Touchstone Exploration Share Discussion Threads

[homebrewruss] 08/9/2021 21:32

Ref Xavier's previous post on Royston which was reposted a couple of pages back

'In 1965, Shell drilled the Ortoire Lizard-4 (OL-4) well to a TD of 10382 feet, encountering approximately 700 feet of gas bearing 7a Karamat and Herrera sandstones. The well was TD'd before entering the regionally more developed and laterally extensive 7bc Herrera sandstones

🔸️The well will drill the Karamat and Herrera section previously drilled by OL-4 in a structurally favourable position and will be deepened to assess at least the Overthrusted 7bc Herreras'

[thebull8] 08/9/2021 21:28

Was the Karamat gas bearing on the Cascadura drill?

[thommie] 08/9/2021 21:27

did we expect anything from karamat? does logging it mean they found sth in the karamat?

[homebrewruss] 08/9/2021 21:05

According to the twitter group they have now drilled through the Karamat (8000ft) which will be logged before proceeding down through the Herrera.

[sunbed44] 08/9/2021 20:18

Good to see it ticking up another couple of cents on very thin trading tonight

[awise355] 08/9/2021 17:06

Quite a few late trades

[sunbed44] 08/9/2021 13:09

Laz looks very strong added to my watchlist and will take a closer look after markets close as busy following a few trades at the moment.

[ashkv] 08/9/2021 13:01

Hopefully TXP recovers some momentum - been a sad situation since March 2021 - nearly 6 months...

Per Bloomberg Terminal 6 Analysts Cover TXP - All are recommending Buying
Wiith an average 12 month Target Price across 6 analysts of 156p
Highest 12 month Target Price is 173p and lowest is 115p

[loafingchard] 08/9/2021 12:42

MT , You binned off CAML?

[lazarus2010] 08/9/2021 12:41

sunbed44...check out EME, transformational news is out and the share price has thus far failed to react. There is a Broker's Note from Cenkos giving guidance in the success case.

They have just booked a rig to drill their first offshore well 'Jade' in the South Chins Sea, upside is 395mm bbls of which they will get 49% after CNOOC pay their costs and get 51% .

2 further well Topaz and Pearly, each bigger than the other, potential for 1bln bbls if all 3 succeed. This would take the share price into the £££s from pennies.

The CEO owns 88,888,888 shares so has all his skin in the game.

Very strong board also shareholders.

Also have a working interest in a gas find offshore Indonesia which is going through the GSA and final PoD PiD stages, original plan was to sell once in place but looking likely they will hold on to their 8.5% share until it gets closer to actual production and try and maximise their sale price. Estimates are that it is worth $35mln++ at current gas prices 'in the ground'

NIAI
DYOR
AIMHO

[sunbed44] 08/9/2021 11:57

Sorry for your the O/T but thanks very much for you views. Last bit for me, I also like SEPL and DEC as excellent dividend paying o&g companies.

[mount teide] 08/9/2021 11:47

Sun44 - hold large positions in TXP, JSE, SAVE and PTAL in the O&G sector, JPL and CMS in the Copper sector and CKN in the shipping/ports sectors.

Don't have any favourites - believe they all offer outstanding risk reward at their present valuations, considering the 15-20 year commodity and shipping market cycles are still in the very early years of a new recovery stage after hitting a near 20 year low in 2020.

Anyone positioned heavily overweight in O&G and Mining would appear to be in good company:

[king suarez] 08/9/2021 11:46

If we are talking O/T - I believe ADV also worth looking at (already mentioned here) as will be drilling a high COS appraisal soon and I also like SQZ, particularly at current gas prices and IOG, bringing gas on stream this quarter.

For pure copper ATYM looks extremely good value - in Spain, HY EBITDA €99m, £440m market cap, net cash positive AISC around $2.5 per lb, over 12 year mine life and various other reserves nearby they can add to it. Should be announcing dividends soon of min 30% FCF.

[pro_s2009] 08/9/2021 11:44

Standard TXP price movement when Canada jumps ahead.

CANA will slowly rise the price (picking up what sells they can) until it reaches Canada closing price and then they wait for Canada to open.

CANA making a nice fat arbitrage profit trading in both markets I believe. What they picked up today cheap in London they will sell the same in Canada at open for a nice profit.

If it rises again in Canada they will keep selling there, then tomorrow morning rinse and repeat in London.....buying back the equivalent of what they sold in Canada at a lower price then rise it again until it reaches Canada close.

