Member Info for Monkey_Junkey

Trek - This is the first test at the bottom zone. They will now move up to two other separate zones.

Please read up on drilling and testing and stop posting silly comments. You have been around for a long time here and should know better by know.

They are not moving a drill, they are simple moving up to the next zones to test them. Everything was wireline logged when they were done drilling the well. It’s been the plan all along to test each zone bottom up.

Canada closed @ 2,10

Hmmmmmmm

How many Canadians have eyes and ears on the ground?

As a bonus, it was mentioned that the Coho pipeline trench looks to be about 1/3 dug, so they are making swift work of this. Speedy Gonzales is on the excavator.

Have a nice weekend, and remember Paul’s mail response. We’re slightly delayed from the earlier targets, but the ball is definitely rolling on several important triggers in parallel. Going to be a dramatically changed company in the coming months.

About time we get some fire under the pot …..

mbarnholdt - thousand thanks for posting that reply from Paul. (I wish you would have posted it way back then, maybe next time…. :-) )

Paul could have saved himself, and all of us a lot of frustration by making those explanations more public back then as well. Especially the bit about Shell and the Coho pipeline. I suppose the other way to do it is pepper him with mails asking for details like this, but it’s really more efficient to just say it like is publicly so we all know (we are funding this after all) and then concentrate on the other business at hand.

Once we get production rolling all these small details will become less important to the bigger picture, Paul seems to already be at this stage for the public relations. Maybe because he sees the delay issues from COVID and Shell and NGC as less serious in the long term than we do.

What did you ask, and what did he say?

A monster by the tail.

It’s just that the market doesn’t understand terms like “Wall of Cash” and “We’re gonna have so much we won’t be able to spend it”

Buy while it’s on sale

Good is it flows wet gas or oil with little or no water. If you compare to a legacy well where 100 bopd is good and has quick pay back, 500 to 700 bopd because Royston cost 5 to 7 times as much to drill would be acceptable to me. For gas, anything like Coho. So anything above these scenarios is great and anything approaching or even half way like Cascadura would be excellent.

Been a long time since I’ve seen a picture of the pipe, but from memory it looked a bit bigger than 6 inch, but I don’t recall. 6 inch is certainly a whole different thing to deal with than an 18 inch monster.

Yes, that’s what he has said. That’s 50m / day and without seeing what other equipment is available there and how they are going about it, I will be super happy if they do it in 60 days. 90 days is okay too, just that we actually started and there is no approval or paperwork BS holding us up anymore is the big deal.

Hopefully the contractors have imported some external expertise if they are not used to building pipelines. Paul said there have not been any pipelines built in 20 years on land, but there must be a lot of piping on land, both buried and on surface with the massive petrochemical industry located there. One would also think that they would have a proper local company or two at least that can do this type of work in a professional manner.

I want to be all excited jumping up and down that the pipeline construction is finally started, but I’m so worn out from waiting that I don’t have any energy left.

There will probably be quite a bit more equipment mobilized on the job, but at least the actual starting of the construction with a pic (thank you TXP) shows us that all of the red tape and paperwork is out of the way and so we can sink our shoulders knowing that it’s up to the construction crew to carry on from here. Hopefully it’s a fixed price job and they will some sense of urgency to get it done as quick as possible before they start on the Cascadura pipeline. Looking like there is a decent amount of money that will go towards pipeline for us the next years, so a nice carrot dangling there for a good performance from the contractors.

Hip Hipp Hurra, and a bunch of beer tonight !

Until we get an RNS, we will just have assume it was a person in need of getting out quickly for some reason, which maybe spooked others. Or it was a tree shake, stop loss raid, or simply a manipulation attempt by someone who wanted to knock the share price down for some reason,

Without any RNS we can’t say it was insider trading.

First of all I’d like to say that I’m going back to bed.

Another step in the right direction. Would like to see a 3D rendering of the entire facility.

I would hope that most of this is just off the shelf design - we need a wet gas plant for so and so much gas and condensate, and they tweak it a bit and start building. No need to reinvent the wheel when these these types of things have already been built all over the planet.

