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Monkey, there are often good reasons to why we are kept outside the truth. The company is working its ass off to secure and build as much value as possible for the shareholders. Eventually the issues will be adressed and the gas will flow.
Coho news will soon be released.
Stupid iPad touch keyboard.
Paul had a deal lined up
get the gas from Coho
Paul have a deal lined up with Shell for Coho, TXP purchased the pipe, and was going to install the pipeline themselves.
Then the NGC thing came along and suddenly NGC was going to get he has from Coho, and maybe purchase the pipeline from TXP.
So, Shell probably feels a bit stepped on by both Paul and NGC. Why in world he didn’t tell NGC whole block minus Coho …… you were too late to the party ….. is beyond me. But here we sit today losing cash flow everyday because the pipe we bought is piled up rusting at the Coho well site.
A major F up with no info and no explanation. Paperwork not signed by the stakeholders. Why?
'I think they were just talking about the central block wells, which would be exciting for two reasons: '
PD stated in a investor presentation in early 2018 that the TXP management had recently met with the Shell Management of the Central Block Gas Field to discuss TXP's upcoming Ortoire exploration drilling programme - the Shell management expressed an interest in taking some/all of any commercial nat gas discoveries and, freely provided TXP with all their central block well, drilling, testing and production data.
I was referring to how TXP used the term in the press release.
"similar to data seen at other offsetting producing wells"
Do you see anything about geological twins on other continents? Do you think that is what they meant? This was not a discussion about how you personally use the term offset well. You just have to let this go. Doesn't matter.
I like mbarnholdt's term "analagous well/reservoir" which makes total sense to me, but they also did not use that term.
I think they were just talking about the central block wells, which would be exciting for two reasons: 1. Those wells are prolific, and 2. Cascadura field is even better than that. At first I thought they meant Coho but that is not a producing well - although it will be soon. I do wonder how the porosity at Royston compares to Coho.
I asked you for names of "other offsetting producing wells" other than central block wells. Carapal Ridge is one of the central block components (carapal ridge 2 wells, baraka 1 well, and baraka east 1 well).
I think the correct term here is an analogous well/reservoir. A reservoir can be used as an analogy for another if it meets certain rules or tests. In my reserves days at Shell, had to be within same basin, then there were a number of other characteristics/tests that had to be met (sadly most of which I have forgotten, but recall that porosity/permeabilities/type reservoir needed to be similar). If it met the majority of the tests, then you could use the analogous reservoir to estimate a recovery factor usually. This was usually early on in the process, then as you gathered more dynamic data (psi/production) you'd move away from the analogy to methods more based on material balance & physics.
I know you know I was making a point that geological twins can be quite far away, and not actually tying to say that an offset well referred to in the RNS is in Africa.
Carapace Ridge obviously, but other than that, I have no idea how wide they cast the net concerning that statement. You could draw experience and knowledge from any Turbidite in the world, it all goes towards the general understanding, not limited to neighboring fields.
Hey MJ, I am just kidding. I was just imagining what you would say to me if I started spouting nonsense about “off set wells on different continents”. You have said that you work with lots of people who are smarter than you are. Try a survey monkey question - “Can you have an offset well on another continent?”. Then send anyone who answers no a google search to increase their knowledge base.
Great day for TXP. Some of the most important test results will be here by end of October or early November. If Royston well tests well (anything over 25 mmcf/day plus good pressure tests especially pressure build up after flow test) then the upward move after that could likely be even better than this one. Again congrats to Paul and XM and everyone at TXP and all the members of this board who have been and are following the story closely. I have owned shares since day 1 of the company and this is the most optimistic moment. And we are very very early in the story. It will also unfold for years with many possible positive events but all with less risk after Cascadura is on line and cash flow is fully supporting all the development and future exploration too.
That is a totally different situation than worrying about capital raises and bank loans. Once Cascadura and Royston (hopefully) are both hooked up to sales (maybe mid 2023) then they have no reason not to start paying a dividend. Two rigs is enough and at that point will take only a smallish part of the cash flow.
I did say in theory ….. but you can read this to increase your knowledge
https://www.google.no/url?sa=t&rct=j&q=&esrc=s&source=web&cd=&ved=2ahUKEwjRz5ushZjzAhW4SPEDHQEsASkQFnoECAIQAQ&url=https%3A%2F%2Foxfordbusinessgroup.com%2Fanalysis%2Fshared-geological-structures-across-atlantic-are-leading-interesting-prospects&usg=AOvVaw06PNOeej3VFk6UWSWi8txK
That is a GOOD ONE MJ. Offset wells on different continents? An entirely new concept. Ha ha ha.
Even Google dose not know that one. The legal description of offset well (not to say exclusive use of the term) is "an oil well drilled opposite another well on an adjoining property". Certainly in common use it refers to wells in a slightly broader area. But on another continent? Come on. Or are you just kidding? You could talk about a well on another continent in a somewhat comparable geology. But that would not be an offset well. And the amazing fact is that TXP (with Xavier at the head of exploration) is really pioneering the concept of gas charged turbitite sands on-shore. So you would have to go off shore to even really find a comparable geology. So the other continent thing would not work for that either.
In theory you can have offsetting wells on different continents. So offshore or on another island, whatever. Is the depth similar, is the geology similar, are the other properties similar? There is no strict condition that offsetting has be within 20 km or anything ……. Geology is far and wide.
MJ <
Again list the producing wells you are talking about in the area/formation/producing depth. In addition the the four central block wells that came on in 2001.
What I am saying is that there are lots of shallow Forest oil wells over to west side but there are no other Hererra tests and certainly except central block (4 wells, two of them exceptional wells) no other Hererra producing gas wells since 2001. You would have to extend the "offset" to off shore or to other islands. I know that you are very experienced in drilling, but where are the producing offset wells in Trinidad they could be referring to in the presser, if not the central block. Just list the other producing Hererra gas wells. Comparisons of porosity with Coho would be very interesting but Coho is not producing
Other wells would depend on how far off your offset is …….
Not worried. But a question and a clarification would be okay. They did not have to put that comment in the RNS but it does highlight what an amazing field they have at Cascadura. When they say “similar to other offsetting producing wells” that can only mean central block since there are no other offsetting producing wells and those were drilled in 2001. Or can you think of other producing offset wells they could be referring to?
Anyone worried about the porosity comment shouldn’t be. What he’s actually saying here is that Cascadura has unusually high porosity (fantastic to know that), and that Royston is similar to other wells in the area / formation / depth.
More to come on October as testing results are anticipated and released. Would also get an even quicker extra bump when Paul does presentation and clarifies a few items. Paul’s father Royston was an R
E and P guy. He was a huge influence and I think he died in 2013. Paul named this prospect as a tribute to him. As you know we are fishing for prospects but this one is more than fishing to Paul. Congrats to him.
We should line up our questions for him. In past he has sometimes done a 3 minute add on answering questions he has not gotten to.
1. Porosity is less than Cascadura but similar to some other producing wells. How does it compare to Coho and central block wells? What other wells are like this?
2. Why did they stop early? Especially since pay zone was open to deeper levels when they stopped. Were high pressures encountered? Any kicks of gas to surface? How much mud weight was necessary?
3. Wire logs showed pay. Since only thing that can be confused on resistivity is water, and especially with prior interpretation trouble at Chinook, did they encounter water? Do they think these sands are dry?
4. Do they have plans to go deeper with a Royston development well if there are deeper sands not yet tested by this well?
There are probably more. Congratulations to Paul especially but also to Xavier Moonan and the whole team!!!!