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Touchstone Exploration Inc T.TXP

Alternate Symbol(s):  PBEGF

Touchstone Exploration Inc. is a Canada-based company, which is engaged in the business of petroleum and natural gas exploration, development, acquisition and production. 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. It is focused on onshore oil and natural gas properties located in southern Trinidad. With interests in approximately 145,000 net working interest acres of core exploration and development rights. Its core focus is on exploration and development on the Ortoire block and development production on its five onshore lease operatorship properties (CO-1, WD-4, WD-8, Fyzabad, and Balata East).


TSX:TXP - Post by User

Bullboard Posts
Comment by Espanaon Oct 13, 2020 5:48pm
199 Views
Post# 31711370

RE:RE:RE:Chinook Prospect Size

RE:RE:RE:Chinook Prospect Size

Goaweigh,
   There are 5.615 cubic feet in a barrel X 7758 = 43561 cubic feet in one acre one foot thick.
You remember we used 43560 as the conversion to cubic feet for gas for one acre.
One acre is 43560 square feet.
The reason for the difference is that it is customary to express oil in barrels and gas in cubic feet

Oil
7758 * Y(acres) * Z(feet pay) X .17(porosity) X .75 (1-.25Sw) X 0.9 (shrinkage) X 0.2 (Recovery factor) X 0.8 (TXP share) =  million bbls recoverable TXP share.

Gas
43560 * Y(acres) * Z (feet) X .17 X .75 X 300 X 0.7 X 0.8 / 1000000000 = BCF recoverable TXP share.

Slip in numbers for Y (area in acres) and Z (pay in feet).Your guess is as good as mine.
Remember numbers for porosity, water saturation, FVF etc are not "written in stone"..... actually there are written in stone but we have not yet read the Chinook book.

Hope that helps

Bullboard Posts