RE:RE:Touchstone's 2020 NI 51-101 Reserves at 64.94 MMboe P+P
Definitely, can't remember if it was XM or PB, but they did mention a potential opportunity to go deep in the Western play and see what's there. Hopefully it's something they do after most of the development wells are online so that they can absorb any costs and not blink. To me it sounds like they are bringing in the rig to drill 15k feet to the Kraken in 2022 and hopefully take another shot at hitting TD at Cascadura Deep. I'm speculating that if there is any extra time between exploration wells, maybe while testing etc...they'll go ahead and drill the 4 planned wells in the legacy fields just to keep production from falling below 1300 bopd. It's kind of a shame that they spent all that time getting the legacy fields up to 2k bopd per day and then let them decline but all things considered that was their best option and the exploration success has more than offset the decline. Coho alone makes up for most of the lost production. Since it's Ngc policy to own the pipe, do you think Touchstone will sell the 8 million dollar pipeline at Coho right before it goes online? That will more than pay for Royston... :)