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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 Margin321on Dec 31, 2020 11:06am
196 Views
Post# 32203326

RE:Pipeline

RE:Pipeline
Rough timeline only - anyone can correct.

1. Chinook testing results , before Jan 14.

2.  Jan 14 - Paul Baay conference in London.

3. February - Casca Deep testing results

4. March - Coho well on Line to sales (maybe 10 MMCF/day)

5. Early April - Royston well spuds

6. May - preliminary Royston results.

7. June or more likely July - Royston testing results (if a discovery)

8. November or December - major production from Cascadura and Chinook (maybe 80-110 MMCF/day). comes into production and revenues really start to ramp

Other items: Development wells at Cascadura and Chinook,  maybe a well testing the deep zone at Cascadura (Likely with the bigger rig after Royston well is done, though there is no hurry to test the deep sands at Cascadura right away).  Also they will lay out a mixed plan to do development drilling but also the sequence for a couple of more discovery wells.  They might start drilling shallow light oil wells again off to the east on their legacy light oil properties (that could be THREE rigs going). They might announce a deeper well on the east side of the island to test some of the deep sands there, probably not to be drilled though until 2022 at earliest.

There also might be some JV developments on land adjacent to the Ortoire block as Paul indicated there have been some discussions. And maybe shell will swoop in with an offer for TXP,  thoough I think the NGC contract relieves a lot of the pressure to finance pipelines and facilities and therefore they can run up to a much bigger operation all by themselves.

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