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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

Post by CR1papaon Sep 28, 2021 8:25pm
306 Views
Post# 33935048

Relative perm

Relative permHerrera is very fine grained so 3 fluid phases(oil, gas, water) present in a reservoir need lower water saturations to allow fluid flow. Chinook twinned and old Shell well with lots of rich oil shows so there is likely some oil in the reservoir. That is great but the fine grained nature of Herrera means that good oil shows with moderate water saturations flow next to nothing although pores do contain some oil. Logs need to be very carefully analyzed to distinguish between an oil saturation that is valueless and one that will produce oil and mistakes easily made. Royston is a twin of another old Shell well with very few oil shows and old logs of the thin bedded turbidites. It may be more like it's on strike analogue, Carapal Ridge 1, that had limited oil shows and over 600 feet of Herrera turbidite pay sands. In summary Chinook easily fools anyone that doesn't have a firm grasp of the Herrera reservoirs and relative permeability effects. Cheer for gas and liquids at Royston, not oil. Tests will tell, I am optimistic.
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