Ryan Mee, CEO of Fulcrum Metals, reviews FY23 and progress on the Gold Tailings Hub in Canada. Watch the video here.
Nice :-)
Penalties are normally applied To performance within the contract. - just because no penalties exist does not mean the scope of the contract is not enforceable.
The contact here is we find bring to the surface everything we can find in otto ire block they transport and pay.
Definatley enforceable in law.
A poster (sorry cant remember who to credit) I believe on ADVFN suggested it was BPs Ginger:
https://www.bp.com/en_tt/trinidad-and-tobago/home/news/press-releases/ginger-discovery.html
Smasher : if I have my sums right I reckon NGLs Revenue 1000 BOE @ 70% of Crude price
So say 1000*$35 /d
Costs aprox $1 /BOE
$27.2 BOE = $27200/day (@80% Holding) per well
Taxes : No SPT
Less 30% PPT
Less 5% Unemployment Levy
Less Impost @ 46 C per BBOE
Nett profit after taxes circa $17200 per day per well.
Finncap Summary
Nc target 188p
An early Christmas present from Touchstone, which has finalised a long-term US$ natural gas sales agreement in Trinidad with NGC covering all future gas production from its Ortoire block. This is a major positive for Touchstone, which provides visibility on a long-term revenue stream and should boost confidence in the wider development potential of the prolific Ortoire block where four discoveries have been made and a further 21 exploration prospects identified. It is also getting ready for a series of production tests on the Chinook-1 and Cascadura Deep-1 wells, which will provide greater clarity on the development potential of these two discoveries.
?GSA provides cash flow visibility. Touchstone has signed a long-term US$ natural gas sales agreement with the National Gas Company of Trinidad and Tobago Ltd. (NGC) covering all future gas production from the Ortoire block (TXP 80%). A NDA between both parties prevents specific details of the agreement being disclosed, but this is a major positive for Touchstone which provides long-term certainty for its future gas sales and cash flow. It also minimises the capital required to develop the resource as NGC is responsible for the pipelines to connect each of the gas discoveries. It underpins our 188p/sh Touchstone risked-NAV, which is based on a long-term Brent oil price of US$50/bbl and Trinidad gas price of US$2.20/MMBtu.
https://docs.google.com/spreadsheets/d/1gmjhgbGhFPDpTIpcB77JXBo3-8GhWd3wzXvWvWYG5Z4/htmlview#
Touchstone’s Ortoire block exploration programme onshore Trinidad has again exceeded expectations with its Cascadura Deep-1 well delivering another major gas discovery, its fourth in a row after Coho, Cascadura and Chinook. Further testing is required to determine the ultimate potential of the discovery, but this well again confirms the accuracy of Touchstone’s geological model and extends the runway for future production growth from this prolific acreage. Our risked-NAV and price target rise 58% to 188p/sh as a result of this discovery and a higher Royston pre- drill resource assumption.
?100% exploration success rate maintained. Touchstone maintains its 100% exploration success record on the Ortoire block in Trinidad with its fourth straight discovery, Cascadura Deep. The Cascadura Deep-1 well did not reached its planned depth due to high pressure gas zones, but still encountered a massive 2,100 ft of sands. Wireline logs indicate 1,315 net ft of natural gas pay in four separate Herrera thrust sheets down to total depth, two of which were previously untested.
?Touchstone’s best well yet. According to management, this is the best well drilled so far on the Ortoire block, confirming that the Cascadura field has numerous targets within each of the thrust sheets. More drilling horsepower is required to evaluate the deeper zones, but the well has demonstrated that the system is hydrocarbon charged. It also expands the known boundaries of the sands tested in the Cascadura-1ST1 well, which should have positive implications for resource estimates.
?Focus shifts to testing. The focus now shifts back to production testing, with Chinook-1 expected later this month before further testing on Cascadura Deep-1 to determine the potential of the well, which is expected in Q1 2021. Touchstone will also now design a future development and exploration drilling program for the Ortoire block while it completes and ties in the existing Coho-1 and Cascadura-1ST1 wells, setting it up for rapid production growth in 2021 and beyond.
?Risked-NAV raised to 188p/sh. We have scrubbed our Touchstone model, updating our NAV to include the Cascadura Deep discovery and a larger prospect size for Royston. Our risked-NAV and price target rise by 69p or 58% as a result, to 188p/sh. Cascadura Deep accounts for 40p of that move, with our forecasts now assuming a 49 mmboe discovery. Our higher Royston resource estimate adds another 26p/sh to risked-NAV. We still do not include anything for the wider prospectivity on the Ortoire block, where an additional 21 prospects have already been identified. As details of these are revealed, they should drive further upside to our valuation.
Tue 23:04
Please Copy & Paste your entries...
£1.15 Tobin..
£1.18 spawny100
£1.24 Urzz
£1.28 Trek
£1.30 Photo
£1.33 Mrs spawny100
£1.37 McCangts
£1.42 Bluebottle1
£1.46 Mrs Photo
£1.48 David Black
£1.50 Proselenes
£1.50 Brighty1
£1.55 Finnjavel
£1.61 Lexion
£1.64 SimonT
£1.67 Leapinglemming
£1.77 tidd83
£ 1.79 shellguy
£2.00 Climbingwosster
£2.20 Corpse (Ihope So)