Touchstone Exploration Share Discussion Threads

[11_percent] 05/3/2021 08:18

Basically....we have not started the testing yet.

[ngms27] 05/3/2021 08:16

Yep but those structural highs aren't at Chinook or Casc, so likely will be new targets

[swanvesta] 05/3/2021 08:16

Indeed, the potential is noted having flowed 2200bbl/d (mostly water at this location of course.) But the pressure will be the same updip.

[pro_s2009] 05/3/2021 08:14

swanvesta.......anyone holding TXP would be quite pleased with todays news to the point of being ecstatic at the potential.

As has been said over the past week, the gas is not going anywhere, if testing is delayed so be it....... and it is and so be it.

However we are now told of significant potential oil upside...... on top of all the yet to be tested gas discoveries.

[thebull8] 05/3/2021 08:13

No this is incorrect. The deep zone at chinook is non-commercial but they have identified a hydrocarbon structure in the lower sub thrust. Info from this drill will allow them to target the best zones for potentially commercial oil from the sub thrust zones (they need a proper name)

[pro_s2009] 05/3/2021 08:13

Not sure what Cascadura has to do with it......there is a fault inbetween anyway, and all they are saying is that "at this Chinook location" that sub thrust pure upside surprise oil is not commercial.....but it might be on structural highs up to 1000 feet higher up than the current location.

That means multiple locations up to 1000 feet higher up.....and if oil floats on water and we have oil/water mix 1000 feet lower down.........looks promising :) :)

[swanvesta] 05/3/2021 08:12

Pro, we could be getting carried away though ;-)

[swanvesta] 05/3/2021 08:08

"I read it as the deep zones at Chinook and Casc are write offs"

ngms27, I did too until they mentioned up-dip. WHy do that if it's a write-off? So I read it as a write off at the current well location.

[bernieman] 05/3/2021 08:08

Some positive news in there, but delays on test results will still hold back the share price On the bright side though, we will get a window to top up next years ISA allowance pre results :)

[pro_s2009] 05/3/2021 08:08

Agreed swanvesta, which is why for me its updip depth wise. Lets not forget this is at 10,000 feet depth, I think they can get to 9000 feet depth within the license area.

What is good is we have Paul doing a Webinar next week with Q&A......so we will have confirmation very soon from the horses mouth.

[spangle93] 05/3/2021 08:06

The reserves, AFAICT, are no different to what we've already been told.

There is no contribution from Chinook and Casc-2. So the main gain is from Cascadura-1, which was already briefed.

[awise355] 05/3/2021 08:03

News could take a few days to digest but I suggest we could be re-rated based on the reserves. Where is MT?

[ngms27] 05/3/2021 08:03

I read it as the deep zones at Chinook and Casc are write offs

[swanvesta] 05/3/2021 08:03

Also, those 2P are valued at £500m WITHOUT Chinook or Casca Deep!

[swanvesta] 05/3/2021 08:01

"structurally up-dip by as much as 1,000 feet"

The 'as much as' makes no sense if they are talking laterally! [Or at least I think the wording would be obtuse. But I could be wrong.]

[awise355] 05/3/2021 07:59

Hopefully we get a proactive interview later today

[spangle93] 05/3/2021 07:59

Pro - it could be read either way

I'm with the 1000ft laterally camp.
If you went 1000 ft updip vertically, you'd be outside the licence


Nonetheless, had they stopped short and not intersected the fracture at the base, according to the stated interpretation, they'd have added 60ft of oil at this location in the sub thrust, and we'd all be jumping up and down and clapping

[awise355] 05/3/2021 07:59

Is that our 1 to one of theirs or 1 to 60?I took it as 1 to 1

[herschel k] 05/3/2021 07:58

I think pro's point is that if they are moving it 1000ft updip they expect to be able to hit oil at that depth.And given they've already hit oil 1000ft further down, along with the water......Probably too simplistic an approach but I can see why he said it lol

[che7win] 05/3/2021 07:58

The oil discovery compared to Barrackpore oil pool with 60 wells

[pro_s2009] 05/3/2021 07:53

poombear........definitely 1000 feet up dip structurally.

Anyone for 1000 feet of oil pay :)



..........Based on 3D seismic data, future development locations are anticipated to be positioned structurally up-dip by as much as 1,000 feet from the Chinook-1 well to evaluate the sub-thrust sheet in an optimal structural position.............

[thebull8] 05/3/2021 07:53

About the jist of it

[poombear] 05/3/2021 07:50

Certainly will be happy if that's the case.

[ngms27] 05/3/2021 07:48

Am I reading it wrong as to my eyes the unexpected deep zone is a write off at this location, the secondary target is on test with oil and the primary is yet to be tested along with a shallower unknown 20m zone

[pro_s2009] 05/3/2021 07:48

1000 feet updip......for me says updip in terms of the formation depth.


And in there as well is the first reference to drilling down to 10,000 feet or more in the South West license area..........thats another confirmation I was looking for, that we are going to try to prove the concept that its there down deep in the South West as well.