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Gambflin - I accept payments in both dollars and pounds.
I’m currency non binary, they both work for me.
In the old days, before people felt the need to make up a bunch of new words, I would have just said that I go both ways, play for both teams, or take anything I can get.
MJ, just for clarity is that $’s,£’s or something else?
I’m just gonna throw 3 billion out there as a reference point, which would mean my part is like ……….. oh god, I jizzed in my pants!
Like all crap, why is it there and where is it coming from or what's it sitting on. A billion questions answered on a crap statement. So if the crap statement worth a billion, what's the best in thirty five years worth.
I’d love to know how much of the rock is “crappy” and how much is better than crappy, cause if crappy flows well, better than crappy will flow even better ……. And it was still cleaning up when the test was stopped. And there wasn’t exactly a lack of pressure down there to put it mildly.
I would love to know how deep that crappy rock goes.
And we get a littl break since we don’t have to even think about any news it until Monday morning before market opens in London. That is about 2:30 am where I am CST in US.
The RNS will not be late, it will come when it comes. But it is not particularly timely. Hoping it will be simple and straightforward and clean, as predicted. The only negative we have are the cautionary comments by Shipka in the first Royston discovery RznF, when he said porosity was not like Cascadura but was like other producing wells on the trend Even Shipka was all positive in the RNS detailing the light oil discovery in the first and deepest test / of the intermediate sands.?That was the crappy rock and it still flowed. This is the good rock and the largest amount of pay that they are testing right now in the second of the three planned tests. The third planned test looks just like the second only not as deep and not as many feet of pay. So this is the big one. See you all early Monday morning when our vigil resumes.
“No news, back to bed.”
I kinda think I am glad there hasn’t been an RNS this morning...
Zzzzz Zzzzzzz Zzzzzz
Trek
2101 new shares. Someone from company must have chuckled posting that on the website.
Anyone else get fooled about Paul’s 2101 be shares. Clicking on that new RNS link was disappointing.
No news, back to bed.
Ginmunger is the preacher, that was the best post I’ve read on any forum ever. Period. I am weak, and a sinner.
Sit on your hands and let the great business take care of things for you.
Soooooo ready to do that, but also want Royston to come in like a dog in heat, it aches in my bones, I need the fix from Doctor Paul and Doctor Moonan.
Doctor Doctor give me the NEWS!
I love investing, its like playing poker when your competitors are playing a totally different ******ed game.
We can't expect the conditions thats allowed us to purchase undervalued shares to change overnight so I don't. Like a few others here, I've owned Touchstone since the Petrobank days. Haven't sold a single share, only added. Lots of things have happened.
Charlie Munger once said and paraphrasing 'Mans biggest problem is the inability to sit on your ass and do nothing'
Why is that important? Well when you find a great business, thats the only thing you need to do. You don't have to fret about test results because the business is great.
What makes Touchstone such a good business you ask? They can put a hole in the ground for 6-8 million dollars and find oil/gas that will be producing 100+ million per year in cashflow. They already found one in Cascadura.
Now we get the same, if not better opportunity in Royston, Steelhead, Kraken etc (about 20 or so more exploration drills to go).
That is a great business, I mean no doubt if Royston fails to be commercial some shares will transfer from inpatient holders to businesses owners.
But who cares... The entire drill cost what 8 million? It doesn't change the business one bit if it fails. If it works, which seems likely at this point, even if its just the oil they found at test1, it more than paid for the entire drill from which we also gained tons of valuable information.
I really enjoy the real geo analysis on these bb's but you are in the wrong business if you want perfect timelines and instant gratification.
I doubt it will take weeks to analyze the pressure data. I also expect it to be unbounded, but only the pressure curve knows the answer to that right now. For Cascadura I think PAUL said a week to analyze the data, and if you want to use this for reserves reporting it is likely looked at by a 3rd party.
None of this matters anyways, let’s just have the results, awfully tired of waiting now.
Hears hoping for an RNS tomorrow,seems like a life time
Pre Chinook we had FOMO before test results. Now we have FUD ;)
Shares are sure not trading up in anticipation of the results. They are trending down in fear of the results. That should not be the case if this is the most exciting well of a 35 year career. I may fill my US $1.80 limit order today. Almost filled yesterday.
MJ - They won’t wait until the recorder data is fully analyzed - that takes weeks and is done by in house analysis and external independent analysis to give reservoir size and project initial production rates from this well. What the will have is pressure at maximal drawdown and rate at which pressure recovered and whether reservoir associated with well is unbounded, which it surely should be if the 7.2. by 1.8 kn structure is charged with liquids filled gas. That is enough to confirm commerciality of the well and the field.
The recorders are placed in the well for a set period of time, which is an industry standard
Good point. One of the Casca tests was quite a while from memory, with a crushed recorder? The problem is I keep waking up at 7am every day in anticipation.
Some pressure tests can be longer than 2 weeks as well, up to say 4 weeks. Then you have to retrieve the pressure logger, download the data, and then interpret the data.
2 weeks for a pressure test?
A Reddit post where user Rouhija69 has played with the satellite image settings from 14th November and thinks that it could have been a flare
https://shorturl.at/gwPZ1