Touchstone Exploration Inc T.TXP

Deepwater Blocks

[Dow20000]

Out of 17 Blocks offered by T&T auction, their were only 2 bidders,Shel and BP received 4 Blocks out of 17, there were no other bidders.What is the matter with our CEO,No balls.

[InsideEnergy]

txp has no money to bid on offshore blocks and certainly not the money or brains to drill offshore wells.. my goodness, these dimwits are still trying to hook up a gas well that is only hundreds of meters from connecting point. and over two years later, still no gas flowing to sales  and you think these guys could out down a drill offshore?  not likley ...lol

[RHertig]

What are you guys smoking? 120 to 140 million to drill an exploration well. We wouldn't even have the cash to get to the drilling point. We are right where we need to be affordable wells on land. The Kraken well will have the potential of offshore wells at 1/10th the cost.

[RHertig]

Should have said dow.

[Margin321]

TXP actually had some off shore blocks in 2014. If I remember off north west coast. They might have had some conversations about a farm out, but that very minimal. They never considered drilling anything themselves. It was not a good time in the oil patch and nothing was ever drilled on those blocks. 

[mjh9413]

It is painful waiting for online prodn but isn't a great deal due to timelines for completed agreements and regulatory rrequirements which are controlled by Trinidad. The latter pays for the connection does it not. The gas and oil is not going anywhere so another few weeks for Coho and hopefully the Fall for Cascadura, and so on. And why go for offshore when enough exists at Ortoire, not

[Margin321]

NGC pays for natural gas at the well head and provides those connections.  NGC (nor other government energy agency) does not pay for processing liquid rich gas to extract the liquids. NGC does not pay for connections to national oil pipelines. TXP has to truck the oil and liquids to a selling point or pay for their own connecting pipeline.  They alrady have a plan for a liquids