Touchstone Exploration Share Discussion Threads

[leoneobull] 30/6/2021 06:58

Pro seems quiet. He was pumping this multiple times daily when it was in the 170s!!

[lazarus2010] 29/6/2021 13:14

interesting how hot Guyana is and now moving down to Suriname.



Here's a link to an article on the capacity of a 12" pipeline, thought it might be of interest...

[davidblack] 29/6/2021 13:13

Digital stutter!

[davidblack] 29/6/2021 13:13

Well if you want some exciting news hot off the press?

It’s was passably dry three days last week.

[11_percent] 29/6/2021 10:22

For clarity......I am not saying Stuart Young is a NOBODY.....far from it....you would think that at your peral.

This guy is a major player/infuencer in this story.....and will be working behind the curtain as these guys do.

What he says at a conferance is just part of the game.......in front of the curtain he talks up T&T and tells everyone how great things are.....everyone nods and plays the game.

He is right up there with the other players in our story.

Stuart Youg - Gov
PB - TXP/company
Shell - the guy who is heading up the Shell Operstion in T&T (whoever he is)
The head scammmer - Scammmmers.

ATB - DYOR - AIMO.

[thebull8] 29/6/2021 10:14

I'm inclined to agree.... Promises from politicians are worth less than a promise from Paul Baay. Doesn't change the investment story overall much just more delays :-(

[11_percent] 29/6/2021 09:20

Ok.....RSI down to 29 (less than 30 = oversold).

However......as I predicted..... we are in a consolidation range.....thight range....for the last 7 days.

[11_percent] 29/6/2021 09:12

Pro why do you think they have changed their PR approach beyond holding back a little on “Big Arm Waving?”

=====

Because they might be in on the scammm as well?????

[davidblack] 29/6/2021 08:36

Pro why do you think they have changed their PR approach beyond holding back a little on “Big Arm Waving?”

[pro_s2009] 29/6/2021 08:09

Young outlines plans to boost T&T’s oil output

ENERGY Minister Stuart Young has sanctioned an action plan for increased oil production developed by Heritage Petroleum Company.

Speaking at the local section of the Society of Petroleum Engineers (SPETT) International Energy Resources virtual conference and exhibition yesterday, Young said the key to increased oil production lies with Heritage Petroleum, which possesses the majority of the country’s oil resources, in onshore and offshore acreages comprising 155,000 hectares.

“The action plan will result in the increase of its oil production from 38,100 barrels per day in 2021 to 48,300 barrels per day by 2026, with the majority of the production coming from the increase in offshore production of approximately 9,300 barrels per day. Land production from Heritage, its lease operators, farm outs and enhanced production service contracts (EPSCs) is projected to marginally increase by 900 barrels per day,” he said.

Young noted that this figure needs to be improved, an initiative he will personally push and monitor as it is his intention to have Heritage accelerate and expand its lease operatorship, farm outs and EPSCs in order to maximise the amount of onshore acreage under oil production.

“In January 2021, Heritage Petroleum Company Ltd was granted a new exploration and production licence in its offshore acreage by the Government. The new exploration and production licence covers just about 97,000 hectares of offshore acreage on the west coast of Trinidad.”

The energy minister said T&T is also looking to the Jubilee Field development which targets the development of 30.4 million barrels of oil of 2C Contingent Resources and 24.5 million barrels of oil of prospective resources.

This, he said, will be developed through a joint-venture arrangement and, following a request for proposals, a preferred joint-venture partner is expected to be selected by fourth quarter 2021.

Young outlined that the impact of the current development activities onshore and in the marine area is the increase in the country’s current oil production of 58,000 barrels per day to in excess of 80,000 barrels per day from 2022 to 2025.

“Beyond 2025, new oil production will be driven by exploration activities being currently undertaken or proposed by Heritage and bid rounds which are scheduled to take place within the next 12 months.”

Covid challenges

The Covid-19 pandemic has had an impact on both oil and gas production, said Young, adding that while oil production has rebounded to the 2019 level, gas production is taking a little longer to regain the momentum that was dampened by plant turnarounds.

“However, reduced demand due to low petrochemical prices and operational issues including infrastructure are being addressed to bring about new natural gas production. The issues that impacted on gas production in 2020 and so far in 2021 have been largely addressed or mitigated. Ammonia and methanol prices which hovered around the US$200 per metric ton in 2020 have rebounded,” said Young.

The energy minister also reiterated, that in the next 12 months, Trinidad and Tobago will have three bids-deep water, onshore and shallow water, which is being offered by the ministry. He noted that the Deep Water Competitive Bid Round is scheduled to be launched in the third quarter of 2021, where possibly as many as 11 deep water blocks will be available for bidding.

