Waiting
Right now everything is about waiting. No hookup is in sight for Coho. No development well is planned at Coho. The timing of the NGC spur to Cascadura is totally unknown. There are no development wells planned at Cascadura. The best we can hope for from Chinook is pretty good evidence that up dip wells might be productive. But those Chinook up dip wells (if indicated) are a couple of years away.
Royston is moving ahead. That is very good. But it would also be good to balance activities that will bring in cash with the activities that are expending cash. I just would like to see a little more sense of urgency from TXP but also from NGC. They have to get these two discoveries (Coho and Cascadura) into production.
Paul is talking again in 5 days. But talk cannot move the shares. Only execution on some of the items in play. I don't think words can impart any sense of urgency at this point.
Maybe NGC has started construction on spur to Cascadura. If not why not? Maybe plan for Coho has come together. If not why not?
Maybe development wells at cascadura are permitted. If not why not?
Maybe they have a more solid timeline on arrival of the Canadian rig. If not why not? Maybe they have learned something at Chinook? If not why not?