Member Info for Goodbody

I Remember you said they needed a placing for CasCadura and yet they are drilling it (feb place doesn’t Cover the cost before you start) then they plan to role straight into Chinook, which wasn’t even in the original plans. Some how they are managing to avoid your unavoidable equity placings!!! Perhaps they are different to the aim masses you do often benchmark them against...

The 5m could be used to fund Royston but they aren’t planning on it. They think they can fund it simply through positive cash flow between now and then, so the VAT return is just a bonus to be used as seen fit at the time. They also now think they may be able to drill Royston with the existing rig, which would be great as they can continue with the momentum they are gaining on this four well programme.

*Aim Oilies

Also like how they call these exploration wells because they see development being 10,, 11 wells on a prospect! They even have permissions to drill additional wells on these existing pads if they see value in doing so. Many aim oulies would rip their own arm off for just to be able to self finance a single well. Have they already transformed by being able to self finance. I think maybe so......

If they hit those kinds of flow rates they might find it difficult to keep IP under wraps. They like to let them flow for a while but many eyes probably watching these drills. These are the Deepest drills (inland) in TT over last 25 years, so pb said....good stuff.

My understanding is that the testing rig should be at CoHo-1 now.
Also 2.5 weeks into drilling Cascadura so should be reaching the first pay zone very soon.

lol Yeh ok.

It will certainly be interesting over the next 4 weeks. Given CasCadura will be able to turn to production straight after testing it will be a game changer sooner than people may think. I think people also miss the fact that they are doing less work overs on existing wells so that capital expenditure is being refocused on these drills. Hence no need for a placing! They are comfortable to finance development through credit and exploration through working capital. They have this properly planned out. Great stuff.

I would guess the update will be tomorrow or on Monday.

https://www.valuethemarkets.com/2019/10/09/video-touchstone-explorations-paul-baay-details-trinidad-focused-firms-plans-for-ortoire-in-exclusive-valuethemarkets-presentation-txp/

Ask ticked up 0.75! but still very little stock on the ask. Way below the usual level.

Little stock at the ask.

Mm’s traders prepared to pay well over the mid for stock LOL. Little stock available at the bid. Clearly they are wrong side of the trade. Maybe Wanted a placing. Tough luck! Lol. We may get a short squeeze here. GLA.

Great update, thanks much appreciated.

Sounds like PB wanted to hammer home the fact they they don’t anticipate any placement, which I think the traders/mm’s have been positioning for. Self funding is plan A. Good stuff.
They will need to send the SP up to a sensible figure if they want good liquidity.

We also have the Trinidad 2020 budget presentation on monday 7th. Lets hope there’s some good news on the SPT front too.

Good to see them hiring.

Based in Trinidad, the Facilities Engineer will assist with designing Touchstone’s onshore gas well facilities.

Work closely with the Senior Production Engineer in determining the appropriate well site equipping design options and pipeline tie-ins for onshore gas wells.

https://tt.linkedin.com/jobs/view/facilities-engineer-at-touchstone-exploration-inc-1477891012?refId=662fce14-4e65-421e-92c0-fb39f53d451f&position=1&pageNum=0&trk=guest_job_search_job-result-card_result-card_full-click

One of the great things I like about this company (other then the imminent transformational news on the drilling programme) is their involvement with the community and you don’t get much better than this:
https://reliefweb.int/report/trinidad-and-tobago/national-security-agencies-ground-response-piparo-mud-volcano-activity

Don’t see other oilers taking this kind of responsibility. Well done touchstone and well done to Xavier Moonan.
Safety is number one and early warning is what can really make the difference.

Hopefully everything will be ok and nothing serious happens but at least they are prepared.

Note: Piparo is no where near any part of ortoire (over 10miles away from the closest boundary, so not an issue for the drilling)

Agree, That’s why I have just over 580,000 TXP shares and zero CERP ones...

Great summary.

https://www.valuethemarkets.com/wp-content/uploads/2019/09/View-From-The-City-TXP.pdf

Welldone!

I’m not sure the financial balance sheet cares.