RE:Drilling........22/23/24
Something for the Left Field.......
When you look at all that drilling in Ortoire and so much to do there, you do wonder......when Coho is online in May, which doubles TXP production, and with Cascadura EIA approved will TXP look at divesting of the Legacy oil fields ?
With so much work to do, they could divest of some, or indeed, all of the Legacy oil fields. Production would remain the same, eg Coho doubles production then halved with divesting of Legacy and TXP get a solid cash injection, reduces operating overheads, especially with current high oil prices allowing a very good price to sell it off.
So a reduction in overheads, instant cash injection to turbo charge drilling in Ortoire and a complete focus then on Ortoire only - until possible new licenses are added.
I have been wondering why Coora drills are held up, and this could be the reason, a streamlining of the business to focus on Ortoire and all the massive production and exploration potential there.
And I do not........one company desperately in need of an excuse to raise money and buy some producton in Trinidad is CEG (who have people like RAB invested in them and desperate to recover some of their losses).
This from the recent CEG update, is there a deal about to come out with TXP getting a lump of cash to divest of the Legacy assets ?
[url= https://www.investegate.co.uk/challenger-energy--ceg-/rns/activity-update-and-work-programme/202203230700046734F/] https://www.investegate.co.uk/challenger-energy--ceg-/rns/activity-update-and-work-programme/202203230700046734F/[/url]
..........M&A
As was noted in the Notice of Extraordinary General Meeting sent to shareholders on 9 February 2022, in addition to work designed to enhance and grow organic production from existing fields, the Company intends to pursue value-based, production accretive acquisition opportunities, as well as seek monetisation opportunities for exploration assets.
<b>To this end, management has intensified its focus on a number of potentially complementary opportunities in Trinidad, as well as various farm-out type opportunities. At this time, the Company is engaging in initial discussions and early-stage due diligence, and will provide updates, as applicable, in due course..................
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