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Touchstone Exploration Inc T.TXP

Alternate Symbol(s):  PBEGF

Touchstone Exploration Inc. is a Canada-based company, which is engaged in the business of petroleum and natural gas exploration, development, acquisition and production. The Company is active in onshore properties located in the Republic of Trinidad and Tobago. It operates Trinidad-based upstream petroleum and natural gas activities under state exploration and production licenses with the Trinidad and Tobago Ministry of Energy and Energy Industries (MEEI), Lease Operatorship Agreements (LOAs) with Heritage Petroleum Company Limited and private subsurface and surface leases with individual landowners. It is focused on onshore oil and natural gas properties located in southern Trinidad. With interests in approximately 145,000 net working interest acres of core exploration and development rights. Its core focus is on exploration and development on the Ortoire block and development production on its five onshore lease operatorship properties (CO-1, WD-4, WD-8, Fyzabad, and Balata East).


TSX:TXP - Post by User

Comment by Margin321on Mar 23, 2022 7:58pm
162 Views
Post# 34539798

RE:When do they drill a Royston development well? What kind

RE:When do they drill a Royston development well? What kind You have to follow the story a little closer. Royston Deep will be drilled as an oil well. It will better delineate the intermediate zone and will explore for the first time the sub thrust. Then it will be put on long term flow test with the exact strategy depending on increased information from the intermediate zone and new information on the sub-thrust. 

After that will come Kraken, which will drill through those zones and for the first time will explore the cretaceous deep analogue of some of the Guyana/Surinam trend. 

Those three wells will set the stage for a development plan that will be the basis for the development of the Royston Field and possibly the Kraken reservoir if there is a discovery there. Planning the development wells and supporting facilities will be done in 2023 and full scale Royston (and maybe Kraken) drilling will probably be a 2024 activity. 

Rest of 2022 will be to get Coho and first two Cascadura wells on production, and 2023 will be full out development of cascadura field and ramping production from that field to 200 mmcf/day of natural gas and 6000 barrels of liquids.

Meanwhile lots of other stuff will be happening, further new exploration wells, legacy well drilling, maybe a deep legacy test at Coora, maybe a second Coho well. 

Follow the story. It is a good one. The honest assessment of the Royston field will become more clear as they gain additional important data. 
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