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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

Comment by Chreca1on Dec 28, 2020 3:31am
282 Views
Post# 32186498

RE:RE:RE:RE:RE:RE:RE:RE:RE:RE:Interview with Paul in the papers....

RE:RE:RE:RE:RE:RE:RE:RE:RE:RE:Interview with Paul in the papers....Yes, Coho been deemed commercial and the tie-in would have been relatively easy and cheap (given the Carapal Ridge facilites nearby) for TXP and Heritage and very achievable finacially it seemed but we won't have to worry about that now after The Deal.

When it comes to the surrounding blocks, I think Paul once mentioned there is some hefty financial commitments built into that Rio Claro licence agreement in the form of de-commissioning costs or something like that so not very attractive to go there at least not in the near term that was my impression at least of his comment (whatever that is worth?).
The license just south of Chinook/Casca is 100% owned by Heritage after their JV parter got kicked out after messing up big time over there.
Then there's Shell's Central Block to the west, and Balata East (also Heritage 100%) inside the Rio Claro block.
Then there's St Mary's a bit further to the west owned by the Chinese company LandOcean as far as I know.
That's about it I think, or any other blocks near Ortoire that I'm unaware of that could be up for grabs here you guys think ?

But should add, given the small size of TXP and it's 80% commitment of the already significant exploration inventory identified on the Ortoire block alone, I'm not sure how tempted they are to add any more acreage at the moment unless on very favourable terms...or maybe partnering up with one of the (Super)Majors with TXP contributing their by now vast geo knowledge of the area and in doing so commencing the first initial step towards a complete takeover of TXP by that potential JV (Super)Major partner later on in the maturing process ???

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