Touchstone Exploration Inc T.TXP

Interview with Paul in the papers....

[Proselenes]

Some details.

Coho 10 mmscf/day production by end of February 2021.

On current discoveries Paul is looking for 100 mmscf/day and 2000 barrels of condensate per day production by end of 2021.  (Casca/CascaDeep/Chinook).

If Royston successful then adds another 100 mmscf/day to that (plus any condensate if wet).

Loads of upside to come in terms of more gas to add to the 1 TCF figure - with more exploratory drilling.

5 to 10 year drilling program ahead...one which will be self financing......

Nice interview.


https://www.stabroeknews.com/2020/12/25/news/regional/trinidad/trinidads-touchstones-ortoire-block-could-have-one-trillion-cu-ft-of-gas/

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[Chreca1]

I found this to be the most intriguing part: “Without saying to much, it is fair to say we are talking to not only Heritage but other operators on the island as well and taking what we learnt in Ortoire, we think there are some opportunities, so we’re having some very open and positive discussions for sure and Heritage is just one of those parties.” Baay told BG.

[Proselenes]

Rio Claro to the North......(under Lease Operators Ltd - LOL) immeadiately springs to mind. Perhaps a TXP farm into a couple of wells there........ LOL get a free carry on the wells and TXP get 60% of any discovery.............. TXP know what they are looking for...........LOL get a free carry to potentially significant gas discovery........ win win..............

[Davidblackgreen]

And their licence commitments would move a lot closer to being met. Also Heritage probably wouldn't object to having a partner with "A wall of cash" to proof up their assets.

[Taffypalmer2014]

I especially am excited about the sentence saying Royston could double the production to 200 MMCFD from 100. He has said in the past that Royston was big but double the existing finds is huge.

[Goaweigh]

If successful I suspect Rotston will do a lot more than simply double production to 200 MMCFD. The first 100 MMCFD is 3 wells at Casca/Casca Deep/Chinook @ 30 MMCFD and the remaining  10 MMCFD comes from COHO. Paul also said he believes Cascadura and Chinook can support 6 to 8 wells each so that's an additional 9 to 13 wells and if each were capable of 30 MMCFD that would mean an

[Chreca1]

LOL, already made a discovery all by themselves north of Royston somewhere, but sure they may be one of the discussion partners here, though I hope it's one or more of the Majors that has reached out to TXP in testing the water there so to speak.. 

[Proselenes]

LOL have got a small oil field in their license area. However, drilling these deep wells for gas costs money, and its something these small companies do not have. So a TXP farm in and giving them a free carry on drilling costs would be highly attractive in my view. Could be a multiple party farm in scenario........where say Shell and TXP set up a JV.......and that JV then goes around the small

[Chreca1]

I can't remember where I heard it, probably one of the Geo-tak webinars saying LOL did a drill similar to TXP's and it turned out succesful most likely gas not oil but don't think anymore details were ginven than so, but I got the impression it's a significant well and a significant discovery I think in late 2019 using the same rig as in TXP's Ortoire wells. That article

[Proselenes]

This was the article.  But nobody knows if they hit oil, or gas.  There has been no talk of production since........so it might have been a "technical success" but non commercial ? https://www.valuethemarkets.com/2019/08/01/touchstone-exploration-has-the-neighbouring-operator-just-made-a-significant-discovery-txp/

[Chreca1]

Yes that's the one, and not much info out since but I remember X.Moonan or someone else mentioned something more about it but not much in some talk earlier this year, but still we don't know if it turned out commercial or not from what I can remember from those commments. But still indicates the hydrocarbon trend continous up further away to the east/north-east from the Ortoire block. I

[Davidblackgreen]

Two holes one was a success, as to its commerciality? https://www.searchanddiscovery.com/documents/2020/11293moonan/ndx_moonan.pdf But clearly not a blow away success and at $5m a well no follow up as of yet.

[Goaweigh]

Commerciality is a tough one, if COHO had been our only successful well would it be commercial ? Would we have had the financial resources/willingness to pay for a pipe to bring that gas to market, would the Gov have paid for it ? I suspect Cascadura/Chinook provided huge leverage when it came to negotiating the connection at COHO and LOL may not have that leverage until they hit something more

[Davidblackgreen]

The issue became for LOL after those two previous deep wells, "Do they want and can they afford to spend $1m on seismic and $5m on a drill"? If it came in with oil or gas then no problem but if it didn't what then? Would they be essentially a zombie company or worse bankrupt with TXP or an other picking up the whole thing for cents on the dollar? So here is a mad thought from

[Chreca1]

Yes, Coho been deemed commercial and the tie-in would have been relatively easy and cheap (given the Carapal Ridge facilites nearby) for TXP and Heritage and very achievable finacially it seemed but we won't have to worry about that now after The Deal. When it comes to the surrounding blocks, I think Paul once mentioned there is some hefty financial commitments built into that Rio Claro

[Davidblackgreen]

If Royston comes good now is the time to cut option deals with all the locals and also UK listed Bahamas Petroleum who are financially over extended. Post that drill if it's successful there could be others interested. Just a bit of Christmas joy from Germany the stock is up 8% on low volume as it's a business day there. So who know?

[jake1444]

  Do you recognize this post? "No one ever said the end of 2021". Well, looks like you typed those exact words in this post. 

[Proselenes]

Thats was last year.  Talk about scaping the bottom of the barrel........ Much has changed. The latest updates by everybody said end of Q2 2022.  This was clearly said a month of so back..........

[jake1444]

You got caught mouthing off and now you are embarrassed. It's ok pumpkin.