Potential C02 Injection in the west fields?
During the presentation someone asked Paul about possible C02 Injection? There is a company called Predator, operating in Southern Trinidad that is planning on injecting C02 into some sands with the hope of increasing oil production from 50 bopd to 350. They say that this will cost about $600,000 with a potential of increasing the recoverable oil in place by 8 to 15 million barrels. Paul said that they will watch Predator closely. If Touchstone can put some of that wall of cash to work and use high roi projects like C02 Injection and work overs to increase production from 1300 bopd to 4000 +bopd from current wells at $25 +netback we would another layer to this wall of operating cashflow. Let's cross our fingers and hope Predator is successful, there is no doubt in my mind that Touchstone can apply what they learn on their legacy wells. Does anyone know the total oil in place on the western wells? Predator intends to recover 12.3% of the oil in place assuming full injection.