Touchstone Exploration Share Discussion Threads

[captainfatcat] 27/5/2021 15:25

Need to clear out the pesky seller who's offloading into any strength. Seem a good appetite at current price so hopefully they will be finished soon enough. I would guess selling desicion unrelated to outlook here. Maybe North again.

Tick tock

[fozzie] 27/5/2021 15:08

Was it only a few months ago that Touchstone was the shining light in my portfolio, where did it all go wrong? Rhetorical question. Can't quite believe we have almost halved in value in a few short months.

[davidblack] 27/5/2021 14:47

460k traded today which is very high against previous days. Curious.

Also Canadian trading is all over the place and currently flat at $1.62

[gopbg] 27/5/2021 14:09

One of PB’s best interviews to date ..Found it interesting that the hook up of CoHo was void of any acknowledgment of shell ....My guess is things are a bit chilly with Shell at the moment...
I wonder who gives the approval to hook into the NGC system. After hookup 60 days to $500,000 / month cash flow .

[buffythebuffoon] 27/5/2021 13:59

Let’s not count too many chickens!

Buffy

[davidblack] 27/5/2021 12:42

Or maybe a second pipe? If things go well.

[thebull8] 27/5/2021 12:29

PB stated in Tuesdays webinar that they were looking at three additional pads with two to four wells on each pad. If we add the two existing wells that is eight to fourteen wells. The development plan for Cascadura is for ability to supply 200 mmcf so I would think if they have fourteen wells they would switch between them rather than have all of them running at one time. I'm sure those with engineering background could explain the reasons behind this but suspect it's to service them/make sure they run efficiently

[pro_s2009] 27/5/2021 11:41

Dont complain, fill yer boots. I never thought I would be having the chance to buy more below 100p, so I am filling my boots and will continue to do so - just keep the focus on Q4 2022 and ignore all the fluff in the meantime.

[thebull8] 27/5/2021 11:24

Yes PB said he has previous experience of taking O&G companies from 600bopd to 25000bopd but usually involved drilling hundreds of wells. He said with TXP he can realistically achieve that with 5 wells. Staggering that people happy to sell because it might take a bit longer than previously forecasted. Challenger energy forecast five years to get to 4000 bopd.

[holdandhope] 27/5/2021 11:15

Goes to show what TXP have on their hands at Cascadura in comparison where each development well could realistically be producing the same volume that CERP/BPC are expecting to get from 30 wells! As I think Paul said the other night in the presentation something like we're expecting to get to 20k boepd production with only 5 wells. I'm impatient to see the development plan for Casc and how quickly TXP plan to drill the additional development wells. At say a conservative average 30 mmscf per day per well that's c.$1.5m FCF per month per well (based on TXP saying Coho would generate $500k per month based on 10mmscf per day) plus income from the liquids. How many wells do we think TXP will drill at Casc next year? 2,3,4? Bear in mind Paul also said on the presentation that with larger casing Casc-1 could have been producing up to 10k boepd!!

[thebull8] 27/5/2021 10:57

Challenger Energy (previous CERP/BPC) had some moderate, recent success before the merger within the lower cruse formation to the south west of our licences. They are currently undertaking a drill program at their saffron location with the aim of ultimately obtaining 4000k bopd from 30 wells.

[homebrewruss] 27/5/2021 10:04

See Domus's post 19861

'Txp will get the approval this week to test the Cruse formation at Chinook.
The testrig will move in next week.
Testresults ready around week 23/24.

The Cruse formation delivers oil and gas elsewhere in Trinidad and is also the producing formation at most of the preeent producing Txp wells.
It could be a trigger. The question is how well the formation delivers gas in the chinook area.'

[dunderheed] 27/5/2021 09:55

I thought they were going ahead with "testing" asap? Been busy elsewhere so have only scan read stuff and not watched any video hasten to add.

[ngms27] 27/5/2021 09:47

It could be being completed for testing.

[dunderheed] 27/5/2021 09:43

I saw that but wouldn't attribute too much emphasis on that terminology DB but yes they could have stated "abandoned or completed".
I wouldn't complain too much if their definition of completing was to include both scenarios but normally I'd like to see something like abandoned or completed results dependent.

[davidblack] 27/5/2021 09:36

Reread the Operational Update RNS and sported that they said they planned “Completion” on the Cruze at Chinook. Went off and checked the technical definition:



“Once a well has been drilled, the decision must be made: Will this well become a producer or be plugged and abandoned as a dry hole? Should the operator decide to move forward with developing the well, completion operations must be undertaken.

Well completion incorporates the steps taken to transform a drilled well into a producing one. These steps include casing, cementing, perforating, gravel packing and installing a production tree.”

Can’t imagine TXP spending money on this unless they expected to bring this on production?

So is there a mini Coho about to turn up unexpectedly? And if so might there be any more to be had cheaply?

[thebull8] 27/5/2021 08:22

Linton would short here but he lost all his money on BPC haha

[onedayrodders] 27/5/2021 08:13

Sell up and move on then stumpyAt least we won't have to know what u had for breakfast every day

[linton78] 27/5/2021 07:54

Pro is a desperate ramper.

[stupmy] 27/5/2021 07:32

That wasn't much of a purchase Pro. It provided me no cheer at all and I wondered why on earth he bothered. Hardly a show of confidence. Why not buy a substantial number on the open market? If the story is good, the risk is low and the reward is good? I actually viewed that with disapointment.

[spawny100] 27/5/2021 07:22

19870 re 'the only way is up'. Many here were saying that at £1.70+ too!

[pro_s2009] 27/5/2021 07:09

Director share purchase. Well done Stan.



.

[thebull8] 26/5/2021 23:02

...limit buys upped to 82p

[rabblrouzr] 26/5/2021 22:22

Waiting patiently for 81 p ( $1.37 ) .. No rush :> ), but before Friday would be great as our resident enthusiast Eric Nuttal, will be on The business channel on Friday.... so drop her hard tomorrow U.K., ......and much appreciated !