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Coho is 500,000 usd a month when it’s online, it’s not just a sigh of relief. It will help,pay for wells we need to drill.
I agree, the "Coho deal" is just a note that we may see Coho production in 60 days, which is also just a sigh of relief.
In response to Shellguy -
1. Seismic (of Royston area) is done - don't forget to listen to Xavier Moonan's Virtual Tour of Touchstone (for YPTT Chapter of AAPG) on Friday - the link is on his FB page. That will be very interesting. The blurb by AAPG says that we will learn more about their recent seismic survey activities.
2. Royston should spud soon. It' is already way late and that is not big news, just a sigh of relief.
3. Strange if Cruse at Chinook remains on pressure test now and even stranger if that continues for many more weeks. They get baseline pressure, do a drawdown by producing at high flow (usually 24 hours) and then do a pressure build up curve. Some times they repeat these steps after small volume (for injured well bore) or large volume (for poor permeability) fracks. Sometimes they temporarily shut down adjacent wells (there arn't any in this case). I can't imagine what they would do for many weeks on this particular well. We saw a flare - sometimes will bore will clean up with more prolonged production and then can be retested. If so those with some knowledge of satellite photos can tell us if it is still being flared.
4. New rig gently floating on the ocean until early August. Will be great to get it on the island and at the legacy sites.
5. What does Coho deal in final stages even mean. It is a year and a half late. I guess they could announce a second development well (that is the only thing I would be excited about) and that construction has started to link it in the the NGC pipeline rather than to the half full Shell processing plant 3 km away. But that makes little sense. And either way it will take at least 60 days to get pipe in the ground once they finally announce where the pipe from the wellhead will go.
In response to TrekMadone - this is my highest conviction pick among my small cap high risk/high reward picks. TXP has been derisked to such an extent that the main question seems to be when the reward part will start to materialize. Of course that is not totally true but it sure seems like it. It is not 100% of any account I have and certainly not a huge percent of my portfolio (I don't do that), but I have very high conviction and I have enough shares where TXP could be a big contributor over next few years if it unfolds like I think it may.
“....still accumulating at this levels and I would prefer it even lower.”
Well i’m 100% in TXP in my ISA now. Mrs Trek has other investments but mine is a TXP YOLO! As a consequence my SP has averaged up considerably!
All eggs in one basket and all that but I see the assets worth significantly more than my average SP in any firesale which kindoff underwrites it but the upside is huge which makes the risk reward so compelling.
This news void and unfortunately covid has presented an opportunity that otherwise may not have presented itself so I have grabbed it!
DYOR
Trek
But the market does not know that, only the fools with dreams here, dreaming every day.
The 'wall of cash' is moving closer. : )
jmo
Just tweeted
An update from #Royston - #TXP’s team in #Trinidad have now completed 22km of seismic which will now be sent in for processing.
Hope I do not crack before the cracken
- Seismic done.
- Royston to spud hopefully next week.
- Chinook-1 on pressure test for 2-3 more weeks.
- New rig on the way for 4 legacy drills in H2.
- Coho deal in final stages.
Seems like most things are moving forward again! Waiting for some updates on Cascadura now.
Afraid?
Besides the shorters that is. The ball is rolling again on several fronts, tick took. You’d better close it out before you lose your a55es!
Nonono... No News... still accumulating at this levels and I would prefer it even lower. For me, this is a massive sale. It's all about (very much) patience. And some point the cash will be flowing and this sale will end.
Alone?!?
You’re not only CW we’ve been clobbered by politics and Covid on that one however Mr Young must of had a reason for saying August unless it was journalistic license.
I thought we would be hooked up and producing by now
Not really, Paul seemed pretty pi55ed at how the market has reacted especially the leveraged positions and is waiting until he has some real news to move the needle.
I couldn’t agree more....
The last meaningful Rns was over a month ago..
its about time for a f$%^fkin g update?