Member Info for highlandmatt

Absolutely. One of the discussion points a while back was the insurers could make the test mandatory as part of assessing individual risk and premiums.

Excellent. Production up, cash up.

A placing is not a problem if it is accretive. If PRD raises $6m, drills Mou5, proving up a 100km2 multi-TCF feature, that is a fantastic ROI. However, I believe PG was hoping to prove up the CNG plan, forward sell, and use that to drill again. However, what if the results of Mou3 mean there is a bigger game in town and the plan has changed?

Yes, sometimes there is months of negotiation over one word. Sometimes takes a change of personnel to bring a change of perspective.

All I'm seeing is green boxes, and no RNS 🤔

Other than those that bought at 15p pre Casca.

Maybe he gave away information? Who knows.

Yes, 'global energy needs'. So they think it is large, then?

I am assuming that Cas 2 and 3 will replicate Cas 1 and Deep. So should bring in $40m over the next year for $12m spent. Meanwhile 1 and Deep will bring in $20m. Cas4 and 5 will do $40m prorata for 6 months. So, year 1 was $40m, year 2 will be $80m.

I believe the plan is 2 wells at B pad in Nov/Dec, and another 2 in Jan/Feb. If the C pad wells can come on at 40net, that would make approx 60net and 75 gross. 4 at B pad at 80 net, 100 gross would mean in 6 months time doing approx 100+ net even allowing for declines.

Https://youtu.be/EQ8kPNnSjQw?si=-tozdKWfSw1t3sQS

Https://www.malcysblog.com/2024/09/oil-price-touchstone-ceg-seascape-petrofac-tower/

This is very good news from Touchstone and the Cascadura C wells having both flowed oil and gas, the 2 well flowed at 3,600 psi and the 1 well 2.665 psi and ‘highly promising’ whilst mirroring the observations at the 1 well. Oil was confirmed at the 3 well and CEO Paul Baay seems very confident of liquids possibilities on the block which is very good news.

With the 2 well swiftly being made ready to connect to the pipeline and then ready for testing at the natural gas facility ‘as soon as possible’ it is an encouraging situation and along with the results of the second well test, which in a really positive development confirmed the presence of economic hydrocarbons on the east side of the Fault C, which had not previously been booked as reserves.

This means that the Cascadura structure may well hold ‘multiple hydrocarbon accumulations beyond previously defined boundaries’ a feat by any operational standard and total justification for the management, and by the by very useful for future drilling work.

All in all things are looking very good at Touchstone, there have been one or two small delays but now with their own infrastructure in place and able to reduce time taken to move the rig over to the Cascadura B pad using the company’s own network and to have the risers already in place to facilitate successful development on the pad.

The shares have yet to make a significant move upwards which I do expect with a much higher Target Price being justified. There is much more in the portfolio including areas not yet approached at Ortoire and as I expected so much more to come from Touchstone.

'speaks volumes.' Literally!

Asked to take shares. RNS says 'unsolicited'.

Either way BRV, it's a huge structure. For comparison, the Touchstone Cascadura field is shaping up to be 1TCF, and will need 10 wells plus, and a facility for 200mcfd, and will probably last 20+ years. This is potentially much bigger.

Financial results are always backward looking by definition. Most companies put something in around 'post period highlights ', which Chariot has done. Nothing unusual.

Must be someone in need of water. It is Africa after all.

Thanks WW. So, envisaged to be much later in the journey than our test. Also saw 7 day response, so sounds like a manual lab process as opposed to a high throughput machine process as our is. Given it is a grant funded project, I'm thinking they are behind us as well.

Https://www.bbc.co.uk/news/articles/crl8x6rr68zo

I've not looked in to the efficacy or cost of this yet.

Agreed. But we knew that already.