Touchstone Exploration Inc T.TXP

Does the seismic give them an idea of the size of the oil

[drunk@noon]

in place. Given they know that it is 30 feet of net pay, and they know the porisity, and they have a read on pressure, and the sisemic gives an outline of the sheets, would they have a good idea about the size of oil in place. And given the porsity and pressure metrics would they have also have an idea about recoverablitly. And as such, what kind of recoverablity factor is there for these type of plays. Would 20% be a good ballpark figure to use?

Thanks in advance, I am always surpirsed with the technical expertise on these boards.

[Taffypalmer2014]

Seismic absolutely will be used. GLJ will make a total volumetric calculation of all the reservoir depths of pay and come up with a total calculation of the rock volume. They'll then apply porsity, water saturation (3%) in this case and come up with a total OOIP original oil in place. Then a recovery factor based on analogous fields in the area will be applied (like you say 20%) to come up

[WelshGeo]

The house broker finncap used the following language in a company report yesterday " oil in place thought to be at least 100 mmbbls, and potential significantly larger".  Presumably, they have spoken to the company and this is a reflection of the internal Touchstone assessment.  Touchstone also released a new presentation today which provides more insight.   Lets

[Margin321]

They were still in oil pay at total depth - the well was unbounded to the deep size.  Since they do not really know the total vertical extent of the oil pool it will be a little difficult to get precise estimates of the size of the discovery. I do not think they did formal pressure build up testing.  So more to come on how big the discovery is in the intermediate sand.  They will