Member Info for 1750mk1

Hi Fman, Colter spud by end of month ... news broke that final permits were approved today which lifts concern they were not coming and drill may be delayed. Rg due to move 21st and spud around end of month.

It's appraisal and 58% COS ... around 24m updside to ADL from 3m (inc 1m cash) mcap.

Think that will explain todays buying ?

Touchstone Exploration reveals ‘monumental’ resource potential at Ortoire block (TXP)

by ValueTheMarkets • January 18, 2019

An independent evaluation of Touchstone Exploration’s (LSE:TXP) Ortoire block has confirmed that prospects identified by the business (LSE:TXP) are of ‘significant size’. Touchstone released details of the Prospect Evaluation report, conducted by GLJ Petroleum Consultants, on Thursday.

GLJ estimates that Touchstone’s contingent resource targets have a 95% chance of commerciality. The consultant suggests that Touchstone’s share of prospective resources will be between 4.39m to 53.2m barrels while its portion of contingent resources will be in the region of 1.5m to 5.3m barrels.

The report also puts Ortoire’s Net Present Value (NPV10) at between $10.5m to $86.86m. Meanwhile, the projected costs for developing the block’s contingent resources came in at $10.2m for 2019. Finally, its prospective resources are expected to require an estimated budget of $5.67m this year. These figures are based on an estimation of Touchstone’s future net revenue using forecast prices and costs as included in the prospect evaluation....

http://www.valuethemarkets.com/index.php/2019/01/18/touchstone-exploration-reveals-monumental-resource-potential-ortoire-block-txp/?utm_campaign=shareaholic&utm_medium=twitter&utm_source=socialnetwork

often quiet here ... tends to get busier on those news days when we move up quickly through 50% or so rises :)

It's coming here ... has to. Approval news is new today so will get round and once the risk vs reward sinks in from the mcap here it positions will surely be taken now.

I think the concern over the permits not showing approved so far plus the EIS requiring a winter drill and the locals campaign etc.... and then iceburg's 'bad news' (as he called it) blog the other day saying 'good luck' 'cos he don't think t would go ahead... have maybe all had an effect to hold folks back.

Not seen an apology from @iceburgshares yet ... should do really as the bad news blog and trolling was uncalled for... he even referred to it as "bad shares news coming... that will impact a few shares" the day before ... nice. It did impact think as both ADL and UOG dropped no other reason.

Game on now though ... looking like spud by end of the month so GL all.

try this way in ... https://itportal.beis.gov.uk/eng/fox/beis/PETS_EXTERNAL_PUBLICATION/main

yep ... https://itportal.beis.gov.uk/eng/fox

select 2019 and then 'find' "colter"

screenshots all over twitter too.

great news to see that all the final Colter permits are now approved... despite the rumour mill saying they wouldn't be.

Game on ... looks like rig set to head off on 21st so spud by end of month.

Appraisal so hydrocarbons are there for sure, just how much? ... 58% COS ... Could be worth 24m to ADL from mcap of around 3m inc nearly 1m in cash and Bunga Mas & badger coming up too... surely has to be one of the punts of the year for anyones money ?

Stellar news ... game on.

Breaking the neck line on this h&s now ... https://twitter.com/pauljemmett2/status/1085621259575197697

Possible bullish head & shoulders shaping up here... buyers will be pleased to get in this side of the line imo. I added yesterday.

Half price sale imo... with Ortoire thrown in for free.

Paul R. Baay, President and Chief Executive Officer, commented:

"This independent prospect evaluation provides confirmation that the prospects that have been identified by the Touchstone team are of a significant size and provide an excellent opportunity for a step change in reserves, production and net asset value of the Company. Proving this geological model could be monumental for Touchstone and Trinidad as it will set up a multi year exploration and development program."

I guess some may fret because not all permits appear to be in place yet for Colter... however... outstanding wick permits were not approved until the rig was well on the way up the coast, only 3 days before it was on the block if I remember rightly.

yep... outstanding wick permits were not approved until the rig was well on the way up the coast, only 3 days before it was on the block if I remember rightly.

agree... portal is still not updated as far as I can see but I don't have a log in either so will be delayed info.

In the press 15th Jan...

https://www.oilfieldtechnology.com/drilling-and-production/15012019/uk-oil-gas-drilling-to-start-soon-at-colter-well-wessex-basin-uk/

"In November last year, UK-based Corallian Energy revealed its plan to commence a two-well work programme, starting with the drilling of the Wick well, followed by drilling of Colter scheduled for Q1 2019. All necessary approvals are in place. Among Coriallian’s joint venture partners, Andalas Energy and Power represent the best leverage play for the Colter prospects with its 8% interest."

"All necessary approvals are in place."

In the press 15th Jan...

https://www.oilfieldtechnology.com/drilling-and-production/15012019/uk-oil-gas-drilling-to-start-soon-at-colter-well-wessex-basin-uk/

"In November last year, UK-based Corallian Energy revealed its plan to commence a two-well work programme, starting with the drilling of the Wick well, followed by drilling of Colter scheduled for Q1 2019. All necessary approvals are in place. Among Coriallian’s joint venture partners, Andalas Energy and Power represent the best leverage play for the Colter prospects with its 8% interest."

"All necessary approvals are in place."

lol... 'more than just westminster' ... i'd rofl some more but I've run out of floor to rofl on.

Paul Baay interview on Proactive Canada... 15th Jan...

https://ca.proactiveinvestors.com/companies/stocktube/11847/touchstone-exploration-looking-forward-to--true-exploration-drilling--in-trinidad-11847.html

Very good as always from Paul Braay so thanks to him for taking the time and VTM for hosting.

Well worth a look.

Online now ...

http://www.valuethemarkets.com/index.php/2019/01/16/video-touchstones-paul-baay-discusses-ortoire-blocks-game-changing-potential-exclusive-valuethemarkets-presentation-txp/?utm_campaign=shareaholic&utm_medium=twitter&utm_source=socialnetwork

Did cross my mind when reading the Tullow update Levi... that said, it’s surprising the amount of apparent confusion over who is involved in Wick and Colter.

Rig move and permits next driver.