Touchstone Exploration Inc T.TXP

RE:Touchstone's 2020 NI 51-101 Reserves at 64.94 MMboe P+P

[stanley]

Lurk & Learns:

Just wanted to alert those disappointed with the NR and those who lost their (Whe Whe) bets that the "NI 51-101" in the above title carries with significant constraints wrt reporting parameters.

In mining circles (post BreX) the equivalent is the National Instrument (NI) 43-101. Worth the read, especially on a sleep challanged night. (worrying why PB did not comply\conform with the expectations (aka pontifications) of what I call "experts without O & G experience")... But I digress.

Some over at ADVFN are still citing the IG margins overhang/hangover as one possible reason for the "sell on news" over on London. Meaning, some speculators buy on margin as they expecting news that is (on balance) positive.

The shorts on the other hand on not seeing the positive reaction/response to yet another delay...bet against the PPS appreciation.

Now, would a company have some "dry powder" in light of the GameStop takedown? The Covid gamblers moving their addiction to the stockmarket (appears) to be using board based\herd (Reddit) to do their repliclation. Some of their targets have been pretty brazed. Meaning they may not realize the upside; but herd mentality preys on the desperate. 

That being said..Proselenes and others have posted the quick reaction(s) (aka opinions) of SP Angel (see especially the "tone" of the concluding paragraph), Shore Capital and Beacon Securities.

As "reliance on experts" while waiting for Hydra's take can provide some level of comfort for those who understand the vagaries of Critical Paths (CPM) especially when your path is being impeded (aka dependent on the timeliness of others). NOTE: In addition to my speculation of deep drilling potential in the Legacy Assets (and thanks for the kudos)...my other HUGE CPM adjustment is when PB decided to let (pseudo JV partner) NGC take the lead on approvals. I would speculate that despite the "first in 20 year" reasoning re Coho re Covid; other (historical) obstacles to expedience might been at play. BWDIK? There is a calypso for that also. LOL

Anyway, Lurk & Learns might benefit from an interpretation of the term "up dip" that appears to be confounding (to the point of confusion) others on another board.

To try and bring some 3D perspective into the discussion, (grab a Java) and I'll refer you to the same presentation:

TXP October 2020 Corporate Presentation

Using the following steps:

1. Migrate to slide #9, tab over to graphic representation (aka section) on the bottom right, I had to magnify to 300%.

2. Learn/review the legend (1,2,3,4 & 5) and locate all on the section (schematic representation... aka "cartoon").

3. Note the two(2) traps.. oil and gas. (now you might want to do a YouTube search for oil and gas profiles in an anticlinal structure). Note that the crest is not\never as illustrated in a perfect scenario.

4. The conumdrum here is the resolution of the term "up dip" in an deep seated paleo depositional enviromnment. See also earlier slide on the techtonical evolution of the target(s).

5. Google (or YouTube) Strike, Dip, Apparent Dip (and rake), etc.

6. Now go to the Slide #12 and find the Penal Barrackpore(PB) Anticline. Here the grey two headed arrows in the legend indicates "anticlinal trends". See if you can draw any inference "across" to Chinook.

7. It is at this juncture some of us able to envision a bed being pushed up against a static/resistive force formation .. resulting in the PB anticline....hence CEO PB citing the Carapal Ridge reference.. as regional structures tend not to respect arbitrary lines\boundaries on a surface plan...and call the bid block Ortoire.

Conclusion... some of us spend years in the interpretation of seiemic data and consider any and all historical drill hole data...with a view to optimize a (current) exploration strategy... and still get it wrong..

Because while the present day tools for deciphering (x, y, & z 3D coordinates) an optimal DDH collar is more advance than the original drill logs, targets can a d WILL still be elusive.

Likes are nice...if you see a "teaching moment" here

GLTAL - GLAP
Cheers
Stanley