Member Info for Brasso3

I think I will stick with TXP over AEX thanks.

Trinidad or Tanzania?

TXP has 1700 BOEPD production rising soon to 3000 - 4000 BOEPD. How much production does AEX have?

You are not being realistic regarding Cascadura!

The well could produce in the range of 600 - 1200 BOPD but the figure you are quoting (4 -5k BOPD) are ridiculous based on the information we have. They would need 4 - 6 wells to get close to 4000 BOPD IMO.

I agree with everything you say. The only reason this has not exploded is that there is a short term funding gap for drilling in Q2/ Q3 2020. Having said that the short fall is only $5m - $7m depending on cashflow over the next few months.

We must remember that the Cascadura well that cost $4m can be offset against SPT so Q4 2019 should be very profitable.

PBs comments about Coho #1 were exciting in their own right but the Cascadura comments are very significant IMO:-

"The well results far exceed any pre-drill expectations. This well is not only a significant discovery and milestone for Touchstone, but we believe it also establishes a new development stage for onshore drilling in Trinidad."

Trinidad produced around 70,000 BOEPD last year and that has halved over the last 20 years. The peak was around 240,000 BOEPD in 1980. PB would not make a statement like the one above if Cascadura was going to produce gross amounts in the 1000 - 2000 BOEPD IMO. I think Coho + Cascadura could easily gross close to 5000 BOEPD with 4 - 5 wells.

https://www.indexmundi.com/energy/?country=tt&product=oil&graph=production

Its difficult to see how they have found 16m shares.

The volume over the last few months is barely above 30m shares and I have purchased 1m in that time.

redrobb

I suggest you go back to school.

We are talking about 1.5% o the share capital!

How the hell have Schroders found 16m+ shares?

There must be a sell RNS to follow... unless we are of course dealing with a corrupt market...

Surprised.

Not sure how to explain this news...

Something I had forgotten about with regards to production.

PB states in this interview (5 min 15 sec) that since the formation of Heritage (Oct 2019 onwards) they are now recieving much better pricing relative to Brent. Previously they were working on a 13% discount to Brent and more recently the discount has dropped significantly to 6 - 8%. This is massive for cashflow and we should see evidence of that in the next quarterly.

https://www.youtube.com/watch?v=emAwFc-vT4E

I like his comments on Cascadura!

"there is only one service rig available on the island that is capable of dealing with these pressures"

More big trades gone through!

790,243 at 2.904p
794,782 at 2.9p

A rollover where they have deducted £100 for the commission? I do not use rollovers so would not know.

The 3.24p trade must be sell IMO.

Its not possible that someone brought 1% of the company in 24 hours and the share price has remained relatively flat.

I would agree that it must be a big player.

It cannot be PL as he only has room for 3m before he hits the 30% threshold.

How are we sitting at 3p when someone just bought 5m at 3.29p!

Can get an online quote to sell 200k at 22.3p

The MMs are looking for stock so beware. I expect to see some big buys turn up after 16:30.

What we have not discussed on here recently is that the oil price (WTI) is now at $60/ barrel so whilst the SPT is not ideal our margins on the 1750 BOEPD will be decent at present.

Can get an online quote to sell 200k at 21p at present.

The MMs are hungry for stock.

LSE seems to be blocking the link.

It is from Directors Talk website.

https://www.***************************/touchstone-exploration-ceo-says-cascadura-oil-discovery-is-transformational-interview/412801088/amp?__twitter_impression=true

"Its transformational, its a step change for the company... from a production point of view we expected 400 - 500 BOPD from wells like this... although this is 4 - 5 times thicker than we expected"

https://www.***************************/touchstone-exploration-ceo-says-cascadura-oil-discovery-is-transformational-interview/412801088/amp?__twitter_impression=true