RE:Touchstone's 2020 NI 51-101 Reserves at 64.94 MMboe P+P Lurk & Learns +Ginmunger + Bully1985 +Sansam17:
If we revisit the above News Release, before reading this it might be helpful. Then,
If you click on the Stanley dropdown "View Bullboard History" and navigate to my March 5th post ending with #769; and scroll down to the Drilling Rig Contract, we might want to review the topic "Drilling Rig Contract" and re-read the paragraph in its entirety.
My point here today is a reiteration of the (TWO) stratigraphic horizons being targeted in the area of the "Legacy Assets" most recently being discusses wrt CO2 enhanced oil recovery (EOR) at the last presentation.
In this post I highlighted my reason to be optimistic for the "third rig" capable of drilling down to 18 000 feet. Point being, in your DD, you may want to determine if Touchstone presently/already have "shallow drilling" (horizon??) capability to handle the ~200 targets already indentified.
What I am attempting to reiterate (once again) is once the Royston complex is drilled to depth(s), and before any further deep drilling in the Ortoire Block (the 21 possible targets) the Canadian deep drilling rig capable of drilling to 18k ft, is not consistent with normal deployent protocol. i.e. would be like "taking a knife to a gun fight".
Point being, there could be a potential to establish a new oil field in the area of the Legacy Assets but at a much deeper horizon, at a depth possible with the third rig in H2.
BWDIK? From a Planning and Scheduling perspective, the environmental footpront, of Ortoire's greenfields (Jungle\forest) versus, brownfields of Fyzabad & Forest Reserve, might provide TXP the spin-off option/opportunity of "selling" Ortoire (c\w ~ 20additional target "blue sky") and a reversion to the "Legacy Assets" area, but this time (~50 years ago) with the latest deep drilling info, at a time when gas was not saleable.
For some serious DD, we might want to consider, the regional stratigraphic evolution (Venezuels to the Guyanas) in order to fully understand this potential "updade". IMHO, alluded to in the most recent XM video that I posted.
Stay Safe
GLAP - GLTAL
Cheers
Stanley