Touchstone Exploration Inc T.TXP

2022 drilling plans ?

[Proselenes]

What are the expectations for drilling in 2022 ?  My guesstimate is as below :

Q4 2021 sees 4 wells drilled in the South West oilfields and 1 well drilled in Ortoire (Royston).



Q1 2022 - I would expect a continuation of drilling in the South West - with another 4 development wells drilled so 8 new wells in total (4 Q421+ 4 Q122).  This keeps the new Canadian rig busy.

Q1 or Q2 2022 - Coho-2 development well.  Could wait and use the new rig, or they could use one of the other rigs on the island to drill this well.

Q3 2022 - Two rigs in operation after Cascadura online.  Cascadura development wells for one rig.

Q3 2022 - Exploration phase 2 kicks in (Steelhead / Guabine / Krakken) with other rig.

Q4 2022 - Completion of Cascadura development wells and maybe drilling of Royston appraisal well so ending 2022 with maybe Royston online from 2 wells and Cascadura from 6 wells and Coho from 2 wells (Circa 300mmscf/day plus liquids)

Q4 2022 - Completion of exploration phase 2 drills (Steelhead / Guabine / Krakken)


(There is the potential of a deep well in the South West oilfield area - however that may not be until the new onshore license round is completed in 2022 - to avoid giving any new information to competitors who may bid on licenses wanted by TXP)

[Margin321]

Great compilation. Wonder only about possibility of 1 or 2 up dip wells at Chinook and maybe a Cruse lateral at Chinook. Apparently Chinook site will be covered by the Cascadura devlopment plan (pads are 1.3 km apart) so they will be able to drill Chinook wells as soon as that plan is accepted. Agree any Royston development wells will be 2023.  Once they get pipe to Cascadura they will want

[Proselenes]

I believe any Chinook wells will be 2023 at the earliest.  They have too much going on for 2022 already, so Chinook is going on to the back burner until 2022 work plan is clear.

[Margin321]

Maybe so (chinook 2023) but i is nice that it will be covered by the Cascadura development plan so they can drill Cruse laterals and up dip Chinook wells looking for oil essentially any time they choose after Cascadura development plan is accepted.

[Davidblackgreen]

Time to focus on cashflow to set the company up for a wall of drills hitting the ground in 2023. The Cascadura hook up should be their first, second and third priority.

[Margin321]

Agree totally, Coho all set to come on-line without much more attention - but is small. Focus should be on Cascadura which is huge.  They can drill the 4 development wells on legacy side to meet commitment but that won't add very much cash flow. The Coora deep test is good. They can drill one Coho development well. And of course they need to finish Royston and hopefully test it if it is a