Touchstone Exploration Inc T.TXP

Monday trading in Canada and OTC in US will be interesting

[Margin321]

Monday trading in Canada and US will be interesting.  Market is closed in London Monday so there will be no overnight trading in London to set the tone for the Toronto and US OTC opening in the morning.  

Events in the  bigger world (economically and geopolitically) could set the tone of course, but energy sector seems pretty resilient for the short and intermediate time frame and TXP should participate as  long as TXP starts to ramp production.  Next few weeks should demonstrate that they are executing better.  I can see three good things.  1. Coho on line.  2. Cascadura field development plan accepted.  and 3. Firing up the Star Valley Rig and beginning a continuous drilling program.

Paul could talk about all of those in London in late May and he could lay out the drilling sequence for the next few months and give the rationale.  It will start with two Coora wells.  Then off to Royston pad but will they just do the Royston 1-ST or hopefully will they also drill Royston Deep and Kraken while they are there? Then hopefully back to drill Coho 2 which should be a quick win.   Meanwhile the Cascadura B pad will be developed and they could hop to that new pad and drill four wells.  If Casacdura B pad  isn't ready there are other options like a few more development wells on legacy lands (maybe including a deep Hererra test there).  Or they could knock off Steelhead and Guabine.  Or they could do two Chinook up dip wells.  At some time point (likely late 2023)  Cascadura C pad will also be ready and there are four more development wells there.  After that the development plans for the Royston field should be more clear - and  for Kraken (god willing) and maybe for any discoveries on some of the other prospects they are drilling in the second exploration program including Steelhead,  Guabine and Bass. Lots of steps  to get to details and approvals for next field development plans after Cascadura.   But once they get started that Star Valley rig has lots of work and will keep the  flow of news going and hopefully set the stage to keep flow of oil and gas growing.  Story is still intact, in my opinion.

There are challenges and there have been frustrating delays. But the story is intact. The geology is better than they expected.

[Proselenes]

I think there is potential for the drilling order to change.......depeneding on how the 3 Royston wells get on (ST and Deep and Krakken). At this moment in time, Ortoire will be online with 100mmscf/day of gas by end of 2022. However, gas is "low profit" for TXP with current oil prices. So.......why bother drilling Casca B and C ?  That means more spend on production facilities

[Margin321]

thanks pro! Csn a development well go directly on to EWT?  Don't forget if the do not have a field development plan at for royston, the have to get separate approvals for every new drill pad and well. That can take a long time too - and I don't know that the government would approve development of the whole field one well at a time. There eventually needs to be some collecting

[InsideEnergy]

seems you want to gamble on oil and gas prices .. that is plain dumb.  you first comment on the low gas prices, they signed for, as gas prices are on fire, yet you then suggest they look for oil to produce thru test volumes? test volumes is no way to run a company.   there is one mega poster here that pumps and gives very bad adice, like gambling the company on commodity prices while

[InsideEnergy]

so margin, what was this interesting trading on Monday?  I must have missed anything interesting.  are you saying they will sidetrack a well already in pay?  would not the sidetrack not have depth for the build and then into the lower reservoir?   I would very suspicious of anyone promotong a side track from a producable reservoir just to get a couple hundred more barrels

[Margin321]

Monday trading (canada opening without overnight London trades due to different holiday schedules) was not eventful.  Redponse to Josef Schachter's 2 minute blurb was prett impressive. Sidetrack plan for Royston one has been publicly disclosed by the company. Makes total sense since the well bore is full of junk. They will sidetrack at about 7000 feet, by pass all the junk, and produce

[InsideEnergy]

margin, 500 bopd and no water?  where does that fantasy come from?  making it up I bet

[Margin321]

See  RNS of November 8, 2021  plus multiple news releases and comments since then. The intermediate zone had no water. Only 30% if it was tested with tubing designed for gas with liquids (like cascadura). It flowed up to 360 bopd (no water) and the bigger recompletion from Royston 1-ST using tubing designed for oil well has been estimated by company to flow 500-1000 bopd. "The

[InsideEnergy]

just do not see any evidence of your ...up to 1000 bopd..what a puumper post.  I am pretty sure your insight in the oil completions is about zero.. and to even think a short test after allowing the prssure to build to max is any indication of the producing capability is pure nonsense.  usually a test is much higher flow rates than production rates... that well will give a year one

[InsideEnergy]

obviously uou do understand the benefits of  a horizontal vs vertical.. no surprise. it has nothing to do with a tight reservoir, in fat most horizinatls are into sands that are n ot tight.  what you want us high production... simple really.  a vertical will drain a certain area around the well bore, a  ceratnin amount of meters in a circle.  what you get in a horizontal

[Margin321]

IE you are a piece of work. I am about to tire of you altogether. The geometry of the Bakken and many other shale plays is horizonal relatively flat areas of pay that extend horizontally for long distances, often miles or tens or hundred of miles. The geometry of the layers determines where to place the horizontal pipe - the fracking just opens the shale to flow better and extends the circle of