The next focusIR Investor Webinar takes places on 14th May with guest speakers from Blue Whale Growth Fund, Taseko Mines, Kavango Resources and CQS Natural Resources fund. Please register here.
Wishing you, and all your hopes, the very best. Good luck.
And to all.
More on the economy:
https://twitter.com/AB___76
Good for the oncoming budget review ?
https://trinidadexpress.com/business/local/nel-reports-2-33b-profit-for-15-months/article_aa2588b8-1b67-11ed-a529-2f770e06aead.html
See 'about NEL' in the bottom section.
EIA approval (perhaps by Monday, 15th sept latest)
Coho online (next week?)
Cash return from NGC for pipeline.
Drilling plans announced. (likely Royston side-track; 2 Coora wells)
SPT reform (budget on 2nd Sept if I recall correctly)
Vat returned.
New credit facility (RBL on Coho)
https://newsday.co.tt/2022/08/10/young-optimistic-over-new-touchstone-wells/
More cheerful!
https://www.guardian.co.tt/news/british-airways-to-offer-nonstop-flights-to-trinidadfrom-2023-but-with-reduced-service-6.2.1530647.f85bba60f0
I wonder whether it will be full of wealthy shareholders?
Guyana also?
Seems BA is making plans based on successful oil markets.
Paul, if you read this BB, then please note that you and your investor relations team should take a look at this:
https://rumble.com/v1f6giu-ppe-expert-stephen-petty-the-truth-about.-cloth-masks-and-n95s-includes-pre.html
It really is depressing and off-putting seeing people you've invested in dressing-up for ClownWorld. It raises questions on judgement and integrity.
Handcuffed and masked - looks like they're off to the gallows! Very sinister.
It's about time they stopped this idiotic nonsense. Discredits the company. Paul needs to insist 'No More'.
Here's Mr Young a few days ago:
https://twitter.com/StuartRYoung1/status/1555250838859292674?cxt=HHwWhICxrbuZrpUrAAAA
This is of concern.
The speed of change and changes willing to be made will all depend on the cooperation of the operator.
Also waiting on various Government approvals (as have recently experienced with TXP, where delays halved the share price).
AET does not seem the master of its own destiny here.
Hope these questions will be raised in the presentation.
Maybe need to see how this relationship progresses in the coming months before jumping in on the headline figures?
Good photo.
https://oilnow.gy/featured/touchstones-cascadura-project-moves-closer-to-approval/
Will this cause us delays in drilling?
From today's Copl presentation:
• COPL has been able to secure 50% of the casing required to drill the first two horizontal wells.
– There is a current global shortage of oil field tubulars (casing) due to the Ukrainian conflict.
– Casing prices have increased >50% with all grades in short supply
– Production tubing prices have increased by >30%
additional quote:
'Within the space of two weeks Touchstone has moved to another level in Trinidad as they announce today that they have received the final green light for the Cascadura project and now they move to the CEC final application which will happen within the next couple of weeks. '
Thus, well before the 15th Sept.
I would not be surprised to see it approved by next Monday.
Canaccord Genuity nudges up target price on Touchstone Exploration
(Sharecast News) - Analysts at Canaccord Genuity slightly raised their target price on exploration and production firm Touchstone Exploration from 190.0p to 200.0p on Monday after the group secured environmental approvals for its Cascadura development.
Canaccord Genuity said on Monday that the key element to allow the Cascadura development on the Ortoire licence in Trinidad to proceed, approval of the Environmental Impact Assessment, had now been secured following confirmation from the Trinidad and Tobago Environmental Management Authority that no further information would be required.
"This in effect provides the 'green light' for the Cascadura development," said Canaccord.
"The EIA forms the critical part of the company's application for a Certificate of Environmental Clearance to develop Cascadura. With the expected near-term formal CEC approval Touchstone now anticipates first Cascadura production can be achieved by YE22."
The Canadian bank noted that after a "rigorous and longer process" than it had expected earlier this year, it sees the news as "a highly significant step forward" not just for Cascadura but also as a template for the longer-term development of all its Ortoire licence resources.
"Consequently, we partially derisk our Cascadura area valuation," concluded the analysts, who stood by their 'speculative buy' rating on the stock.
Reporting by Iain Gilbert at Sharecast.com
'Touchstone submitted the remaining EIA documentation on August 3, 2022, and the EMA responded on August 5, 2022 stating that the submitted information was reviewed and was deemed to be adequate to determine the outcome of the Company's CEC application. Pursuant to statutory CEC rules, the EMA confirmed that a final CEC determination will be made by September 15, 2022.'
15th Sept is the statutory up to 30 working days clause. The information has already been reviewed (and deemed to be adequate). Thus I would expect the final CEC determination to be made well before the 15th Sept. Anyone at the EMA causing a delay at this stage will really be for the high jump. I think we can expect the CEC very soon. Fingers crossed.
HM - Thanks.
Just my thinking that it is too much of a coincidence that they are both presenting (only 3 presenters announced so far) - presumably in person. I'm guessing that one wants to informally talk to the other about something, and this is a good opportunity to meet up.
PRD also attending.
https://www.predatoroilandgas.com/operations/trinidad/
19 july rns: 'CO2 EOR Trinidad
The Company is focussed on leveraging it's CO2 EOR expertise in Trinidad whilst preserving its cash resources in the near-term to advance drilling activity in Morocco.
Working in cooperation with Lease Operators in the PS-1 Block the Company has selected four additional sites for CO2 EOR operations. This will be the key area of focus for the remainder of 2022.'
https://touchstoneexploration.com/operations/
Near by.
Will PRD be offloading their Trinidad interest?
https://oilnow.gy/featured/norway-energy-research-company-set-to-present-report-on-guyanas-og-sector-in-georgetown/
'... Ahead of Parker’s arrival in Guyana, Rystad published a press release that said Guyana has entered the big league as its oil revenues break US$1 billion in 2022. The release notes that revenues from oil will grow so steeply over the years that annual revenues are projected to meet US$7.5 billion by 2030, and US$16 billion by 2036.
To make sure Guyana stewards its oil and gas industry the right way, Rystad said there are steps that need to be taken to improve governance of oil, building on the moves already taken by the government, such as improvements to fiscal policy transparency....'
Thanks, John. Full quote:
'Make no mistake this is a highly significant move from TXP today, whilst I am sure they would have liked to have announced first gas these moves are the necessary pre-commissioning actions ahead of such a major announcement. As it is they are preparing to ramp up production over time to 10 MMcf/d (1,667 boe/d) gross, 8 MMcf/d (1,333 boe/d) net.
The work done at Coho has been a massive learning curve as Touchstone prepare to move on with the EIA and then construction of the Cascadura facility, another milestone development that will take the company to another level and will send a message that new production onshore Trinidad is possible.
When this is completed the company will have been transported into the big league of major players in the Trinidad oil and gas industry and with growth opportunities at Royston and across the portfolio will make Touchstone a leading energy producer in the Caribbean with all that entails. With that I expect the market cap of the company to grow out of all proportion to the current £125m and be nearer five times that amount.'