Member Info for McCangts

https://www.valuethemarkets.com/2020/06/05/video-touchstone-explorations-executive-team-runs-through-firms-sky-high-prospects-in-exclusive-webinar-txp/

Trek - looks like VTM posted an old presentation/ QA session instead of last nights - Dropped a BLK I reckon.

Sorry that’s the old one - but seems to have been posted yesterday just aasumed!!!

https://youtu.be/8-1EWhih6kw

Early rising Canadians and Yanks buying in - hour before open in Toronto at substantial discount?

My Take :
BOE/d Revenue pa (USD)
Current Production Crude 1,500 18,900,000
Coho 1 Gas 1,500 7,015,680
Cascadura NGL 1,500 8,038,800
Cascadura Gas 18.000 84,188,160

Total Revenue 22.500 118,142,640

Royalties USD:
Crude 5,594,400
Gas 11,400,480

NGL 1,004,850
Total Royalties 15,953,490

Net Revenue :
Net Revenue Crude 20,339,550
Net Revenue Gas 91,203,840

Expenses -26,000,000

Profit Before Tax 85,543,390

Taxes:
SPT 0
PPT (Petroleum Profits Tax) 42,021,695
Unemployment Levy @5% PBT 4,277,170
Impost 0.46c per BBO 3,701,250

Profit after Tax 50,000,115

EPS (p) 22.4
Valuation Range:
PE 8 - 179.16p
PE10 - 223.95p

Assumptions:
Crude @ 36/bbl
Gas @ 2.88 / MMBTU
NGL @ 3.33 / MMBTU
Working Days 350
Exchange Rate 1.22

Cut and paste and set up your assumptions in excel!

Opportunity for clarity on critical points

Thnx smasher - so summarising not unreasonable to think casc can double output to 18000boe/d given open flow rate of 120MMcfd with the two wells by qtr1 2021 which models to a Revenue perhaps 120M USD pa
Leaves this seriously undervalued (EPS 22p? ) SP £2.20?

Jay you quote RNS dated 11/03/2000 - I believe that was prior to the company announcing that they were to drill a second well at Cascadura (Cascadura Deep) as a result of the covid delays and consequently switching priorities?

Pretty fundamental to the share price if the second well can substantially contribute.

steady boy!

still clear as the mud they throw down these holes.
The basic question still stands - does a second well double production from 9000boe/d OR TO 9000boe/d

still clear as the mud down they throw down these holes.
The basic question still stands - does a second well double production from 9000boe/d OR TO 9000boe/d

mmmm mixed messages - still not clear if second well on the block will double the production rate from 9000 or to 9000?!!
The original presentation noted an average of 5180 CLARIFICATION REQUIRED from PB. only a small diff of 40Million USD PBT!

Thnxs again but he actually states it will give the production rate of the current drilled zone and goes onto say that the two are individual exploration structures (56:30) - so I take it no guarantee of passing through the previous zones .
I therefore take it that at current the find should be linked to the one structure likely circa 9000boe/d.

Thanks Jay but that's where the question was raised from - is cascadura deep pure exploratory down to 8500ft or more than likely to pass through the same sands and be productive regardless of what lies at 8500? ie WILL it double production and consequent near term returns.

As a newbie could anybody explain the significance of the second well at Cascadura and how like it is to succeed.
Are we exploring new pay zones or entering the known existing zone to increase production? (or indeed a combination of the two.
If entering existing pay zone is this likely to mean double the production rate or does it follow that pressures will drop and rates will be below 2x?
Cheers