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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

Comment by smitloon Dec 07, 2021 8:46pm
223 Views
Post# 34208791

RE:RE:RE:Link to Interview

RE:RE:RE:Link to Interview

True. At first, due to the lower overall fluid rates from test 2, I was discouraged about test 3 but am now cautiously optimistic. 


After thinking about it, the lower total fluid from test 2 may have been due to keeping flow on a small choke - they didn't disclose choke size like they did on test 1. If you've recovered your load water and are making high water cuts why flow on a large choke and then have to haul off and dispose of 1000's bbls of water.

So, if and a big if ( which is why I would love to see the logs), we have low water saturations in the test 3 intervals we are set up potentially for a good flow rate. One, we are slightly thicker in pay than the intermediate test, two we should have better absolute perm due to assumed higher quality rock, three we should have better relative perm to oil due to hopefully lower water saturation's due to being higher in column and four we can flow at larger chokes (drawdowns) if we have low water cuts.

Lots of assumptions here and mother nature can certainly surprise ( in either direction as we have learned the hard way) but I remain hopeful for a good result from test 3.

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