Hope they are manufacturing it all outside Trinidad and shipping it in so we don’t risk ending up on island time.

I’m more interested in Baaaaaaaaaam, and not having to work Monday to Friday every week for the rest of my life for someone else.

The Baaaaaaaaaa’s seem to like this sort of thing where they all follow each-there one way on the highway every morning around the same time.. They make someone else rich all day, and then they baaaaaaaaaaaaaaa all the way home getting frustrated by long and slow lines (too many sheep and not enough road). We Bam people do need the sheep though, gotta keep those wheels turning producing all the things the Bam’s want and need to consume to have a nice lifestyle.

Let’s hope that Royston comes in good so I don’t have morph back into a sour sheep, and more here on the board can also relax a little more in life. Every day of delay monetizing our assets is a day closer to death, and no amount of Bam can change that yet.

I have lost much more derisking TXP than I would have had I just turned off the compuer when I had 0.5% of the company.

See no point in holding so many shares you simulate an indeks fund. Funds are for sheep.

I don’t understand why people think that production wells can’t be drilled at Cascadura or Coho before the pipeline and production facilities are in place. Of course they can, just the same as Coho, Cascadura and Cascadura Deep are there waiting to be produced already drilled. Why would you not drill the other producers so you had more production and cash flow as soon as the pipe is ready to take it?

It’s about ****ing time !

Sorry for the language but I’m really quite ****ed off with how the locals and government run things in Trinidad. They have a sense of urgency about nothing, and hurts both them and us financially. Seems to be an increasing problem the closer you come to equator. Maybe it’s not the people in Trinidad, it’s the equator’s fault?

But anyways, so we will have increased production and cash flow in November I would think from this well ….. should be extremely fast to monetize, and the payback at these oil prices is ridiculously short. Hopefully the plan is to just keep knocking these out on a continual basis next year as well. We should have imported two of these rigs, one for Ortoire and one for Legacy. There are other rigs on the island that can be used for Legacy, just not deep, so it’s just a matter of having the paperwork in order and pressing the button.

TXP did 10 wells I think on the last Legacy program (was a shareholder then too), and there were zero problems I can recall, and every well was a producer. A couple were commitment wells with maybe not the largest desire to drill exactly there and that deep, but they still all produced. Now we can drill wherever we want, and so I expect to be in the higher interval of production for these wells we are drilling now and hopefully next year.

Drill Baby Drill

Can anyone confirm that the flow testing spread is on standby for use at Royston to be mobilized after the drilling rig is moved and the service rig is in place?

At Chinook, the testing equipment was tied up by a third party offshore for months while we were waiting for it, so I see this as the highest risk to possible delays for testing. Would be great to get this clarified.

The SPT was revised some time ago to raise the price at which it kicks in from 50 to 75 usd per barrel. I also believe there was a clause that it was produced with under 2.000 bopd. Not sure if this was per field or per operator? Anyways, we ar under 2.000 bopd currently anyhow.

What was the mechanism where the SPT starts? Was is quarterly average price, or was it something else? Is it market price, or is it actual price obtained (which would be influenced by hedging, etc.).

We are making bank on whatever we have of production that is not hedged at the moment anyways, and so if we are still under the SPT threshold in this environment, the cash on hand is growing every day.

Helps a bit while waiting for COHO, which some say is right around the corner. Let’s hope we see a picture of a trench being dug very very soon.

It would be up to the board recommending something and then a shareholder vote I suppose. Good thing there are not a few holders that sit on a lot, have been squeezed out before from a management with high holdings that robbed us by tipping the scales, and probably took nicely paid jobs with bonuses in the new company.

Of course one can never know what is held in nominee accounts.

Any bid would of course have to have a premium on it to get the short term term holders and traders on board, so it’s gonna be interesting to see how it unfolds.

Paul did have an interesting comment earlier though about the end customers on the island would also be a force to be dealt with if a bid was on the table. They would certainly like to have control of the upstream gas production if they got the chance.

So if we get taken out, it will certainly be profitable from these levels, but I would like to hold TXP for the next 20 years, and retire nicely on the dividends.