Touchstone Exploration Share Discussion Threads

[11_percent] 13/8/2021 07:12

Executed an amendment to our $20 million term loan facility agreement, extending the principal availability period from June 15, 2021 to December 31, 2021, thereby allowing us to access the outstanding $12.5 million available balance prior to the end of the year.

=============

Mmmm.....only till Dec 2021.......we need that to extended to mid 2022........so placing in 2022 still a possibility.......if Casc not on-stream till mid 2022 as expected.

[lauders] 13/8/2021 07:11

Chinook-1

In the fourth quarter of 2020 and the first quarter of 2021, we performed a total of three production tests on the Chinook-1 well in three unique Herrera sand reservoirs. All tests encountered minor amounts of oil and were subsequently abandoned.

A fourth zone was completed over a 25-foot interval in the Cruse Formation between 3,004 feet to 3,029 feet on July 3, 2021. The well was initially opened to flow and recovered load fluid and dry natural gas. Downhole pressure recorders and well testing equipment were installed to perform a deliverability flow test on July 13, 2021. The flow test spanned a total of 45 hours, comprised of an initial clean-up flow period, followed by an initial shut-in period and a five-step rate test, including a 24-hour extended flow test. During the extended flow test period, the well achieved a peak production rate of approximately 0.7 million cubic feet per day ("MMcf/d") of dry natural gas and flowed at an average natural gas rate of approximately 0.35 MMcf/d with an average flowing pressure of approximately 200 pounds per square inch. No liquids or water was encountered during testing. The well was shut in on July 15, 2021 for a 30-day pressure buildup, after which the downhole pressure recorders are expected to be recovered in mid-August 2021 for further analysis.

Overall a quick read looks promising. Hope the market is "happy". End of the month for more news:

Continued Coho-1 natural gas facility construction operations and currently await stakeholder approval to proceed with pipeline installation.

Perforated and initiated production testing of the Cruse Formation in the Chinook-1 well, with final results expected in late August 2021.

[pro_s2009] 13/8/2021 07:11

That 12.5m dollars of extra available credit will now see them through to Cascadura being online and the wall of cash.

So....Paul has kept his word, so far, and no placing is planned at all. Debt will be used until CashCowDura is online.

[davidblack] 13/8/2021 07:10

A target called Bass was mentioned?

[dunderheed] 13/8/2021 07:10

Chinook peak production 0.7 mmcf per day, world class.

[11_percent] 13/8/2021 07:09

At last.....Royston is on its way....

[pro_s2009] 13/8/2021 07:04

Two major headlines. Royston is ongoing and debt will be used.




Executed an amendment to our $20 million term loan facility agreement, extending the principal availability period from June 15, 2021 to December 31, 2021, thereby allowing us to access the outstanding $12.5 million available balance prior to the end of the year.

· Spudded our final Ortoire minimum exploration commitment well, Royston-1, on August 12, 2021.

[sleveen] 13/8/2021 06:54

Lauders

Mouth horse gift .

[lauders] 13/8/2021 01:46

Well it is Friday 13th and if news is released today, as many are stating, then I hope that we have a good day. Never like news on a Friday, often not the best, and if you are superstitious then doubly relevant. Bucking the recent trend would be great! GLA.

PS. Has it been discussed before, but 1domus - How do you apparently have a better idea about the workings of the company than other posters? Would be great if you are able to elaborate. Thanks!

PPS - At least we know that the Royston spudding news will be part of any update:

[1domus] 12/8/2021 22:17

Another try tonight🤞

[stockport loser] 12/8/2021 20:36

Well said. I think PB has communicated well over the last 2 years. Yes they got a bit ahead of themselves, but after Cas they had a right to be bullish.

[herman007] 12/8/2021 20:34

@hpotter: I see your point, but I believe the share price is the best parameter to measure trust/goodwill in this regard. After all, the 50% drop is not related to a stock market crash, in fact it has occured in a period of rising oil prices and strong financial markets. Prior to the 50% drop, the consensus among us shareholders was that the company was seriously undervalued.

[hpotter] 12/8/2021 19:49

herman, 21586 is a bit harsh. I believe TXP still have a lot of goodwill.

A lot of things have not been in their control over the past year.

If finding and exploiting reserves in Ortoire was easy TXP would not have the acreage as it would have been developed years ago.

[adon30] 12/8/2021 19:41

Let's see what tomorrow brings. Not expecting Q2 results to be anything amazing.
It is the other news (if any ;) ) which will be of interest.

[1domus] 12/8/2021 19:04

They will update on all operations tomorrow.

[herman007] 12/8/2021 18:39

Yes, as long as they are posted as predictions and not "facts" its what we use these message boards for. We should get an update tomorrow-not because someone predicted it, but because anything else would be a slap in the face. The company spent years building up an incredible reputation, but somehow they managed to lose nearly all their goodwill. Now they need to start from scratch by being transparent and giving the market detailed, timely, high quality and trustworthy updates.

[the_gold_mine] 12/8/2021 18:29

LOL Adon30, we've heard about 5 predictions on this board for Chinook Cruse news over the last 3 months... Why then does would a new prediction somehow then have credibility?

Sorry but even a stopped clock is right twice a day.

[adon30] 12/8/2021 17:41

NGC annual report





1domus, when is Chinook cruse news expected?

[1domus] 12/8/2021 15:45

Q2 tomorrow before opening. Including an update.

[thebull8] 12/8/2021 14:03

I think most are expecting one. Defo due an operational update

[simplemilltownboy] 12/8/2021 12:57

Do you think if we get the Q2 results tomorrow, there may be an update on Chinook and the Cruse formation? Great news on Coho. GLA

[awise355] 12/8/2021 07:55

Very early trade shown up

[buffythebuffoon] 12/8/2021 07:26

herman007,

Any more questions?

Buffy

[ballymoss18] 12/8/2021 06:23

June to August is the wettest so at least should be easy to dig.

[davidblack] 11/8/2021 22:36

3 months is a planning long stop date.