Touchstone Exploration Share Discussion Threads

[davidblack] 26/8/2021 21:01

A question if anyone can remember.

How much are the legacy wells likely to cost? I seem to remember $1m but that feels too low.

[buffythebuffoon] 26/8/2021 14:34

Sorry for the off topic post, although there’s nothing to discuss at the moment, but I forgot to add, the little boy voting all my posts down needs to get a life. What a sad person he must be. Mind you, he no doubt has callouses on his hand, so I should feel sorry for him.

Buffy

[che7win] 26/8/2021 12:40

Hotstockrockets email on TXP"...brokerage finnCap last month forecast more than $40 million pre-tax profit next year, noting the development potential of the assets and a risked-NAV based target price of 151p, which would be a £318 million market cap. We previously noted 125p as our target, though both are still well ahead of a current 80p and the shares are still a buy."

[buffythebuffoon] 26/8/2021 12:32

Besides the operational delays due to Covid, drill transport and bad weather, we are doing ok then?

Buffy

[adon30] 26/8/2021 08:48

State of emergency to continue in Trinidad for a further 3 months



However looks like Txp operations can continue around this with some restrictions. May affect length of time to complete coho pipeline but it’s also the wet season which will have a bigger effect on operations.

[davidblack] 26/8/2021 08:30

The costs of bringing the drill to the island which TXP paid are probably recoverable as an ongoing discount against future drilling costs until recovered.

That’s not an uncommon approach for risk sharing the upfront financial costs between the operator and TXP the end client.

So it’s likely the end cost will be zero, just a cashflow issue.

[pro_s2009] 26/8/2021 08:26

Thats Heritage for the 20% of come license areas, not the NGC.

NGC pays for all pipelines to connect TXP gas discoveries into the gas pipeline. They also of course buy all the gas. So having them flush with cash ahead of Coho and Cascadura coming online is a very good thing - quick payments for gas.

[thebull8] 26/8/2021 08:15

Ain't they meant to find like 20% of the drill costs too?

[pro_s2009] 26/8/2021 02:34

NGC flush with cash now.........



.

[davidblack] 25/8/2021 20:31

Drill breakdowns kill productivity and an old underpowered drill is a recipe for breakdowns.

So the productivity of the local drillers may well be fine.

[adon30] 25/8/2021 20:25

If they can achieve half those rates (with a bigger rig) in Trinidad we will be doing well.
But we all know Trinidad runs on a different timescale....

[davidblack] 25/8/2021 19:22

Adon well we will see but those numbers give grounds for quite a lot of optimism.

[adon30] 25/8/2021 19:04

The smaller version of the Star Valley rig that is used in Morocco can drill 300-350 meters (980-1150ft) in a day! It averages around 175-200 meters (575-650ft) a day with the schedule they run.


That is drilling Moroccan geology so not sure how it compares to T&T.
However the rig on the island is bigger and more powerful than that one....

[gopbg] 25/8/2021 18:21

I have not sold any shares (bought a few more) Coho cash flow will build momentum ....Success at Royston will bring on a new share price high

[gopbg] 25/8/2021 18:07

Is the paint dry yet?

[davidblack] 25/8/2021 17:07

If this new drill is quick once Coho is up and running I wonder how much spare capacity there is in that 8 inch pipe.

Back in 2019, the Coho prospect had three target drill locations.

I wonder if one of the reasons Shell were being difficult re Coho was in part to get a slice of that gas. With the Cascadura having to wait till Q2 2022 a quick drill into Coho 2 might easily be separately financed. Just musing of course.

[1domus] 25/8/2021 17:03

DB, I am truly sorry.
The six wells will come if Coho comes online and the money is there.

[rabblrouzr] 25/8/2021 16:51

Week 37, mid-September...terrific!

[davidblack] 25/8/2021 16:46

Domus that’s a disgrace, it’s an outrage!

Week 37 starts 13th September per Mr Google.

Does this mean your hoped for 6 legacy wells this year is now possible? The daily drill rate will be interesting, anything above 300 feet a day in particular gets exciting.

The interesting aspect of that change is it suggests this drill is quick for mobilisation and demobilisation. That’s the most irritating cost of any drill programme.

[1domus] 25/8/2021 16:29

I will have to move the first Legacy well from week 39 to week 37. Sorry😉

[stockport loser] 25/8/2021 16:24

Why don't we all just wait for the RNSs rather than use the pin the tail on the donkey strategy.