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Thanks Zeus for reminding us what a winner TXP will be long term.
This is definitely an investment you wanna hold for years if Ortoire is succesfull.
nosugar Paul has mentioned that there are a considerable number of potential wells out there above the number I mentioned if their proof of concept works. I'm sure he said could be 200-300 over many years so not short of options but don't have the cash to take many forward at present. On politics I am sure there are good online sources of information out there - not an area I know much about.
Sunday
Do you mind expanding on current and potential valuations???
So current market cap of £22 m gbp.
Bank loan 15m is it cad d ??
Making $2.9m cash in q1 from operations??
Assests how long are their leases? How much development are they required to do??
Big shareholders?
Current production at 2k range then year end dec.
Zu - you are basically saying the Ort. Has material opportunities beyond the initial plan. So early success could really be the launch pad?? What the politics of t and t???
Did the refinery shut in the end??
Thanks all.
All for a current MC of £22mil.
There are so many AIM oil and gas companies which offer nothing but have much higher MC's.
Once other PI's realise the potential here were gonna see some serious fireworks
I've just gone back through my notes from Paul's Valuethemarket interview on 2 May, his presentation on 15 May and proactive investors on 18 June. Lots of valuable info in there. Links will be online somewhere or in past postings on this board.
As far as I can see there are 2 drills going ahead - Coho 1 and Cascadura 1 at a cost of c$3m each, then Royston to follow possibly Q1 2020 at c$5.5m. I see reference to 4 exporation prospects but only 3 drills. Paul seems to mention 4 drills in his proactiveinvestors interview but isn't specific about this. Either of 1st 2 drills could increase output by c2000 boepd (Royston much more than this if successful). Coho 1 is proof of concept. Coho-1 likely to increase output by c 1000boepd within 6 months (95%). If Cascadura is successful there are 10-15 additional wells planned there - so it'snot just about Coho-1. On 2 May Paul estimated drilling of Coho 1 would take 20-25 days so be warned - it may be quicker than the 28 days in the RNS ie we could see inital results next Monday rather than the following week.
There could be 30+ follow-up drills if proof of concept is achieved at Coho or Cascadura - lots of upside. Paul aimed for year end production without Ortoire of c2500 bopd - with Heritage announcement on Touchstone selected drills expected in Sept/Oct. I think 2500bopd may be a stretch too far but would expect output over 2000 bopd by Dec 2019 without Ortiore. Paul said that it would take c6 months to get Coho flowing to its max output so next March possibly rather than year end? Although Cascadura is ready to flow it would also take a short period to get up and running. If drilling there ends by early October there may be some oil by Dec 2019. Always best to err on the cautious side. It doesn't really matter though if drill results are good. SPT/tax changes are hoped for in 2020 but no guarantees. c35 days to prepare/drill Coho and Cascadura - c45-60 days for Royston. Royston could contain 1/4 tcf or even 1/2 tcf of gas (that's over 40000boepd as I calculate it).
Paul finished up by saying there are plenty more anomalies to be drilled over the next 5 years - you can't say he hasn't got a vision for Touchstone. However we need to see Coho and/or Cascadura deliver then this company could really grow quite quickly.
Yep
Thanks Sunday
Not thought it through right
Very happy to run with your thoughts!
GLA
Hi Lex. I disagree. The gas play may not be on line by year end but it will be close. We have been told the 2nd and 3rd wells can be bought on line straight away, pumped onto tankers. So current production 2000 + lower end estimates off 1000bopd for 2nd and 3rd would be at least 4000bopd. By end of Jan once the gas play is on line then could be 6000bopd+ I really think we could see 50p+ by year end
Hello Nosugar
I’m thinking a good starting point would be 3000 boed by Xmas
-based only on the first well being successful and in production
These hook ups seam to take far longer generally than plan (ref SDX)
If Coho is online then funds flowing will help fund well 3/4 etc GLA.
No not me.
Hard to understand the scale of q4 exit rate production if things go ok?
Say a mid point assumption???
Is anyone else seeing an updated broker rating?
But shows no information?