Touchstone Exploration Share Discussion Threads

[mount teide] 23/8/2021 11:28

L2: moved to 1 v 3 / 84p v 87p (then 1 x 88p and 89p, 4 x 90p and 1 x 91p)

[awise355] 23/8/2021 11:07

Thanks all the reddit info was very informative and exciting!

[spangle93] 23/8/2021 10:47

awise - the "gas effect" was probably words on old drilling records, relating to higher levels of gas being seen while drilling.

This would be more noticeable when they make up connections of drill pipe; during drilling, the friction from circulating mud and cuttings back to surface increases the effective density of the mud that holds the formation fluids back (and the walls of the uncased well in place). When they stop pumping to make a connection with the next length of pipe, pressure falls slightly, allowing small (you hope!) amounts of gas to mix with the fluids at depth and thereafter rise to surface.

It's not always straightforward from logs alone - particularly with the limited 1950s technology - to assess whether reservoir rocks contain a gassy oil, or a liquids-rich gas. But as thebull8 says, Mr Baay has guided us towards the target being more similar to Cascadura than Chinook, plus the additional depth would point to gas generation.

[mount teide] 23/8/2021 10:39

L2: moved to 1 v 3 / 84p v 86p (then 1 x 87p and 88p, 4 x 90p and 1 x 91p)

[mount teide] 23/8/2021 10:33

L2: moved to 1 v 1 / 83p v 85p (rest between 86p and 91p)

[pro_s2009] 23/8/2021 10:25

All the info about Rosyton-1 is in the link below :



.

[thebull8] 23/8/2021 10:21

From PB interviews he has stated the wirelogs from Royston are very similar to the wirelogs from Cascadura

[awise355] 23/8/2021 09:45

This is in reference to Royston I should have said!

[chessman2] 23/8/2021 09:43

I suspect many investors are now realising the value that TXP is really worth.

IMO the share price should be circa 100p increasing to previous levels and beyond as the forthcoming work is completed. We only have to make one big discovery and we will head northwards at a very fast rate.

[awise355] 23/8/2021 09:42

Good morning. That was my buy of 10,000 and 20,000 having sold out of SNG.One question. The slides show '700 feet of gas effect' Is gas effect any different to what they experienced on the other logs at coho and cascadura drills all those years ago?I'm starting to review presentations now just wondered if someone knew the answer off hand!

[mount teide] 23/8/2021 09:31

L2: getting walked up by MM's on low volume: 1 v 1 / 82p v 84p (rest between 85p and 90p)

[mynameiskhan] 23/8/2021 09:25

Yes, at the moment the only catalyst for TXP is Royston result.If they hit the gas, then share price is likely to hit previous high

[sleveen] 23/8/2021 09:07

... being a discovery would also help :-)

[stockport loser] 22/8/2021 17:26

Royston TD is the only thing that matters short term - end of Sept. I'm going for the 25th.

[apad] 22/8/2021 15:34

Please can I have a novice's guide to key dates for me to follow please.
Some bandwidth but no subtlety 😊
Pretty please.
apad

[davidblack] 22/8/2021 15:27

Coho at least isn’t in virgin forest.

But sadly it came with a Shell NGC testosterone fight that added 9 months to the process.

[pro_s2009] 22/8/2021 13:53

Coho 8km pipeline and Cascadura 3km pipeline.

[davidblack] 22/8/2021 11:45

Yep putting in a 8km gas pipeline in the wet season through a ecologically sensitive forest is not something you want to contemplate. The dry season makes so much more sense and the timelines too.

[captainfatcat] 22/8/2021 10:10

31st of July 2022 seem much more plausible Touchstones previous end of 2021 was always pie in the sky.

[sunbed44] 22/8/2021 10:02

I definitely prefer the actions mean more than words approach. Too many CEOs talk a really good game and fail to deliver. A few glaring examples over the years would be Masterman (WRES) Parsons (SOU) Ritson (LGO) Lenigas (I could name quite a few) Lofgran (NTOG).Really hoping that the guys here deliver on what they say, albeit not quite as quickly as we always hope for. I would really like to think that we could test the current 52 week high (178p) within the next 12 months.Also I'm slowly moving some of my investments to divi paying stocks and potential divi paying stocks. I see this as a good potential one in that bracket. Whilst I clearly understand theres lots to consider but I do like the fact that there are only 211m shares here.

[davidblack] 22/8/2021 08:55

Cascadura connection to be completed before the close of the dry season on 30th of June 2022, is now the plan.

The change in PR approach to less forward comments and more post event confirmation now has the following as their current “State of play.”


From the last Q2 accounting and management report:

“Cascadura

We have completed the design of the surface facilities required to meet the initial and long-term production capabilities of the Cascadura-1ST1 and Cascadura Deep-1 exploration wells that have been successfully tested. The Company has submitted a comprehensive field development plan to the Trinidad and Tobago Ministry of Energy and Energy Industries in conjunction with a declaration of commerciality.

The Cascadura surface facility Certificate of Environmental Clearance ("CEC") application was submitted to the Trinidad and Tobago Environmental Management Authority ("EMA") in April 2021, and the EMA subsequently informed Touchstone that the application will require a Cascadura area Environmental Impact Assessment ("EIA"). The CEC application and associated EIA relate to the comprehensive development of the Cascadura reservoir, including a proposed main surface facility and an 8.3-kilometre liquids pipeline that is expected to run south from the surface facility to the Heritage Catshill manifold.

A third-party contractor has been engaged to assist with the Cascadura EIA Terms of Reference ("TOR"). Dry season baseline environmental survey work was completed in May 2021, and wet season baseline environmental study work is expected to commence in September 2021. Stakeholder engagement was conducted between June 2021 and early July 2021. No requests were made from the stakeholder engagement process for changes to the draft TOR, and the final TOR was received from the EMA on July 29, 2021. Touchstone expects to submit the final EIA TOR submission to the EMA by the end of 2021.”

Cascadura cashflow into their bank start 31st of July 2022.

[1domus] 22/8/2021 07:26

Has now done a little more research and adjusts the timeline:

Week 35 - Coho pipeline started
Week 39 - first Legacy well on WD-4
Week 40 - TD Royston / log results
Week 42 - Second Legacy Well
Week 44 - first test results Royston
Week 44 - third Legacy well
Week 46 - fourth Legacy well Coora deep
Week 47 - Coho online
Week 48 - start pipeline Cascadura ?? NGC
Week 49 - Fifth Legacy Well (If Coho Online)
Week 50/51 - EIA
Week 51- Sixth Legacy Well (If Coho Online)
Week 1 start facility Cascadura

Ps. Estimates based on known and unknown info. Txp must drill 4 Legacy wells. I have estimated 6 wells as Txp did not bring in a rig to keep it inactive. Nevertheless, the last 2 wells are dependent on Coho being online before they start as Txp will not collect more cash.
The 4 weeks between TD Royston and the first test result is because Txp needs time to rig down the drilling rig and bring in test equipment. Most likely they will release test results along the way.
EIA should be completed by New Year. Week 51 can therefore be within.
NGC will start work on the pipeline before EIA is completed and will have it in place before TXP has completed the facility on Cascadura as this cannot be started until EIA is available.

Then it will be interesting to see if Star Valley moves to Cascadura in January to drill production wells there when EIA is in place.

[buffythebuffoon] 21/8/2021 18:58

Good bait for Bream and Bass.

If there are any Bass and Bream around they come to the surface for a snack. Once in a while I catch some and they have a rest in my keepnet before I let them free to do it all again.

Buffy

[1corpse] 21/8/2021 18:03

No trout men here, just some old oilers.