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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 exponential1on Mar 16, 2021 10:01am
180 Views
Post# 32806703

RE:RE:A question to the wise re: oil flow test on 2nd zone.

RE:RE:A question to the wise re: oil flow test on 2nd zone.It sounds like they perf'd the sub thrust zone and got some oil shows with a majority of water, no mention of if it flowed or just swabbed but assume it was normally pressured and swabbed, being primarily water they abandoned and moved to the second next zone higher.  This still tells us we still have potential oil updip in this lowest subthrust sheet if we have structure elsewhere.  Back to the second, don't know if this is also another sub thrust sheet.  But I think we can conclude the well was capable of flowing significant oil and gas (unknown if water present).  I would assume T&T has regulations limiting the flow of significant volumes of oil and gas to a service rig tank.... due to methane being 25x worse than CO2 for GHG's and not safe in significant volumes hanging around a lease with sparks present on lease hence Paul mentioned they are planning to test with the tester which will contain and separate the fluids and send the gas to flare and liquids to tanks...all done safely.  So yes good imo, don't know how good until we get flow rates, pressures and compositions...  But I think he did elude that there was up structure potential for this sheet as well.  Plus they still plan on testing the higher thrusted sheets which he believed they were more gassy pay (I assume based on mud gas logging while drilling and the cross over/approach on the logs).  If the zone was poor productivity and significant water as well and couldn't flow on it's own they would have continued with a swab test with the service rig to establish inflow rates and oilcuts.  So again yes...this imo is good.  But keeping in mind we may not be in the ideal structural point for this zone and it could flow oil for 1 day and turn to water and die.  But then we'll know an oil down to elevation and Xavier can focus on mapping this zone separately and move upstructure, and being sub-thrusted it should be more latterally extensive.  I'm continuing, just added another 12000 shares. 
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