RE:bub, slow it down
There are some correct facts there but a lot that is misleading. Style is distinctly wildcatter and I already have him blocked twice. This account has been open all of 3 days, and all the 7 posts are here. And he obviously has been following the story awhile.
First of all TXP cannot choose to sell the gas, they already have made a deal . NGC is building gas pipelines to well heads and once it is in their pipe it is theirs to deal with.TXP does not need any natural gas processing facility. What they do need is to separate the liquids, store that in tanks initially and truck it, obviously as soon as possible hook up their own pipeline extensions to the oil pipeline which transects the Ortoire block as well, more in a southeast to northwest direction as opposed to the the south east to northwest direction that NGC main gas pipeline (a massive 30 incher) takes. The two pipelines (NGC main oil and NDC main gas) cross right in center or Ortoire block, on a line connecting Royton Well with Carapal Ridge (which is just south of Coho).
Second there is no lack of choices of what NGC can do with the gas. They can use it to run the power plants (100% of electricity on Trinidad comes from natural gas plants). Or they can export it as LNG. Or they can sell it to the plants that make ammonia and fuel other petrochemicals.. Ammonia and other nat gas based chemical plants in many parts of the world are not economic at current local nat gas prices and are being shuttered. Triinidad has big advantage with cheap gas and can provide jobs and boost economy by using all the gas to mkase stuff they can export. .
TXP also also does not have to do any equity raise for $100 million. They should park the Well Services rig at Royston and run the canadian righ to do the ocmmittment wells. They should not use the Well Services Rig until Cascadura is hooked up, then use that to drill development wells at Cascadura and at if warranted Royston. Then when wall of cash is coming in, run two rigs with one doing the next three exploration wells, likely the Wells services rig for that but not certain.
I'll know by the answer (if any) if this is Wildcatter or not. Does anyone know if it is. (other than the poster with the new account name).