Touchstone Exploration Share Discussion Threads

[captainfatcat] 15/7/2021 18:51

Impressive bit if kit

[dcarn] 15/7/2021 18:29

Thats the new rig started its journey.

[davidblack] 15/7/2021 14:26

Not sure the exact timeline and volumes matters that much, what they need is a rapidly growing Cascadura producing cash which they then can rapidly deployed on new drill targets.

It’s at that point the stock is £10-£15.

Till then this is just starting to walk upright. Running will take a little while.

[pro_s2009] 15/7/2021 14:01

Another one, much the same. Really looking forward to the Cascadura development plan timeline.

Paul talks below about 200 per day from Cascadura. Well yes, we know that when its "really flowing" in 12 to 16 months time, it will be at 200 per day. But when will that initial 60 per day be flowing ?

Coho - September/October - 10 mmscf/day

Cascadura - initial 60 mmscf/day ????????
Cascaudra 12 to 16 months - 200 mmscf/day




.........Touchstone Exploration CEO Paul Baay said in the last two years the company has successfully drilled four explorations wells to the Herrera sands in the Ortoire Block, and all were deemed discoveries.

“These are namely Coho-1, Cascadura- 1 ST1, Chinook-1 and Cascadura Deep-1.

"Touchstone has signed a key gas sales agreement with the NGC for the purchase of all gas produced from Ortoire Block. In the coming months Touchstone will bring online our first gas discovery – Coho – at approx 10mmscf/d.”

He said, “We are also working closely with stakeholders to complete the environmental impact assessment for the development of the Cascadura gas discoveries which can see a potential 200mmscf/d liquids rich gas added onto national production, and we are currently completing our testing at Chinook-1 and expect such gas production to be added via pipeline back to the Cascadura facility.”.........

[davidblack] 15/7/2021 12:31

HB yes agreed but I just mean that Cruse in itself probably was enough to cover the “Where did the gas come from if the Herrera is oil” question.

I am sure it’s a lot more complex. Sadly I don’t think they will be drilling there for quite a while so no further explanations will be forthcoming.

But nice to know they are not mad!

[homebrewruss] 15/7/2021 10:40

DavidBlack, couldn't it still be that there was gas lower down in the Herrera too but well issues put paid to that?

[davidblack] 15/7/2021 10:38

Now we know where the gas came from in the initial Chinook reports.

Clearly Cruse is yielding serious gas especially if they plan to hook it up to the Cascadura pipeline.

The Cruse traditionally is an oil zone apparently, so finding gas in the Cruse could easily be confused with what they were hoping for at Chinook further down.

[11_percent] 15/7/2021 10:31

Is there any danger of a Royston spud......or is it now going to August/September......or, at least the company could give us some excuse for further failed delivery.

[desmond45] 15/7/2021 09:52

Linton / 11% are absolutely rattled hahaha problem with the shorts chaps?

[ballymoss18] 15/7/2021 08:05

So you agree it's a stonking buy to put away and forget about for a few years.

[11_percent] 15/7/2021 07:50

Coho ..............."coming months".....can mean anything......6 months/12 months/etc.

Casc is more than 12 months away...... “we are working closely with stakeholders to complete the Environmental Impact Assessment for the development of the Cascadura gas discoveries,…..”
They have not even got to first base……the EIS.

Royston……;is there any danger of this ever spudding. I have lost track of what the company is saying is the spud date…..if indeed they are saying anything.

[bigalan3] 15/7/2021 07:16

Can lowtone filter his own comments?

[linton78] 15/7/2021 06:54

Desperate stuff…. 🤣

[pro_s2009] 15/7/2021 06:53

From those snippets :

The Minister has now let everyone know TXP has his full support - thats probably a swipe at Shell for their delaying tactics at Coho.

Paul says Coho in the coming months.......so expect Coho testing in September and full on production October imo.

Paul says Chinook-1 gas is going into the Cascadura facility, so no Nano LNG plant. And he also says "expects".....which therefore means its flowing and flowing pretty well at the moment to make that comment.

[linton78] 15/7/2021 06:20

It’s worth what the market prices it at currently.

Your desperate ramping won’t make a bit of difference.

[pro_s2009] 15/7/2021 02:34

Some nice snippets in here :




...........Speaking at the site of the seismic survey, Minister Young said he spent an educational day touring and was pleased to see the first seismic being performed onshore since 2016, "These are very exciting times with a lot of prospects and a lot of hope for success, especially on the gas side. We at the Ministry of Energy will continue working with Touchstone. The Company is a critical factor in us going forward and providing gas production and showing it can be done."...........


........Paul Baay, Touchsone’s President and Chief Executive Officer, said “in the last two years the Company has successfully drilled four explorations wells to the Herrera sands in the Ortoire Block, and all were deemed discoveries. These are namely Coho-1, Cascadura-1ST1, Chinook-1 and Cascadura Deep-1. Touchstone has signed a key gas sales agreement with the National Gas Company for the purchase of all gas produced from the Ortoire Block. In the coming months, the Company is anticipating to bring online our first gas discovery – Coho-1 at approximately 10 mmscf/d. In addition, we are working closely with stakeholders to complete the Environmental Impact Assessment for the development of the Cascadura gas discoveries, which the Company anticipates initial production of approximately 100 mmscf/d of liquids rich gas and 2,200 bbls/d of condensate. Touchstone is currently completing our testing at Chinook-1 and expect such gas production to be added via pipeline to the Cascadura facility."................

[pro_s2009] 15/7/2021 02:34

Some nice snippets in here :




...........Speaking at the site of the seismic survey, Minister Young said he spent an educational day touring and was pleased to see the first seismic being performed onshore since 2016, "These are very exciting times with a lot of prospects and a lot of hope for success, especially on the gas side. We at the Ministry of Energy will continue working with Touchstone. The Company is a critical factor in us going forward and providing gas production and showing it can be done."...........


