Member Info for highlandmatt

At the time Tanzania was a very unfriendly jurisdiction for foreign companies.

Scir are a distressed seller, without the cash to meet the development costs. Lower gas selling price as well.

One of the reasons for pausing Mou2 was the fact that the logging tools were getting clogged. If Mou3 is successfully drilled and logged, then the need for this info from Mou2 is removed. Once finance is available, Mou2 could be completed, even slowly, as an additional producer. It would also serve as an appraisal well to inform extent of resources. Mou3 takes away one aspect of the mud problem.

One theory might be that a solution has been identified, but it is expensive or hard to come by, so it is cheaper and quicker to drill a new well to get the required info.

I was just pondering this. My theory is

1) The Aberdeen lab hasn't got capacity at the moment, or hasn't found a solution yet. Therefore cannot progress Mou2 currently, as continuing a slow drill is pointless if you can't log anything.

2) The testing crew is either delayed, or is happy to leave the kit in country for a few weeks.

Therefore, PG and Lonny have worked out that while they have the rig, and the testing kit, they might as well drill and test another well at a cheaper price than if a standalone project. It's a return to the original plan but substituting mou3 for Mou2.

I think as PG is always thinking ahead, to the next problem, he sometimes forgets to tell folk about the solution to the existing ones. This is probably because in his own mind it is resolved and ongoing. I do this myself. However, I'm not a CEO that needs to communicate with shareholders. Hopefully he will comment on Mou1 and 2 in an interview.

Fair play Charlotte, Nigel, for calling the placing. I wonder if there is a macro element to this? Given the financial market wobbles, I wonder if PG decided to grab some cash while he could at a sensible price. Lots of work coming up.

I doubt there will be an RNS for explosives reaching Guercif.

https://twitter.com/TouchstoneExp/status/1636422354137153536?s=20

2 months, so ready mid May?

Just doing a bit of digging:-
https://www.cegplc.com/operations/trinidad/cory-moruga-snowcap/
chrome-extension://efaidnbmnnnibpcajpcglclefindmkaj/https://www.touchstoneexploration.com/wp-content/uploads/2023/01/Corporate-Presentation-January-2023.pdf

Wells previously flowed. Reserves already assigned (opening up RBL). In Herrera fairway. Next to Barrackpore. On trend with Royston. Touchstone as partners, with access to the best geologist on the island. PG seems to keep landing prime acreage.

Sounds delusional.

That would be useful. Yes, the $56m is free cash flow after tax etc.

I'd have thought that whatever the Mou1 tests show from the bottom sands, that will inform the plan for Mou2 reentry.

HS - initial Casca production is guided to be 60mmcfd and return $56m per annum. So 3 times that, full Cascadura production, would get that. However, that is Casca on its own. There is legacy oil, coho gas, Royston oil to add.

Well, I've sold the shares I bought at 0.28p. I reckoned there are risks that either this is a spike, or that the sale is tied up with arguments about CGT, as was Aminex's farmout. I don't see a new AD plant until the second set of $3m, given loan repayments and Gneiss fees. EAG will be ticking along nicely, but not enough yet.

10:1 also stated in the draft Pathfinder Admission Document.

Indeed fearless. The only thing we know is consolidation at 10:1. The raise price and opening price are unknown at this time. Folks trying to combine these 3 separate things are a) incorrect in trying to do so (although the shareprice on relisting might be close to the raise price), and b) just tying themselves in knots.

I think you will be safe at these levels. I'm still accumulating.

There is no 'consolidation price'. It is just converting 10 shares to 1. The placing price' is yet to be confirmed. Yes, if it opens at 2p, those that bought at 0.1p will have done well. IF.

It only stuck in my mind as Paul Baay from Touchstone (another of my holdings) was also presenting about it's high pressure gas at 3,000psi.

I recall 2700psi, but don't quote me. Think it was mentioned by PG in the last presentation.