[sunbed44] 08/9/2021 11:13

Mount T which is your fav stock in o&g. I really like this one and hope to see over 150p again in the short term. I also think you used to be in save as well. Not sure if you are but I think that has potent especially if they complete on the Exonn Chad/Cameroon production and pipeline%.

[mount teide] 08/9/2021 10:35

T&T - Natural gas output between January to April 2021 declined by 20.6%.

'The decline in natural gas production filtered through to the midstream sector, with NGL and LNG production falling by 22.3% and 37.5% respectively.....

.....The large drop in LNG output came about as the limited availability of natural gas resulted in Atlantic Train 1 being taken down at the end of December 2020 after BP T&T which supplied to the plant the approximately 500 million standard cubic feet of natural gas per day, said it could not guarantee a supply beyond November 2019 because of its poor infill drilling results.....


Trinidad natural gas plant to be mothballed for at least two years - after apparent ill-judged investment decision by Rowley administration - Trinidad Guardian July 2021

[mount teide] 08/9/2021 10:24

Perfect timing for an ultra high margin and ultra low development and production cost operator to bring its huge onshore nat gas assets into production.


Trinidad LNG output hits record monthly low - Argus - 25/08/2021

'A deepening shortage of natural gas and soft global demand suppressed Trinidad and Tobago's LNG production to 1.1mn m³ in May, 19pc less than April, and the lowest monthly output in 18 years, according to the energy ministry.

The output reflected the impact of the indefinite shutdown since January of producer Atlantic's 3mn t/yr Train 1 -- its oldest unit that accounts for a fifth of the facility's capacity. LNG production in January-May totalled 7.17mn m³, 39pc down year on year, according to the ministry's figures.

Shell and BP are the main shareholders in the 14.8mn t/yr four-train Atlantic facility that is located at Point Fortin, in southwest Trinidad. Minority partners are Trinidad's state-owned gas company NGC and China's sovereign wealth fund CIC unit Summer Soca.

The country's January-May natural gas output fell by 20pc to 2.73Bcf/d from a year earlier.

Gas output in May of 1.06Bcf/d by the country's biggest producer BP was 15.5pc below April levels. Other major producers are Shell, BHP and EOG.

Gas allocated to LNG production in May was 910mn cf/d, 20pc less than April, according to the ministry's data

Trinidad's gas flow had been recovering since November 2017 following a long slide from a peak of 4.3 Bcf/d in 2010. The expansion has slowed since early 2020 when the Covid-19 pandemic prompted restrictions and closures that stalled the economy.

Atlantic's Train 1 was closed after BP, which supplies all the gas for the unit, said its infill drilling project failed to deliver at forecast levels.

"Although there are several projects that will deliver significant quantities of gas by the start of 2023, we cannot predict when there will be a significant reversal of the slide in LNG output," the energy ministry told Argus.

The gas shortage has also affected the country's petrochemical sector.

An additional 40mn cf/d of gas is projected by the end of 2022 from the offshore Zandolie field following a 1 August gas sales agreement between NGC and DeNovo Energy, a subsidiary of Swiss fertiliser producer Proman.

Trinidad and Tobago is aiming to restore natural gas production to pre-Covid-19 levels by the end of 2022, energy minister Stuart Young said in June.'

[mount teide] 08/9/2021 10:00

With global Nat gas storage at record seasonal lows, and LNG spot pricing and piped nat gas pricing at an all time record high and multi decade high respectively, driven by the post pandemic bounce back in demand coupled with an acceleration of the global transition to lower polluting energy sources, Offshore Tech asks is:

T&T at risk of undersupplying its downstream demand of feedstock natural gas?

[thebull8] 08/9/2021 09:53

Especially if we get some reluctant buyers ;-)

[captainfatcat] 08/9/2021 09:48

Good things come to those who wait

Tick tock

[pro_s2009] 08/9/2021 09:21

If anyone has not read the TXP MDA for Q2/H1 (13th August release), the PDF file is on the link below. Some extra snippets of info are in there.



.

[fillipe] 08/9/2021 09:04

I think we'll soon see the whole of the ask into the 90p's.

f

[sunbed44] 08/9/2021 08:59

Could get interesting this pm if a few buyers appear here or there

[mount teide] 08/9/2021 08:54

L2: moved to 3 v 1 / 86p v 89p (rest between 90p and 95p)