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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 Goaweighon Jan 05, 2021 2:08pm
339 Views
Post# 32225133

RE:RE:RE:RE:The last Independent reserves evaluation was as of

RE:RE:RE:RE:The last Independent reserves evaluation was as of Ok, got that and Thanks, so once we flow the 2 C's those can be upgraded and I presume that will be done in a timely manner. And the same with Royston, we flow it and GLJ will proceed with their evaluation right away. In other words these are performance driven reports, they aren't calandar driven, so when we make a discovery that's deemed material and it flows, we should get an updated reserves number or whatever fairly quickly.
Don't mean to belabour the point but I suspect analysts rely on these reports so the faster we can report our reserves are growing the faster they'll be able to upgrade our stock price.
Thanks again.
Looks like XM's suggestion of a potential 3 TCF ( 3 times our prior thinking) is making impact.


Taffypalmer2014 wrote: Yes the only reason that the 2 C's can not be assigned proven non-producing reserves and only probable is beacause they have not been tested by year-end. As soon as we get a well test to show the well produces gas and not water or uneconomic flow rates, GLJ will re classify the reserves to proven non-producing and TXP will ask for a reserve report sometime soon after the test results are known. Same with Royston probable reserves from the well logs but not proven until there is a well test. As soon as the well are tied in and on production they will again be re classified as proven producing. 


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