Touchstone Exploration Share Discussion Threads

[dunderheed] 10/7/2021 09:54

11 percent. Can you remind me, you're 70 after burning out "in the city" whilst in your forties?

[che7win] 10/7/2021 09:38

Right, onto the next fairy story....

[11_percent] 10/7/2021 09:28

Whats happened is a small Pump & Dump........a small scam within the larger short scam.

Straight from the off on Friday 2nd July they started the Pump.....and contonued into Monday.

The reason for this P&D is twofold.....limit the rise in the event a success in the Cruse......and make a few quid.
The primary scamm is the short...and getting the share price down.

It looked like the Chinook Cruse result would come in last week.....and the rise had to be blunted.
The way to do this was to Pump the share price before the result....and sell into any good news.
The Cruse news was delayed and the share price has tailed off....and we are we are.

I agree with Stumy on the triangle fomation.....and the share price will break, up or down.
However...up or down will dependant on Crues testing result.

If it is bad, they will sell into it making the fall greater.
If its good, they will sell into the rise, to cap it....exactly as they did on the Casa testing RNS on 12th April.......remeber, the goal here is getting the share price down for the short.

The Cruse testing at Chinook was looking to be good.....and the spike on Friday afternoon is a good indication.

[thebull8] 10/7/2021 08:13

Nice post - if they can average 100bopd from each well you would be looking at 8000bopd - more than four times our current production. PB has a lot of previous experience increasing oil production in this way. Netback would be around $25 on today's oil prices so worth $200k per day or $73million a year gross. Don't underestimate the oil drilling program - especially at today's oil prices.

[lauders] 10/7/2021 02:24

Just as a reminder this is some of the text from the link below about the potential of JUST the planned work on the heritage wells operated by TXP. Oritoire is just the icing and cherry on the cake!

LOA Operations

Crude oil volumes from the properties governed by the LOAs currently comprise approximately 87 percent of our 2021 crude oil sales through May 31, 2021. With the execution of the new ten-year arrangements, the Company will move forward with a number of planned projects on the Blocks. The Blocks have significant oil in place across multiple stacked sand reservoirs and offer tremendous potential for recovery factor improvements through both primary and secondary recovery development. In aggregate, we have identified 80 drilling opportunities on the Blocks and will prioritize the projects based on economic parameters and liquidity. Initially the Company expects to drill four development wells prior to the end of 2021 and will review the timing of future drilling on a regular basis.

At Forest Reserve WD-8, we have identified three high-grade drilling locations on the north-west section of the property which are targeting the Lower Cruse Formation. The Lower Cruse Formation has yielded exceptional production in previous drilling campaigns, particularly following our successful 2018 drilling program. These locations are focused on targets offsetting the FR-1801 well, which to date has produced over 88,000 barrels of oil since its completion in January 2019 and is currently producing approximately 37 barrels per day ("bbls/d"). Along with this planned drilling program, the Company has applied for a pilot waterflood program using the FR-1715 well which is anticipated to further enhance production potential from the WD-8 Block.

At Grande Ravine WD-4, Touchstone has identified five initial high-grade drilling locations, two of which target the Lower Cruse Formation at depths of approximately 8,000 feet. Located on the south side of the Los Bajos Fault, minimal development has been completed in the Lower Cruse Formation in WD-4 compared to other properties including our WD-8 Block located to the north. The remaining three prospects target the shallower Upper and Middle Cruse Formations which achieved exceptional results in our 2017 and 2018 drilling campaigns. Further development and a potential exploration program on the WD-4 Block will be evaluated as new information, including available 3D seismic data, is reviewed and interpreted.

On our Coora Blocks (CO-1 and CO-2), we have identified three development drilling locations to further evaluate the fault blocks offsetting our 1CO-369 well which has produced in excess of 249,000 barrels of oil in four years of production and is currently producing approximately 173 bbls/d. The Company is using historical well data and anticipates available 3D seismic data will help us evaluate the potential for an exploration well targeting oil in the Herrera Formation. This is the same formation that we have been pursuing on the Ortoire Block on the eastern side of the island and is on trend with the Penal-Barrackpore field which is one of the most productive onshore blocks in Trinidad. The Company is also applying to commence a waterflood program at our 1QU-26 well where initial injectivity testing has shown excellent recovery potential.



I should probably buy more TXP shares really!

[lauders] 10/7/2021 02:00

TXP - Please give us some news so we can get this board back to some normality!

Stumpy - Only blue contributors can vote posts down to the best of my knowledge. Let it go and just concentrate on your charting. Those who don't like charting or Stumpy just ignore his/her posts or use the filter button.

Would be great if everyone could just focus on TXP, PLEASE.

[goofedagain3] 09/7/2021 21:47

I will keep a good look out for 0.57p stumpy. Thank you for the warning. And yes you may well be correct that the price could break through to 1.03/1.06. I'm going to stick my neck out here and predict that one day it may even break through to 0.96p, or even 1.09. Or some other number. Absolute genius. What would we do without those charts eh? Jeez, you couldn't make it up Lol.

[king suarez] 09/7/2021 20:25

Oh no it isn't! etc..

[spawny100] 09/7/2021 19:46

Fractious board these days here. It's like bloody soap opera. Or pantomime.

[stupmy] 09/7/2021 19:42

Lb, I modify my view according what the TA/SP is telling me. I don't blow hot and cold. Today, it seemed possible that the downside has been rejected for now. Don't lose sight of that 57p area though. Things chante from day to day. I'm not trading this particularly actively if that's your question.

[leoneobull] 09/7/2021 19:33

Stupmy. You blow hot and cold on txp on a daily basis. Are you a position poster?

[stupmy] 09/7/2021 17:56

Is that you again Buffy? I'll bet you wish you could do it twice? Did the thesaurus turn up a blank? You could get onto advfn and ask for premium members to have the right to 'double thumb'. Just a thought.

[stupmy] 09/7/2021 17:49

By the way, Chessman, you're name is (for me) so annoying. I'm a chess player and for whatever reason deep down inside myself I value your posts more highly (or less critically) than I should do. I guess that's related to the discipline of the game and from memory, you do play, correct?

[stupmy] 09/7/2021 17:14

It's a good finish that appears to have broken to the upside from the triangle I spoke about earlier. If that plays out the way they do more often than not, then we should see 103-106.

[chessman2] 09/7/2021 17:08

I remain extremely confident here and bought more late this afternoon at 85.50p which I regard as exceptional value.

Just a matter of patience!!

[1corpse] 09/7/2021 16:58

Please keep to small words like oil and gas, drill, is ok, so we know what they mean.

[stupmy] 09/7/2021 16:27

Do they itch Buffy? The way I remember it, worms itch, but I've never had a bum full of sycophants?

[stupmy] 09/7/2021 16:20

I once had worms, buffy has sycophants? That's serious.

[1hercule] 09/7/2021 16:11

It looks like a couple of bullys sorry buffys sycophants have turned up.

[spangle93] 09/7/2021 16:07

Hey, you don't have to be past 70 to yell at pigeons.... or seagulls....

er, do you? ;-)

[davidblack] 09/7/2021 16:02

Clearly we are “in waiting and get bored mode.”

What does catch the eye is the volume is high and that 113,300 sale at 83p looked like someone clearing the decks.

Add some overdue news next week and we might well be 10p higher next Friday?

[stupmy] 09/7/2021 15:59

One at a time sleveen, one at a time.