........Paul Baay, Touchsone’s President and Chief Executive Officer, said “in the last two years the Company has successfully drilled four explorations wells to the Herrera sands in the Ortoire Block, and all were deemed discoveries. These are namely Coho-1, Cascadura-1ST1, Chinook-1 and Cascadura Deep-1. Touchstone has signed a key gas sales agreement with the National Gas Company for the purchase of all gas produced from the Ortoire Block. In the coming months, the Company is anticipating to bring online our first gas discovery – Coho-1 at approximately 10 mmscf/d. In addition, we are working closely with stakeholders to complete the Environmental Impact Assessment for the development of the Cascadura gas discoveries, which the Company anticipates initial production of approximately 100 mmscf/d of liquids rich gas and 2,200 bbls/d of condensate. Touchstone is currently completing our testing at Chinook-1 and expect such gas production to be added via pipeline to the Cascadura facility."................

[pro_s2009] 15/7/2021 01:25

A general difference between an investor and a trader is the investor knows the fine details, the trader simply looks for big numbers (without the detail).

For example: .

TXP has proven reserves. Flow tested and independently certified. Look at how many companies on AIM cannot do flow tests, they talk of "shows" and how good it all might be......but do they have commercial flow tests ? Nahhhh of course not. PRD is the latest one to bluster how good their drilling results are, even though its commercial failure. 88E has a history of doing this. PANR did it in Texas and now doing it again in Alaska. They all waffle but do not deliver commercial flow test results.

TXP has not fully tested Cascadura Deep-1, therefore a lot of the net pay there will not move into being proven reserves until a later date when its flow tested.

TXP is onshore and cheap to get into production (people happily try to compare offshore gas prospects with TXP onshore success). Offshore requires massive capital costs to develop.

The current share price of TXP is depressed as there is a 9 million share short on it, that short has to close.

Successful Cruse news (this week or next) would help turn sentiment to the more positive and then Royston kicks in.

Given TXP has proven reserves worth 150p a share, and is currently under 100p.......it becomes a "free ride" for any speculators now to buy TXP and wait for Royston results. Provided you buy with real money and are prepared to wait 12 months, you will see 150p and more regardless of Royston result imo.

So yes, its a free ride now, you can be exposed to Royston, basically on a 12 month view you will get 50% share price rise as a minimum if Royston is a duster, and you will get all the upside if it comes in good - and then - if your holding in 12 months - you also get Phase 2 of the exploration drilling which includes the gigantic Krakken prospect.

200p takeout would be daylight robbery...... If Royston is a success, there is no way anyone would be able to buy the company for less than 400p a share. I still expect to see 500p share price by Dec 2022.

[inthemix] 14/7/2021 23:12

Hopefully no need for any Shell takeover, this is cheap exploration and there's hopefully a long successful story infront of us with the Ortoire, following this amazing 'opening quarter' through the pandemic. I believe PB has delivered an will continue to deliver as we expand. Massive thanks to Xavier Moonan too, proving he's more than capable in his role with the detailed Twitter posts with the analysis of his work ":^)"Opening quarter" been from the initial coho strike to where we are now.Might be opening eighth...Might be opening 16th...

[chessman2] 14/7/2021 21:59

I'm exceedingly pleased that I've drawn holders out of their shells.

Yes, of course, TXP is worth more than £2 and with this recent publicity more investors will be aware of the hidden value within TXP.

Sturm2 and herman007 are absolutely correct in saying that TXP is worth a lot more than £2. I happen to agree with them and know that the future here is looking remarkably good.

I continue to hold and remain very confident.

[davidblack] 14/7/2021 21:07

Assuming the Cruse comes good? Then it opens a whole new tier of cheaper drill prospects on the exploration and historic ground.

So while the initial Cruse at Chinook might be modest it may well uncork another 10, 20, 30 or more new targets.

It will take months for the market to work this out and many more before it gets priced in. Let’s hope it delivers.


Fingers crossed!

[davidblack] 14/7/2021 21:03

If the Minister is saying August then it’s going to happen in August, plus maybe a couple of days at most.

Upwardly mobile politicians don’t give that sort of deadline unless it’s in the bag.

[the_gold_mine] 14/7/2021 20:29

Depends how quickly Coho can get monetized. Until an agreement is reached regarding the end pipe delivery point, that will weigh on sentiment. Cascadura looks to be a year away at least (in my opinion - others disagree).

[sturm2] 14/7/2021 20:29

2 pounds, hehe. Just look at how much the share moves now and how small the volume is. Then imagine picking up 5% - hardly possible even now <1,5£

What people seems to forget regularly is that we have no significant major shareholders. It's just impossible to accumulate any serious, respectable "overwhelming" share... of the shares... on this side of 5£, possibly 10£. A lot of us PIs have significant holdings and even better patience. Personally I'm not leaving TXP until I know what Kraken holds - it's likely huge and there's got to be oil on the upper part of that pool. I hope to reach 20 CAD - that includes paid dividends though - and I absolutely dont care if it takes 5 years.
As Herman007 mentions, there's no shortage of big and bigger prospects.

Also IMO forget about shell. What did they acquire last? Read up on their strategy - they're simply not going to buy into a mixed O&G exploration company. They'll hardly be able to drill "just" after oil. They expect oil production to drop by 1-2% per year and there's no now exploration from 2025. Pure gas - maybe. Mixed bag of O&G including exploration - hardly. They want to (/are being forced to) reduce their carbon footprint - acquiring TXP doesn't fit into that roadmap and it's IMHO so last decade to think Shell will buy TXP (unless perhaps if TXP finds several TCF gas and no oil; and then it certainly will not be @ 2£).