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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

Comment by Proseleneson Jan 15, 2021 12:57am
196 Views
Post# 32303946

RE:Presentation video.........

RE:Presentation video.........
There is now no need to fund raise, there is no further dilution ahead.  Paul does not have to "sell" the company in interviews and presentations, he does not need to attract buyers as he wants to raise more money.  Dilution is over, as he himself said in the presentation.

He can now simply tell it as it is - he can actually be over cautious now and go more with the "under promise and over deliver" line.

If Coho comes on line in May, or June, or July........does not matter now, not going to effect anything (or maybe it does.....see later)

Casca and Chinook he has said "definitely before year end".....fine, allows to Dec 31st 2021 now for them to be on line.

Casca-Deep 2 well and Kraken-1 well "early in 2022".

Paul also confirmed that they will be using WSPCL Rig 60 for Royston.  This is a big rig capable of 16,000 feet depth (1500 Horsepower) (note that he said Kraken was 14,500 feet depth).

So assume that once WSPCL Rig 60 has its cobwebs blown away drilling Royston-1 that this rig will be then used for Cascadura Deep-2 and Kraken-1 and potentially any "new" drill that might be added to the program for late Q3/early Q4.

This maybe where Coho on line has an effect, possibly if Coho is on line quick then a new well "Steelhead" will be added in 2021.  If Coho is on line later than currently expected then "Steelhead" might be slipped into 2022 after Kraken-1 is done.  Thats my view........hence no talk of Steelhead now as this will be a fill in well late 2021 "if" things are going swimmingly, or part of 2022 program if any slight delays to things in 2021.

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