RE:RE:RE:RE:RE:RE:Boxing Day sale extended to January really, you know this?
horizontals huh? well seeing as the deepest zone has such a deep productive reservoir why bother, they can get plenty of drainage from depth alone, no? they never have drilled one horizontal and I suspect have zero ability to drill a deep horizontal well..but given the depth of the zone any fool ,should be able to keep the string within it. regarless of that liitle gem you put out... what about the water, or more of concern the salt in the water.. with a big water cut, probably 60%+ and being hi pressure the water will enjoy a free escape route, as it is much better to flow thru rock than oil is,, but salt in the water this is hi salinity and that is BIG problem... do you know, of course you don't, the effect of salt water on the pumps and pipes and filters and seperators...salt will eat that stuff alive, In short term too, the amount of equpiment they will go thru will be costly right away. so allow for the cost of getting eqipment onto the island, yearly down hole repair and yearly surface repair, oh, and all that sludge, the salt water cobo that is left over is not injected, it must be removed and in a jungle that means a better two way road to handle both oil and sludge removal, and where does this toxic sludge go?? huh?? well in canada or the US it goes to a big burner,an incinerator, where oh where will it be disposed of in Trinidad? will they be allowed to dump it in an eco friendly jungle, nope.
in the end, this will without a doubt in my mind, be the highest cost oil on the planet.
so txp will have the lowest priced gas @2.50 and the highest cost oil in the world and that sounds to me like a bad investment thesis to start with. so yes wait for them to drill a few more wells? to test royston... but they ain't got the money to do that and if you look at the end result I see, too high of costs and too low of selling price and too high of royaltyies. only a true txp lover would not run away from this company, always promises that never delivers, one good well out of 5 is not really a great track record nor is Bay really a good ceo. you guys are in love with this story and just refuse to see the actual issues they face.
seems to me this stock has been a lousy own. few sold out on its first run up after cas1 where there was money here, now holders are losers and the longer you hold the more you will lose I suspect.
yes the lowest rev for natgas, the highest cost oil, high royalties and hi general costs for working on an island make this a bad choice as a oil ,play or gas play, in fact it is a loser for sure, I see no upside unless the next well, if there is a roy2, is a barn burner of a well. Dream on folks and maybe get educated about the oil and gas bizz before losing money playing the stocks in a bizz you have zero knowledge of
holding this stock was a very bad decision when we just has a fantastic year in the patch, many multi baggers but txp is down... making you holders bag holders in a massive way. yep you all are bad holders.. good luck suckas