Member Info for Desmond45

Brent touching $80 per bbl. Touchstone has just likely discovered tens of millions of recoverable barrels with Royston 1 about to go on long term production test yet the SP is at pre cas deep levels. Cheap.

From Pb interview
Doesn’t get better than finding an enormous oil discovery (7km by 2km structure)
Next well from same pad end of January
Wall of cash coming in 2022 as company turns from an exploration company to a production company.

Oh and Royston is a commercial discovery.

Have to say the SP reaction today to a confirmed oil discovery is astounding. However, reasons to be happy;-
1. Cash to roll in from an extended well test following a 7 day shut in to assess bottom hole conditions.
2. More wells to come which will;
A) further appraise the intermediate sheet (~500bbls a day, 94% oil from worst quality rock in Royston 1).
B) delve deeper to explore the sub thrust which produces prolifically in off setting Penal Barackpore wells.
C) appraise the deep underlying Cretaceous prospect Kraken
D) optimise production from overthrust sheet
E) adds more reserves to the yearly reserves update improving lending capacity

This is in addition to Coho coming online (weeks not months), and Cascadara afterwards in ‘summer’.

Whilst I too had to assess the bottom hole conditions in my underpants when seeing the market reaction to today’s RNS, I shall be topping up.

This radio silence is disgraceful

Looks to me like Proselenes has sold out and is now aiming to get back in at a lower price.

Funny how the market has written Royston off as a duster in SP terms, yet we will be aggressively developing it in the new year LOL! I bet some people feel silly now.

So TXP is now worth less than it was before Royston, despite making two separate oil discoveries which weren’t actually optimised to test the oil properly?

Cheap

Has the market stopped ****ting itself yet? Maybe it will soon realise that there is an oil charged column 4x the size of cascadara which can be quickly monetised.

5-10p is nonsense. It may go a few pence below the placing price however which presents a good top up opportunity IMO

The recorders are placed in the well for a set period of time, which is an industry standard

Deemule, I have to say that is some seriously rose tinted evaluation of the reabold portfolio.

“California was a resounding success and we were hit with Covid”

High decline rates on the wells and generating insignificant sums in revenue. Most worryingly the biggest prospect Grizzly just vanished from all forward plans without any explanation. Talking about a few hundred barrels a day with high royalties. Waste of money.

“WN again theye were only after gas and have found a sea of oil, so a nice problem to have IMHO.”

The not so nice problem is that neither gas nor oil flows in any meaningful quantities at west newton and is therefore effectively useless. Sank over £35m into this project - waste of money.

“Parta again gas discovered but ADX are in control.”

Parta well apparently exceeded expectation when drilled, yet didn’t flow and was unsuccessfully acid washed. Brushed under the carpet. ADX expanding into green energy and Parta will be shelved permanently. Waste of money.

“Corallian we are selling it off lock stock and barrel for many times the money invested.”

Flogging a dead horse springs to mind. Following other ‘successful’ discoveries such as Colter. The only RBD asset now worth more than the paper it is written on is Victory which won’t see anything happen until at least 2024. Hence the drop from 1.00p to 0.14p - or am I missing something?

persimmon - it has to go up as well as down to be able trade!

Looks like folk might be smelling gas near the Royston well pad given the price action…. GLA!!

Hydrocarbon exploration in North Yorkshire began in 1937, targeting Triassic and Permian reservoirs below the surface expression of the Cleveland Anticline. D’Arcy drilled the successful well Eskdale-2, marking the first gas discovery in the Zechstein carbonates in the UK. Since then approximately 100 wells have been drilled in the basin with exploration success relatively high. Out of the 25 pure exploration wells in the region, 13 have found hydrocarbon accumulations (flowed gas) and eight of the discoveries have been developed to date. The primary reservoir is the Permian-aged Zechstein carbonate sequence and, more specifically, the Z2, Kirkham Abbey Formation (KAF), which is a tight carbonate reservoir overprinted by a high permeability fracture system. Despite considerable investment and effort over the years, the historical development story of these fields has been very much one of repeated technical and investment failure, with approximately 39 Bcf (billion cubic feet) of the mapped gas initial in-place (GIIP) of c. 326 Bcf produced to date, an estimated recovery factor of 12%.

Paul stated yesterday Royston is the best discovery he’s seen in 35 years. TXP will hit £1bn+ mcap in due course.

There is no requirement for cash - we are fully funded to first gas. Have plenty of income at current oil prices and unused debt facility.

Simply stunning result. TXP is going places with coho, cascadara and now Royston! £3 incoming

Go on twitter and search #kist you will see it

Regulator website updated that the Q10-A-04 sidetrack has hit gas!

I think it’s pretty much nailed on that an asset is about to land given the current cash flow and appointment of a new broker.

Any ideas what it may be??