Roundtable Discussion; The Future of Mineral Sands. Watch the video here.
Looks like they may get VAT bonds And soon!
https://www.firstcitizenstt.com/dms/FaQ-for-VAT-Bonds/FaQ%20for%20VAT%20Bonds.pdf
https://www.bsg.ox.ac.uk/sites/default/files/2020-05/2020-04-Lockdown-Rollback-Checklist-v2.pdf
https://www.bsg.ox.ac.uk/sites/default/files/2020-05/2020-04-Lockdown-Rollback-Checklist-v2.pdf
I am pleased to report that we currently have the necessary building blocks in place to make 2020 a truly transformational year.
Despite ongoing challenges, we have five main business objectives in 2020:
• Bring the Coho-1 well onto production to increase cash flows and decrease our sole reliance on volatile crude oil forward pricing;
• Drill and evaluate at least one commitment well on the Ortoire block subject to maintaining liquidity targets;
• Formulate a design and plan for production from the Cascadura-1ST1 well;
• Negotiate and formalize a natural gas contract with NGC for the Ortoire block; and
• Finalize the extension of our existing joint venture agreements with Heritage.
We are currently designing tie-in alternatives for the Coho-1 and Cascadura-1ST1 wells, which will be part of the extensive onshore gas infrastructure managed by the National Gas Company of Trinidad and Tobago ("NGC"). Once on stream, these wells are forecasted to represent approximately 70% of our production, resulting in a 70% natural gas and 30% liquids product mix. We believe this petroleum product diversification will insulate us from future commodity price volatility.
Our mission is to not just survive but to come out of this unprecedented challenge with a stronger and sustainable company.
https://www.sedar.com/DisplayCompanyDocuments.do?lang=EN&issuerNo=00004484
RNS On 11th March:
“ The well has now shut-in for an extended pressure build-up survey which is expected to take up to four weeks, after which the Company will review the pressure data.”
Now six weeks, so news soon?
Come on PB let’s have an update please!
Agreed, think PB stated it would take about 4 weeks to change the rig in the yard to optimise the drilling. A smart move if it reduces drill time and cost and risk.
PB needs to start reporting all drill news. Investor confidence is shot, so a company like TXP which is not effected by corona and oil prices over the medium term should be shouting as loud as they can!
Trindid is doing exceptionally well with Corona mitigation/social distancing with their curve looking like its already flattening.
Hope all are well, GLA,
https://www.worldometers.info/coronavirus/country/trinidad-and-tobago/
With news on the near horizon any positive news on oil and this will rocket....
At 41p oil price we make same profits as 50p as no SPT. So some benefits from having a tough fiscal regime on oil. It makes the company lean and robust in these situations!
https://www.glossary.oilfield.slb.com/Terms/p/permeability_thickness.aspx
https://www.glossary.oilfield.slb.com/en/Terms/b/buildup_test.aspx
From 11th March RNS. 4weeks ago. Sounds like we should get to know actual production rates soon, and remember that they maxed out the flow testing equipment so expect higher rates!!!!
“· Downhole pressure recorders are expected be recovered in approximately one month, and the Company will subsequently use the pressure data, in conjunction with geophysical mapping, to define resource potential.”
Safe share indeed.
https://youtu.be/8uxsnH3UJlE
https://www.*************.net/ceo-qa-with-paul-baay-at-touchstone-exploration-lontxp-4/
https://www.proactiveinvestors.co.uk/companies/amp/news/212816
Good summary. Hopefully the data loggers are pulled soon and we can estimate what the actual production flow rates will be. Given the equipment was maxed out I’m guessing much more than we expect.
I believe they only had to commit to three drills for the licensing agreement on the block. The fourth (originally Chinook was a bonus drill they wanted to do) but now that is number 3 as it is simpler to drill. So once this is done they have met the minimum commitment. Sensible to then see how things go with oil, corona etc.
I think the subtle deramps show what a good stock this is. Most people know it’s good, so they can’t blatantly say the opposite, thus we end with subtle doubt making going on. Plenty of PIs sitting, waiting for a lower re-entry point. Hopefully this will turn to the upside quickly and catch many out. Seems Canada values the company noticeably better than AIM does.