RE:get this
Wildcat you are totally correct, Touchstone merged with Petrobank, which was working on Thai injection in oil sands in Canada, after the merger they sold off the acreage, scraped the project and used the cash to drill in Trinidad. Some of us have owned this company for a long, long time. That was not C02 Injection, they were using heat to extract oil from bitumen but we know that Paul is very familiar with injection technology. I was just considering that Predator is already spending the Capex to inject C02 and as of February 15th, they are seeing about 90% more oil production. They are now injecting even more C02 to see how high they can get these wells to flow and eventually figure out if it's economic or not. It doesn't cost Touchstone a penny to watch from the sideline. If the technology works and the price of oil is high enough, this might be a potential scalable high roi project. The scrubbing and workovers projects are nice, but at 40-50k each, and only about 20 per year, I always thought of them as maintenance Capex because they never managed to put more than 1 or 2 million to work in any given year at these high rates of return. C02 Injection might be another way for them to get those type of returns, and Predator shareholders are covering the tab. What's not to like?