Young explained, during recent deep-water exploration, the largest 3D marine seismic survey in the western hemisphere was acquired.

“Recent deep-water exploration has been successful in identifying natural gas resources of approximately 6 trillion cubic feet. We expect that this bid round will continue in the same vein based on estimated un-risked prospective gas resources of 6.6 trillion cubic feet in the open deep-water blocks.”

He indicated that an Onshore Competitive Bid Round will follow the Deep Water Competitive Bid round, as the recent successes onshore by Touchstone and Challenger Energy Group have served to confirm that great potential still exists on shore.

A Shallow Water Competitive Bid Round will follow the onshore competitive bid round, which Young said is targeted for 2022.

“The latest audit of the crude oil reserves and resources undertaken by Netherland, Sewell & Associates, Incorporated and the natural gas reserves and 11 resources audit undertaken by Ryder Scott have established that Trinidad and Tobago possesses substantial oil and gas resources,” Young added.

[thebull8] 29/6/2021 06:29

It's such a small time thing to do. I think they'd probably confirm its spudded as part of a operational update RNS detailing other news too - Coho update, Chinook results etc etc

[lauders] 29/6/2021 01:54

Look forward to seeing if that is reality Pro! If so then we may see some more stability, but the initial news has to be good to get us back on track. If we have any negative news coming soon it will no doubt favour the bears and we will see a lower share price. Do you think they will announce the spudding of Royston? I note UKOG (not a shareholder) released an RNS yesterday about the start of some drilling and the share price reacted well to begin with but closed down on the day. With luck any similar announcement by TXP will be greeted with more optimism!

[pro_s2009] 29/6/2021 01:20

Lauders - you should be seeing now a different PR approach from TXP.

Less forecasting the future and then being late.

They are now more into reporting events after they have happened.

EG SW licenses HAVE been extended.

Soon will be :

Chinook Cruse HAS been tested and this is the result (good or bad).

Royston HAS been spudded.


So its more achievements based now and less "crystal ball gazing" which is better and also makes it much more difficult for the traders as they dont know when any news will drop now.

[rabblrouzr] 29/6/2021 00:57

Nothing serious but.....

Checking in with CanadaBulls, and UKBulls, ..both stated SELL on 19/05, with no change since except that today Canadabull changes to a BUY ( green ) signal while UKbulls no change.....yet !

After 5 or 6 weeks, perhaps the sentiment has swung about-face...here's hoping Mates!

[lauders] 29/6/2021 00:45

A share can have more than one ramper you know

And plenty of derampers thebull8. Not sure why Linton78 isn't another filtered post on most people's lists. 11% and Linton, what a pair!

Looking forward to seeing how Stuart Young's words are reflected in news. Surely will make the shorters a little uncomfortable in their seats!

[che7win] 28/6/2021 22:20

The Canadian chart is looking healthier than UK chart.Definitely looks like chart has bottomed....

[linton78] 28/6/2021 21:34

Prozac is back!

🤣👋

Ballymoss - they have had a better 6 months than TXP!

[ballymoss18] 28/6/2021 20:58

Linton those investment funds you bought will have had a cracking day today. Looks like you have bought near the top, tread carefully.

[pro_s2009] 28/6/2021 20:09

Thanks Adonis....

So the Minister is expecting :

Coho on line before end of September.

Cascadura on line before year end.

Chinook Cruse (testing) on line before year end.


Opening address by Energy Minister Stuart Young at the (SPETT) International Energy Resources Conference and Exhibition 28th June 2021



Main TXP related extract below:

"The COVID-19 pandemic has had an impact on both oil and gas production.
Whereas oil production has rebounded to the 2019 level, gas production is taking a
little longer to regain the momentum that was dampened by plant turnarounds,
reduced demand due to low petrochemical prices and operational issues including
infrastructure work to bring on new production. The issues that impacted on gas
production in 2020 and so far in 2021 have been largely addressed or mitigated."

"Over the next 18 months, new gas production is projected to come onstream from
all of the upstream operators. BHP’s Ruby project is already on stream and
Touchstone’s Coho field is due to come onstream in the third quarter 2021.
Touchstone’s Cascadura and Chinook field are expected to come on line in the
fourth quarter 2021."

[captainfatcat] 28/6/2021 18:52

I was rather hoping for Coho that the next news we would hear would be an out of the blue RNS that production had commenced. Don't mind waiting either.

Good to hear positive comments from the conference thanks.

[linton78] 28/6/2021 18:18

I avoided this dog so the investment skills are not too bad… 🤣

[thebull8] 28/6/2021 17:47

Lol you're detective skills are about as good as your investment skillsNot sure why you think I pro - we don't write the same. Not even close. A share can have more than one ramper you know