Touchstone Exploration Share Discussion Threads

[gopbg] 07/7/2021 15:22

What is becoming very apparent is PB is exceptional at exploration and inexperienced at bringing large operational projections on stream. Evidence..... Missing Coho monetization by years , Missing Royston spud by years (originally he had hoped all four exploration wells in Ortiore were to be drilled in 2019 ) , and now apparently TXP will miss bringing on Chinook monetization by years. PB needs to check his pride and hire someone who knows how to get big wells online. The Pattern is clear ....He says what he hopes will occur rather than what experience/operational wisdom would dictate.

[gopbg] 07/7/2021 15:14

My belief PB has effectively stranded this Coho Gas. TXP's agreement with Shell was either not in writing, or if an agreement was signed, it did not have sufficient terms to protect monetizing Coho timely. It will get worked out likely in 2021 , but sadly when it is in Shells best interest not TXP's

[davidblack] 07/7/2021 14:42

NGMS no it’s 100% lost cashflow, I specifically used the revenue description.

Yes the related profits will turn up at a later date but they will then push back every other years revenue by 12 months.

So 100% cashflow loss sadly.

[dunderheed] 07/7/2021 14:35

20947 - absolutely and as stated may eons ago - explorers often get taken over at the most "strange" times - because they simply are explorers and it takes a totally different "animal" to bring assets onstream on time, safely and on budget - unless you have the proper resources to pull on.

Maybe recent weakness linked to "bad" Chinook results "leaking" out?
Who knows - will a "bad" result get RNS'd or will it be slipped in with a Royston spud? Since Chinook the market is unhappy - had this well lived up to the
"hype", I'm sure the market would not have minded what "appears" to be problematic project delivery?

All imho and DYOR of course.

[gopbg] 07/7/2021 14:14

Don't think it is some kind of conspiracy on NGC account. PB is good at many things but is just not that efficient at operations or hiring someone who can put the puck in the net.

[davidblack] 07/7/2021 14:05

$17,000 a day worse off for a year is the likely bill or $6m missing from their bank account.

[stupmy] 07/7/2021 14:00

It's a good point DB. Might have been something was foreseen. Where does it leave COHO/TXP? Over a barrel? Or is it certainly just an issue of time.

[davidblack] 07/7/2021 13:58

Or a different way of looking at it is that prior to the December 2020 NGC deal TXP had a deal in place to sell the gas to Shell with a 6 weeks hook up time.

Post the NGC deal there is now no deal in place to sell any gas to Shell.

So NGC have effectively “Stranded the Coho gas discovery” in a country crying out for gas apparently.

Was this planned by the NGC or is it simply down to NGC’s and or TXP’s brilliance?

You couldn’t make it up for a comedy act.

Oh and it’s cost $17,000 a day in lost revenue to TXP approximately.

[gopbg] 07/7/2021 13:43

PB said Coho would be on stream Oct of what year? Just saying the discovery was Aug 2019.

[stupmy] 07/7/2021 13:29

Oddly enough I haven't KS. But my exposure here is small. I'm more active elsewhere.

[king suarez] 07/7/2021 13:15

Perhaps, just feels like the company is feeding us one line and feeding the broker other, more realistic, info maybe? Just speculating.

Stupmy - presume you have sold your recent 86p share purchases for a small profit then if you now forecast us back to the disco era?

[davidblack] 07/7/2021 13:14

Brokers often “Check their notes” with the company just to make sure they are not making factual errors so it’s most likely accurate, sadly.

But not unexpected as Coho is over a year late, as was every other drillhole and test undertaken by the company.

[sleveen] 07/7/2021 13:13

Perhaps the broker was being cautious. Allowing plenty of time for negotiations?

[king suarez] 07/7/2021 13:09

So now we have PB saying 75% chance of hooking up Cascadura by end 2021, the government saying expected end 2021, and our broker saying likely Q2 2022 - do we assume Q2 2022 to be the most likely scenario?

[davidblack] 07/7/2021 12:43

News should be coming shortly as the weather in T&T is significantly better plus the Covid restrictions are coming too an end.

Just don’t like how news like 6 month delays on Cascadura are sneaked out via a broker briefing, again!

That’s clearly against Canadian Sedar disclosure as well as Aim rules.

[stupmy] 07/7/2021 12:40

Without news it looks to me as though we're back off to around 77.5 to 80. We could even test that previous low around 75. Just have to watch and wait. If it were to test and break 75, 57 comes back into play.

[che7win] 07/7/2021 09:31

13.5p EPS for next year

[ngms27] 07/7/2021 08:28

Which year?

[pro_s2009] 07/7/2021 08:20

Finncap July update on TXP.

They expect Coho on production around end of Q3 (so lets say October then) and Cascadura on line in Q2 2022.

PDF file in the link below.



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[pro_s2009] 07/7/2021 08:20

Finncap July update on TXP.

They expect Coho on production around end of Q3 (so lets say October then) and Cascadura on line in Q2 2022.

PDF file in the link below.



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