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The beauty of O&G is it can be whatever you believe it to be. It transcends language, age, race, religion, politics, gender, and socioeconomic background. Whatever your circumstances, anyone can enjoy a good death over O&G exploration. The next few days is either Chess mate for TXP and PB or be crowned the future king of Trinidad & Tobago
Trinidad and Tobago holds 728,300,000 barrels of proven oil reserves as of 2016. Also, taking into account T&T are by far the richest Caribbean island that export oil & Gas to the Us it is a member/signatory to several trade and investment treaties, the most notable of which is the Caribbean Community (CARICOM). CARICOM's main pillars are to promote economic integration, foreign policy coordination, human and social development and security within the Caribbean.4 CARICOM has entered into several free trade agreements (FTAs) on behalf of its members with third states, following which T&T implemented these FTAs into its domestic legislation.
T&T has also entered into bilateral investment treaties (BITs) with several countries designed to encourage favourable conditions for investors of those countries to make investments in T&T.5 These BITs also require each party to grant investors of the other party terms no less favourable than those that it grants to investors of any third state in similar circumstances.
T&T produce 97,725 per day and they consume around 56% of this (1.7 gallons per capita per day) back in 2017 T&G took a $1.5b loan from China and I believe this is why their going out to private bidder to re open the refinery with the current $2b state debt written off knowing the refinery can produced 197000 BPD
Or have I read this wrong
This is a good read on the T&T oil and gas history
https://en.m.wikipedia.org/wiki/Petrotrin
The T&T government is currently considering offers from three foreign companies to reactivate the 165,000 b/d Pointe-a-Pierre refinery. The plant was closed in November 2018 partly because of declining crude production which now averages 57,000 b/d, according to the energy ministry.
#1 China Petroleum & Chemical Corp. (SNP)
#2 PetroChina Co. Ltd. (PTR)
#3 Saudi Arabian Oil Co. (Saudi Aramco) (Tadawul: 2222)
#4 Royal Dutch Shell PLC (RDS. A)
#5 BP PLC (BP)
#6 Exxon Mobil Corp. (XOM)
#7 Total SE (TOT)
#8 Chevron Corp. (CVX)
#9 Touchstone (TXP)
The stock market reaction to the second test has provided a monumental buying opportunity for new investors. The importance of finding oil at Royston instead of gas has been totally overlooked. By July next year we could have 3 oil producers from Royston on stream, Cascadura on stream and the often discussed ‘wall of cash’ quote would come true. If we are really fortunate both Royston deep subthrust and Kraken could also be a discovery by then. Already discovered resources easily covers the current market cap and more, several fold upside through drilling comes on top. Any sort of share price target should be £3 to £10 on a two year view.
?? MJ I cut that from proactive and I posted it as I was impressed with PB extensive experience. WTF, the guys CV is good and not sure where it represents a lack of qualifications and spell check is for others num nuts
Take a chill pill son as we’re all heavily invested in TXP and you pull your neck In a bit.
Mr. Paul Raymond Baay, B.A., ICD D, has been the Chief Executive Officer of Touchstone Exploration Inc. since 2010 and serves as its President. Mr. Baay serves as an Acting Chief Executive Officer and Chief Financial Officer of Veraz Petroleum Ltd.
He served as the Managing Director of Abacus Energy from 2007 to 2010. He served as Director of Loop Insights Inc since June 2019 until November 2019. He served as an Interim Chief Financial Officer and President of Touchstone Exploration Inc. (formerly Touchstone Resources Ltd.) from October 2009 to February 3, 2011. He served as senior officer of True Energy Inc. from 2000 to 2007.
He is an Independent oil and gas financial consultant. Mr. Baay served as the President and Chief Executive Officer of Bellatrix Exploration Ltd. from August 31, 2000 to September 2007. He served as the President and Chief Executive Officer of Remington Energy Ltd.
from 1991 to 1999. Mr. Baay serves as the Chairman of Veraz Petroleum Ltd. and has been its Director since June 4, 2007. He served as the Chairman of Vero Energy Inc. since November 2005 to 2012.
From March 1998 to September 2000, he served as the Chairman of the Board of Request Seismic Surveys Ltd. He served as the Chairman of Bellatrix Exploration Ltd. from May 1, 2007 to August 20, 2007. He has been a Director of Touchstone Exploration Inc. (Operating Public Company) and its President & Chief Executive Officer since May 13, 2014.
Mr. Baay serves as a Director of the Rundle Mountain charitable foundation. He served as a Director of Bellatrix Exploration Ltd. from August 31, 2000 to November 19, 2007. He served as a Director of Vero Energy Inc. since September 23, 2005.
He served as a Director of Millennium Seismic Ltd. from 2001 to 2007. He served as a Director of Atikwa Resources Inc. since August 31, 2013 until September 2013. He served as a Director of Remington Energy Ltd.
from 1991 to 1999. Mr. Baay established Touchstone Energy Incorporated and is Former Chairman of the Board and Chief Executive Officer of Touchstone Energy Inc. from July 2010 to May 2014. Mr. Baay is Vice Chair of the Board of Directors of the Alberta Foundation for the Arts and is a member of the Board of Trustees of the National Art Gallery of Canada. He was formerly a director of AlkaLi3 Resources Inc. He is a member of the Institute of Corporate Directors.
Mr. Baay graduated from the University of Western Ontario in 1983 with a Bachelor of Arts degree in Administrative and Commercial Studies. He holds an ICD D designation as a certified corporate director.
I have everything including the kitchen sink invested in this company for over 12 months and have added 30k more shares a month ago. It was so hard to hold my nerve since yesterdays RNS. But after that update from Paul, I’m so glad I did!! Roll on 2 weeks and please fill my Xmas stocking with lots of presents or at least give me the 40% of losses so I can start 2022 fresh and ready for what’s coming our way.
I did as well! Full essay here
https://www.cnbc.com/advertorial/2017/11/13/five-barrels-of-water-for-one-barrel-of-oil.html
In 2020, the planet's oil wells will produce nearly 12.7 billion gallons a day of, surprisingly, water. The water is reused to meet technical requirements at installations, sidestepping the need both to tap the natural water supply and discharge the water produced into the environment. Known as reinjection, this is already common practice. Its future growth, especially in offshore fields, is part of the environmental engagement of oil companies, which are also experiencing mounting regulatory pressures. Most important, it's a daunting technical challenge, forcing operators to grapple with production requirements that differ in each case.No oil without waterYou can't produce oil without water, because water is present naturally in both onshore and offshore oil reservoirs. This naturally occurring water is called formation water. Minimal when a field first comes on stream, it can make up more than 90 percent of the fluids extracted after wells have been in service for 20 or so years.Used as a drilling or production fluid, water is also vital to managing an oil field sustainably. It is injected into fields via special wells, called injection wells. The injected water offsets declining pressure in the reservoir as oil is produced over time. Lastly, water enhances oil recovery by "flushing" the reservoir. For a long time, injection water was drawn from the natural environment, including oceans, rivers, lakes and estuaries. But it's the water produced along with the oil or gas that is increasingly used today. Water from the biggest Floating Production Storage and Offloading units — FPSOs — can, for example, reach 400,000 barrels — nearly 17 million gallons — a day, an amount that would fill 21 Olympic-size swimming pools.
First time in TXP profit and after continually looking at the SP 20 times a day, reading all the new over the last 6 months, it’s a very nice feeling. All the signs are telling me to top up this morning :) GLA