Touchstone Exploration Share Discussion Threads

[spawny100] 05/3/2021 07:48

That was my reading too poombear but I'm happy to stand corrected by someone more knowledgeable.

[che7win] 05/3/2021 07:47

It's a positive update, that's for sure.Our reserves now roughly twice the market cap.Another oil strike, just when oil prices are rocketing too.All looking exciting as Paul Baay says.

[poombear] 05/3/2021 07:46

Pro I think it say 1000ft from current location, rather than 1000ft net pay?

[pro_s2009] 05/3/2021 07:46

HK.

The sub thrust looks like oil now. So if we have sub thrust at Chinook, Royston etc.. all oil and Kraken is oil. Plus perhaps Cascadura Deep Deep being oil.

We might be looking in total at (for the Ortoire license)

10 TCF gas
0.5 to 1 billion barrels of oil

Fill yer boots at the early stage while others doubt is my motto.......the early bird catches loads of worms.

[herschel k] 05/3/2021 07:38

I totally agree pro and I'm sure most on here would.But remember, the market is weird at the best of times.Anyway, it doesn't really matter in the grand scheme of things. It looks like the market sees it positively at the moment so all good!I'm going to take a stab at what I think Ortoire holds when they've tested chinook and cas deep.Gonna be fun.

[pro_s2009] 05/3/2021 07:37

And then......we have another upside of oil which is going on to extended production testing............and we have all the pre-drill gas targets still to test. Its all upsides......lots of them.

[78steve] 05/3/2021 07:36

Agree there is some negatives but balanced with some positives too so market has to decide which way it wants it to go. Imo more + than -. Move should be minimal though imo maybe 5% at most. Dyor

[pro_s2009] 05/3/2021 07:35

Would be very stupid to look into the abandoned zone which was not even a target pre-drill, it was found by accident and was only potential upside. The positive is it contains trace oil and they can now drill 1000 feet updip from this location into it.

Imagine 1000 feet of net oil pay over a large area in the sub thrust...how many hundred million barrels ?????

Thats a humongous upside for me and certainly not a downside at all as it was not even a pre-drill target at Chinook.

[mynameiskhan] 05/3/2021 07:35

Pre market is up, so market is taking the positive.

[herschel k] 05/3/2021 07:33

Well. Current pre market suggests I could be wrong. LolHope so!

[herschel k] 05/3/2021 07:33

I agree proThere are signs that they really have unearthed something quite extraordinary for an onshore discovery in T&T.Likely to be comparable, when all is said and done, to some exceptional offshore discoveries of recent years.

[lord gnome] 05/3/2021 07:30

A lot to take in and much of it is beyond my ability to evaluate in a few minutes before market opening. Will the market be in glass half empty mode and focus on the abandoned zone and delayed testing or will it see past this and focus on the undoubted positives.Whatever, any negative reaction is likely to be short term. There is huge potential here and huge value.

[pro_s2009] 05/3/2021 07:28

awise......the sub thrust is massive. Its also going to be poked with the Royston drill (the red dotted line on seismic).

If that sub thrust is oil bearing......I would also be looking forward to Kraken being oil bearing as well - a Guyana type discovery.......

This is the start of a really exciting 24 months - might have to revise my 1000p target for Dec 2022 upwards now...... :)

[herschel k] 05/3/2021 07:27

I tend to agree spawnyI think the delays will be met negatively and outweigh the positives that pro highlights (and that are clearly evident).Would love to be proved wrong but some short term weakness is likely.Story hasn't changed so if I happen to free up some funds it will be an opportunity for me to add more if any weakness is prolonged.

[awise355] 05/3/2021 07:24

Reminds me of Cascadura when mere they had 1,000 net feet of pay but didn't know it was gas. I'd love to see what 1,000 bet feet of oil is like at circa $65 dollars per barrel

[spawny100] 05/3/2021 07:24

We'll see Pro. No I have my desired holding here and no spare cash to add so I'd love to be wrong and for it to go up today!

[pro_s2009] 05/3/2021 07:21

Pretty impossible to take it negatively.

All target zones in Chinook and Casca-Deep still to be tested.

Newly discovered upside zones containing oil.

One zone looks massive, updip 1000 feet ?? Thats a tonne of oil if its good.

One zone now on ext well test.


How can anyone take that negatively - apart from those who sold out and now want to buy back in.

[spawny100] 05/3/2021 07:16

I'm unclear as to whether this will be received positively or not. Suspect dip in Canada yesterday after decent rise here would suggest possibly not? I'd only said yesterday it would be shocking IR if they didn't advise that testing had not even started yet! BUT there is a lot of great stuff in there too regarding reserve numbers. Will be interesting to see what happens at 8am.

[pro_s2009] 05/3/2021 07:12

A lot in there. The uneconomic zone was not an initial target and was only potential upside. And now its big upside as its got oil. Updip could see a very large oil discovery now.

And more oil.

And all the primary targets to test.

And and and and and.......... very pleased with that :)

[awise355] 05/3/2021 07:00

And just as oil is on a bull run

[mynameiskhan] 05/3/2021 06:57

Indeed reserve have been increased substantially. Nearly half a billion NPV, without Casca deep & chinook. And then another potential of Royston

[awise355] 05/3/2021 06:55

Huge numbers no? A lot to take in surely the bulls have it. The only bear case here is the uneconomic zone and huge delays in testing.But they've managed to slip in a oil discovery which initially could flow similar to the uneconomic section of circa 2,200bpd...

[thebull8] 05/3/2021 06:45

https://www.newswire.ca/news-releases/touchstone-announces-2020-year-end-reserves-and-provides-operational-update-878771054.html

[thebull8] 05/3/2021 06:45

And current 2P reserves not including Cascadura Deep or Chinook are worth US$ 683million or £490million (NPV10)

[mynameiskhan] 05/3/2021 06:42

TXP - 2020 year-end Reserve evaluation out.Test has not started yet due to rig unavailability. Rig is expected to arrive in 10 days.Chinook deep zone is light sweet oil, but non commercial at current location(due to high water cut, but pressure was high). They have identified sweet spot based on 3D at up-dip location. Currently, 2nd zone in Chinook is configured for extended production test, which is 35 API of sweet oil.Test for natural gas will start once equipment arrive to the site. The plan is, first to test Casca deep, and then gas test in chinook. While, chinook will be on extended oil production test