Proving the PlayDo not the recent results indicate that resource is there and recoverable.
I would love to see information about the Cascadura field resesavoir: pressure recovery, permiability, etc.
The latest well results show that these formations include recoverable crude oil. To me this implies that Gas will pay the bills and Oil is icing on the cake. I am excited to see how this affects reserves and what the drilling information tells us about exploiting neighboring fields.
It seems like the failed Trinity acquisition is proof that this formation has more potential than indicated by the stock price. I believe that the buyers of Trinity are not dumb, but that they realized that there is value in this formation now that Touchstone has proved that the Oil and Gas can be extracted.
Since I inherited these shares from PetroBank bust I have a no risk investment, having written off the loss years ago. I am hoping that after a coulpe of more wells we will be able to run the rig 24/7 and realize the potential of this play. Sitting back and watching and waiting for developments.
GLTA