Guyana sized discoveries Onshore Trinidad..........read on.. As its a Sunday and I have some free time I thought well, why not lets get more into this "Cretaceous" below Royston, or indeed, below Ortoire.
If you care to chat to TXP's geos, they will tell you they are massively excited as the Cretaceous below Royston appears to be very very thick and also unbroken. Guyana "Liza" sized potential, but onshore Trinidad???????
Why are some people who are looking past the trees (Cascadura, Royston, Coho, Steelhead, Gaubine, Chinook etc..) to see the big fat Wood excited about something that is currently not drilled yet.
Why is a highly successful investment guru holding near 3% of TXP and talking about TXP and Ortoire being the next Guyana potentially ? Why is XM so very very excited about the Cretaceous below Ortoire.
Well, there is a trend, which with latest drilling results is proven, running down from Trinidad to Guyana to Suriname........potential big fat full of oil Cretaceous reservoirs.
Just like all the dry holes put into Guyana and Suriname and in the past Trinidad - its taken a long time to work out the keys to the geology and where to drill to find these Cretaceous reservoirs. The North Sea had dusters galore before they found oil.
Its been a long held theory that they exist in Trinidad, just like they have been found offshore Guyana and offshore Suriname and could be onshore Trinidad.
But as is said - anything found onshore is worth 5 times the same if offshore due to the costs of offshore. So a billion onshore recoverable barrels has the value of five billion offshore recoverable barrels in very simple terms.
Here is a research paper, written in 2014, on the potential for these massive oil bearing Cretaceous reservoirs being in Trinidad.
And you will note, in the summary findings - where the writer thinks they are - which happens to be Ortoire license area. The overlapping of the red and green areas.
https://www.searchanddiscovery.com/pdfz/documents/2014/30373thomas/ndx_thomas.pdf.html And now, here we are, seven years later, with the very latest seismic showing that the Krakken, despite all best efforts to rule it out and say "its not the mythical multi billion barrel Cretaceous reservoirs that everyone has looked for for decades onshore".............now appears to be even stronger than ever based on the latest seismic and now also the Royston drilling results being hydrocarbon bearing.
So yes, I am looking far ahead. Looking to what might be, and that might be worth tens or hundreds of todays share price.
In the meantime, its all about delivering a successful production and exploration company, and with Coho and Cascadura on line soon, with lots of development and appraisal to be done on Cascadura, Coho, Chinook and Royston......and with lots of exploration to come with Steelhead and Guabine among 20 others, as well as South West legacy drilling and the deep Herrera there....... and that alone should see the share price north of 5 pounds before the end of 2022.
BUT.......there is something very much bigger potentially, which could be utterly transformational for the company and the share price. That is the onshore Ortoire license area Cretaceous.
And thats why I have a lot of TXP and am very happy holding and waiting to see what 2022 and 2023 brings for us shareholders. No trading, no profit taking, just keep on accumulating.
Roll on the Krakken drill in 2022, which will happen 8 years after that research paper was written - finally we may see what the enormous Ortoire Cretaceous holds......
And if anyone thinks this has not been planned.........why do you think a new rig capable of drilling into the Cretaceous is now in Trinidad and under contract to TXP for three years at least. Its all quietly ticking along without highlighting it too much - as its so big - most people would think its ludicrous to talk about it......they will scoff at it and laugh.........but they may all end up with egg on their faces if Krakken delivers.........and I want to be holding the golden tickets, lots of them, when the drill happens.