RE:explode the ignorant poster
Wildcatter, You used to post constructively informative posts, what happened? You sold? Congratulations.. Can you stop trying to shake the trees? We all understand that you would love to buy in at a lower price point, who wouldn't? But don't you think spreading misinformation and doubt on a Bb is a naive and silly way to do it? Your biggest argument is that there are no customers for the gas. I counter: Natural gas production in Trinidad fell from 3.5 to 3.1 bcf over the past year. They need production to grow! If you read the transcript from the most recent Methanex conference call you will read that they closed the plant because there was a lack of available natural gas on the island and that they would love to reopen if they can get a long term supply. That's what the ngc contract does, and when the flow tests are done they can sit down and work out a long term deal if it makes sense. Argument 2: Coho is small.. It is. 500k per month pays for just one exploration well per year. Add that to the roughly 1300 bopd that they are already producing. They are generating enough cashflow to cover their overhead costs. Guidance : By the end of 2021, we expect to have an additional 100 mcf/d in production and 2500 bopd of liquids. The Gas alone should be worth about 5 million per month. 60 million per year that will mostly go towards paying for the development and exploration wells in 2022. By end of 2022, we should have as much as 320 mcf per day from Chinook and Cascadura if 8 development wells are drilled on each site. If Royston hits you can expect another 5 development wells and another 100 mcf per day. That gets us to 420 mcf per day, an additional 4000 bopd. By my count that's rough 240 million per year from the Gas alone. Add another 5 million from Coho. Add 12-16 million from legacy wells. Add 36 million for the liquids production. That should give you a good idea of what Revenue will look like in 22 months if everything goes smoothly. Will it? Who knows, if history tells us anything, it will take a little longer than expected but we are about to get new test results and reserve report that will help us understand what is going on. We still have about 20 targets, that will cost about 5-6 million each to drill. If each well has a 30% chance of success, you can expect Touchstone to spend about 120 million and find about 2-3 tcf more gas over the next 10 years. Nobody is telling you to buy shares, in fact nobody really cares about you or anything you do or did. If you have something interesting to add please go ahead but you are actively trolling.