Touchstone Exploration Share Discussion Threads

[che7win] 14/8/2021 08:47

Flat in Canada.Pro....good summary.

[leoneobull] 14/8/2021 06:51

Was yesterday the Royston bounce? Disappointing share price reaction if so.

[stockport loser] 14/8/2021 06:34

PB has always said he will not use debt for exploration. So if Cas is not going to add revenue until H2 2022 then I don't see how Kraken will happen in that year. If Royston is a success I can see a placing to accelerate exploration. Why waste a year?

[pro_s2009] 14/8/2021 01:28

Thanks che7win, that ties in with what I have been saying and also the replies I have had from the company and that I have posted many times.

They will use debt to fund ongoing requirements until Cascadura is online, so no equity placing is going to happen.

Which leaves the 9 million share short in London a bit of a problem now and how they close it, it was easy to sell it all the way down to 90p, but now they have to buy it all back again from the market which is/was not their plan - they planned on a placing to get cheap stock to close it.

IMO, as below:

Chinook updip oil will be 2023 exploration.

2022 H1 is all out to get Cascadura done and online by end of June 22 latest. NGC build the gas pipeline but TXP has to build the oil pipeline for the liquids.

2022 H1 may also be all the admin work to get Royston online by end of 2022 (in the event of a Royston success). So a Royston license area EIA will be required.

2022 H2 will be phase 2 exploration and infill drilling. So Steelhead, Guabine and Krakken plus infill drilling at Cascadura (and maybe Royston). This waits for Cascadura to be online. TXP could be 200 or 300 mmscf/d by end of 2022. 200 with Cascadura infill wells, 300 if Royston comes in good.

Coho-1, best estimate that is going to be late December 2021 online, any earlier is a bonus.

The 4 wells in the SouthWest oilfields commencing soon with the new Canadian rig are 1 million dollars per well, cheap and quick to drill and payback is very quick at current oil prices.



che7win 13 Aug '21 - 15:08 - 21677 of 21683

I’ve followed up with the company today with some questions I had from todays update:

Without going into specifics, I asked about Coho timelines, Cascadura, Coho and funding.

Answers in quotes are verbatim.

Answers:
1. Clarification on funding - “We will get cas on with cash we have. “
They made it very clear in their reply there will be no equity funding....

2. On Coho - from reply I understand it should be producing November.

3 They will revisit Chinook at a later date “Have much better things to do for the next year. “



Ultimately its summed up in this line from Paul.

".........“Our primary objective remains to bring our Coho and Cascadura area natural gas exploration discoveries at Ortoire onto production as soon as practicable............"

They have to drill Royston-1 in Ortoire and the 4 development wells in the South West - those are license commitments. Beyond that their primary objective and sole focus is Coho and Casca on line. Exploration drills, infill drills etc.. are all pushed back to H2 2022, or from when Casca is online. Once Casca is online and cashflow piling in and they are drowning in cash, they will unleash the beast............

[joey1998] 14/8/2021 00:20

Agree. 99% of AIM needs to “ramp”, “talk it up”, etc. This is, I _hope_, one of the few to graduate past that. A rare thing it has to be said. I am still slightly nervous. I will be much, much happier once I see a cash balance from Coho or Casc. At that point the Rubicon will have been crossed. I rather like the matter-of-fact statement in the RNS; no BS, no ramp, just a statement. To me is exudes confidence. Now, PB, f’kin deliver me the cash please.

[pro_s2009] 13/8/2021 23:41

Sunbed44.

TXP no longer needs to raise money, no more placings.

They now can, and have, gone into a more mature facts based reporting.... What we have achieved type of reporting.

There will be very minimal webinars and interviews going forward. TXP does not need to hype up any dubious potential (like you see so much on AIM stocks) , they have proven, flow tested and independently verified reserves worth nearly twice the current share price and they have enough funds to get Cascadura online and with it a wall of cash coming in.

[11_percent] 13/8/2021 23:12

Does not want to answer questions.

[sunbed44] 13/8/2021 19:20

Wonder why PB not done film clip today

[ngms27] 13/8/2021 16:04

Yes unless you want to top up nearer to 75p

[adon30] 13/8/2021 16:02

Oct/Nov is going to be the next set of news time. Everyone needs to be patient until then.
Around then will have:
Royston drill complete and preliminary results
Coho Gas connection confirmation
First workover drill with new rig in the south (and maybe) online to production by around then

Rest of this month fairly quiet apart from pressure results for Chinook.
September should also be quiet as the work will be going on in the background such as the start of pipeline for Coho, EIA continuation and preparing for oil fields workovers. All with Royston ticking along.

Does that mean I can have a rest until October...?

[che7win] 13/8/2021 15:08

I’ve followed up with the company today with some questions I had from todays update:

Without going into specifics, I asked about Coho timelines, Cascadura, Coho and funding.
Answers in quotes are verbatim.

Answers:
1. Clarification on funding - “We will get cas on with cash we have. “
They made it very clear in their reply there will be no equity funding....

2. On Coho - from reply I understand it should be producing November.

3 They will revisit Chinook at a later date “Have much better things to do for the next year. “

[zho] 13/8/2021 15:06

"Touchstone has suffered unduly in ratings terms after an incredible start to its drilling campaign in the Ortoire Block in Trinidad. It was as if the market thought that they could go through an extensive drilling campaign without a dry hole although the total project has been an unqualified success. Whatever Royston brings you could double the share price back to the previous high and it would still be a cheap share."

[buffythebuffoon] 13/8/2021 13:36

Hey Sleveen, let’s keep commercial fishing out of this..

Buffy

[maxxy1] 13/8/2021 13:14

FYI, I do hold TXP, but not convinced of it, until proven ;)Of course I'll get more, once it hits my target around 60p ;)

[maxxy1] 13/8/2021 13:13

*you're. It's fine to ramp, but learn basics. People here are salty lol

[hiddendepths] 13/8/2021 12:35

SDX very frustrating for sure. But we can look on in envy at Ibn Yunus, discovered in July, likely on stream end August. It's just a little add-on but still... I guess South Disouq too a long, long time though...

I do agree about SA -1X btw. Odd that the shares have ignored its spudding.

[stockport loser] 13/8/2021 11:50

Your making Linton look intelligent...

[thebull8] 13/8/2021 11:27

You're referring to Pantheon yeah...

[maxxy1] 13/8/2021 11:21

SP still extremely high for a company with no flow test and proven oil. Expect to see major correction here

[sleveen] 13/8/2021 11:10

buffy

"trawled thru'" rather than quick check?

[ngms27] 13/8/2021 10:47

OT PANR

I think it's chicken and egg. They won't get a decent farmout until they have successfully flow tested.

50:50 whether it works in my opinion at best. When you see the marketing machine being wheeled out like PANR are, it makes my bullsh1t antennae raise.

[buffythebuffoon] 13/8/2021 10:36

Just had a quick check. Plentymorefish doesn’t post here. What a shame.

I’m (genuinely) off to get some medication now. Apologies to all.

Buffy