pushed ahead and so will get all the costs refunded ?

[buffythebuffoon] 26/2/2021 00:47

Hi APAD,

Eh?


DB: “Wonder where that gas is coming from?”

Me: “ Let’s hope AK isn’t...”;

You: “Some of us don't speak the language, so less of the in-crowd comments”

I reckon your line was the more mysterious!

Unless of course you meant that you don’t ‘do’ humour. 😂

Buffy

[davidblack] 25/2/2021 23:10

Or just playing with the little people as we already know Coho is underway.

They are no doubt fully aware that “We” would actually prefer to hear just how the testing is going at Cascadura and Chinook but apparently they are not ready to let that one go, or at least not just yet.

On balance that is a good call as “We” don’t need the IG issue sucking out the momentum from that news. Better to leave it till say Monday the 8th, just ahead of the presentation?

Of course that’s just my humble opinion others will have their own.

[spawny100] 25/2/2021 20:35

Seems Paul is aware investors a little fractious and need some information

[captainfatcat] 25/2/2021 20:28

Good things come to those who wait...

[mount teide] 25/2/2021 19:37

CFC - all relative perhaps ....if someone had said to us in Autumn 2017 they would give us £1.00 each for our shares in Autumn 2022, we would almost certainly have ripped their arm off!

Amazing to think that such an offer has the potential to also look a very good deal for the buyer by Autumn 2022!

Superb management and patience has rewarded many very well here and on the balance of probabilities is likely to continue doing so for many years.

AIMHO/DYOR

[homebrewruss] 25/2/2021 18:24

CFC, they have made another discovery since Chinook though. Not doing too badly :)

[davidblack] 25/2/2021 18:18

IG trading changes have sucked a lot of the liquidity from smaller caps as people sell non leveraged shares to meet margin calls.

Green stocks in particular have been whacked.

So TXP, which also had a lot of people trading on CFD here, hasn’t actually done bad on a percentage basis.

It just feels that way! Personally down 4% on the month now which is nothing, but sadly was up 4% just last week!

Hey Ho it’s a learning experience as ever.