Member Info for Goodbody

And that’s just a the bottom 18% of the total pay zone!!!!

OMG!!!!! It’s a monster 5000boed WOW

https://www.upstreamonline.com/production/touchstone-exploration-drilling-ahead-in-trinidad/2-1-750448

Two rigs to drill two onshore wells simultaneously, chief executive said

Interesting that it has ticked up in pre open.

Ticked up quick. Trapping traders out. Charts are not a good trading guide right now. This is moving on fundamentals in my view

I think TXP is the real deal. Never seen an opportunity like this in the oil sector. CasCadura is a monster. Only opened up 18% of the pay zone and the kit couldn’t handle the pressures. CasCadura and COHO will keep this company well in profits and remove oil price risk for them completely (in my view). Still two wells to drill but their reserve models are more than confirmed.....They smashed them!

Interesting set up for open. Small uncrossing trade to set the closing mid at 26 last night. Same opening bid and ask Today as yesterday but will show down just because of the UT last night.
Last time they did this we actually ended the day up. Here’s hoping...
GLA

https://ca.advfn.com/stock-market/TSX/TXP/share-price

Just shows how massive CasCadura is at 1000ft or about 300m of pay zone........

Tullow, offshore....4m!!!
https://energynow.tt/blog/tullow-announces-oil-find-at-carapa-1

Tullow has announced that the Carapa-1 exploration well, drilled on the Kanuku licence offshore Guyana, has encountered approximately four metres of net oil pay based on preliminary interpretation, and has extended the prolific Cretaceous oil play into the Group’s Guyana acreage.

I would agree but I can’t wait 900 years Lex....
Next year is going to be very big for TXP.

Happy new year all.

Sure, I understand. But how does he put a figure on something so big he’s never seen anything like it before. You can read into It anyway you want to really. Just have to wait and see.
At the production rate they plan to start with COHO returns $10m per annum in revenue, pretty good for $3m costs; and at this rate protects the well whilst they get to understand the field better.

I would recommend anyone thinking negatively about these wells listens to this again!
https://www.proactiveinvestors.co.uk/companies/news/909569/coho-1-well-to-add-around-50-to-touchstone-exploration-inc-s-production-base-909569.html

Coho is a world class well. No boundaries were identified during testing, bigger than they first thought. Draw down excellent, deliverability excellent. CasCadura, PB has never seen 1000ft of pay in a well in 30years experience. (it is huge). Testing planned to start early jan.
third, forth wells To be drilled in Q2, Q3. (that gives time to plan financing, my opinion is they will not need a placing given the results of coho and CasCadura by that time and why would they give away a portion of there company for a couple of wells when they are cash flow positive now and probably financially positive next year. They can just slow it down a little if needed to balance the books, they have time. £5m tax refund due also!!!
PB does not like to speculate/hype like many other AIM directors. If people read into the RNS negatively they were probably that way minded anyway.)

Exxon drill offshore and hit 164ft of pay sands. We are on-shore and hit 1000ft and at significantly lower drill costs and operating costs. This is so huge it’s impossible to price. Looking forward to a great 2020.
https://energynow.tt/blog/exxonmobil-makes-15th-discovery-oil-offshore-guyana-at-mako-1-well

Agree, lets get beaten up because no one wants to give them lunch money and they haven’t got their placings to cover their ass. Well mine are mostly in a SIP for 10-15 years, so these holes can go jump!

I was thinking to myself reading than RNS. Confirmed $10m per annum on the revenue, sends the company financially positive. Derisks oil price fluctuation, funds future drills.............that should put £400k on the Mcap! LOL. MMs showing their true colours.

We’re looking at $10m + gross revenue per year at a controlled 11MMCFD rate.

AOF is the effectiveness of the well to deliver gas. The planned delivery rate is well below this and they will use a choke to regulate. These are not IPR. They are selected production rate to ensure well pressure and flow rate is well managed.

Need to rethink targets for the MCap... Lol. £1....£2??? OMG this is huge!

Amazing

Brent looking good for a Christmas rally. Remember that PB said anything over $60 a barrel and they would be looking at funding Royston from cash flow. Looking very good for them being financially positive on their base production alone at this point.