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Touchstone Exploration Inc T.TXP

Alternate Symbol(s):  PBEGF

Touchstone Exploration Inc. is a Canada-based company engaged in the business of acquiring interests in petroleum and natural gas rights and the exploration, development, production and sale of petroleum and natural gas. The Company is active in onshore properties located in the Republic of Trinidad and Tobago. It operates Trinidad-based upstream petroleum and natural gas activities under state exploration and production licenses with the Trinidad and Tobago Ministry of Energy and Energy Industries (MEEI), Lease Operatorship Agreements (LOAs) with Heritage Petroleum Company Limited and private subsurface and surface leases with individual landowners. Its main exploration focus is the Ortoire exploration block. The Ortoire exploration block covers about 44,731 gross acres on the east side of Trinidad. Its other exploration prospects include Royston, Coho, Cascadura, and Chinook. The Royston location is targeting a deep gas prospect with an estimated target depth of about 11,500 feet.


TSX:TXP - Post by User

Bullboard Posts
Post by smittyfrompaon Apr 10, 2007 5:08pm
260 Views
Post# 12581076

Bakken---another view

Bakken---another viewAfter re-reading the PR, it appears PBG will have 4 rigs full time on drilling horizontal Bakkens, in 2008. Assuming PBG exits the year with 60 wells completed, a minimum of 100 more Bakken wells should be added in 2008, meaning as of Jan 2, 2009, PBG should have 160 producing Bakken wells, netting about 15,000 BOD, with a price per barrel of US $65, or cash flow from the Bakken alone, net of royalties, at almost US $1 million per day. The Bakken should not only be self funding, but may throw off enough excess cash in 2009, to allow for a self financed 50,000 BOD THAI production plant.
Bullboard Posts