Member Info for Monkey_Junkey

It’s also easier to produce from lower zone first. Perforate low, pack off and perforate higher moving up the wellbore.

Perforating higher, and then going lower is not impossible, but is more complicated.

Can even use some gas from a different zone or somewhere else to enhance oil recovery, and then still get it out after the oil production is halted.

You can have gas, oil, and water in the same zone Bully.

After trading down my huge position to “reduce risk” before Coho, and further reducing on the way up, I have kicked myself hard and long. Still have a very sizable position, and another 200% will get me to where I would have been today if not risk reducing anyways.

As bully just said, and the entire reasoning for me going nuts deep in TXP before Coho in the first place is the trend of pools and the old logs that confirmed without a doubt that the trend continues. There is more to find, plain and simple. There may be much more to find, and even though we’ve had a hard rise, it’s entirely possible that the trend will continue to rise hard the next couple years.

Not trading down risk again, there is less risk now than there was before Coho.

DB - sounds like a swelling or other type of encroaching formation issues and they were reaming it and got stuck. The possibility for pulling out a section of drill string that is stuck like this is pretty much zero. You would try various things before giving up, but in the end end up going down to cut the drill string from the inside and pull out what’s loose. They may have decided not drill into the tricky formation again. I wouldn’t try to say anything about what’s in the well without any logs, but they might have had oil shows on cuttings, or gas in drill mud, who knows? 60 years ago, technology and methods much improved since then. For anyone interested in Reaming (as opposed to fisting):

https://www.google.no/url?sa=t&rct=j&q=&esrc=s&source=web&cd=&ved=2ahUKEwjl5s_R377vAhXukYsKHcX2CywQFjAJegQIAxAD&url=https%3A%2F%2Fwww.offshore-mag.com%2Fdrilling-completion%2Farticle%2F16759356%2Fdrilling-operations-reamingwhiledrilling-keys-effort-to-reduce-tripping-of-long-drillstrings&usg=AOvVaw1LMRzHF2LYi9_Hhn7yWkyk

The gas pipeline running Across the island to the LNG plant is 56” I’m diameter .....! Holy Cow! Guess we won’t have any issues with pipeline capacity to get rid of whatever we find.

https://www.google.no/url?sa=t&rct=j&q=&esrc=s&source=web&cd=&ved=2ahUKEwjgkO3NiLzvAhVliYsKHf_nD00QFjABegQIARAD&url=https%3A%2F%2Fwww.ogj.com%2Fgeneral-interest%2Farticle%2F17290828%2Fbg-group-to-make-offer-for-aventura-energy&usg=AOvVaw28amZByCcytmKK1sVkxhYb

Coho flair was pretty big as well .......

35 has gas according to Spangle

41 is the oil zone that is now plugged and abandoned

Let’s keep the facts straight and not wander

Deeper rooted problem in the company because the first pipeline in 20 years was delayed a few months during a pandemic? Jesus, look at some of the delays of pipelines they have tried to build in the U.S. You can’t be serious.

Casc and Casc Deep and Chinook wells classified as failures? Drilling with the biggest rigs they could get their hands on on the island, modified the rig with a top drive now, switched to oil based mud, and importing an even bigger rig from abroad now because the local onshore equipment just isn’t up to the size of the finds, conditions, and depth of penetration. Silly management, what are they thinking. I’ve worked in the oil and gas industry for 25 years, and I can tell you one thing, if there’s anyone who knows more about drilling oil and gas wells, it’s a dentist. The dentist that drills multiple holes every day.

Largest testing equipment on island too small to max out flow. I asked Paul a question directly about the size issue in a webinar Q&A and he stated they still get good enough data with it. WTF does he know ..... By all means, huge failure right there.

Pressure logging sensors down hole that ran out of battery cause everything went on lockdown and they couldn’t take them out of the hole.. WTF is that, delays are not acceptable team? What were they thinking?

Should have tried to import much bigger equipment even though that would cause a huge delay with the pandemic. Heck, they should have just pushed the limits of the equipment that was there and hoped it didn’t explode. You only live once right?

They should have just drilled further as well and taken a tremendous risk to get down further even though they saw that the high pressures and well bore conditions were indicating that it would be a good idea to stop to play it safe. Sooooo stupid. I would rather have a management that risks all my invested capital by pushing the limits to the point of a blow out or stuck pipe.

Let’s rename the company Deepwater Horizon, we clearly have the wrong attitude in management.

By forcing the shareholders to wait a few months extra while sourcing the best equipment available locally for a decent price, and at the same taking steps to import higher spec equipment, I think the management has shown they are a reckless bunch of monkeys, and should be switched out with a few posters on this board who know not only all the intricate internal details of what has happened the last 18 months, but are also experts in geology, geophysics, physics, drilling, logistics, equipment certification, and last but not least pipelines and associated permitting.

I look forward to this new short sighted approach for short term stock price gain that exponentially increases the chance of a black swan event. It’s only money, and anything short of super high risk and volatility are just not acceptable in today’s market world. We need it all, and we need it yesterday, anything less is a failure. De

That was like a financial rap battle Beckman, and you just got beach slapped. Do your homework next time.

Nice summary Ginmunger, it’s really quite incredible potential we are sitting on.

Bully1985 - I’m here to be the owner of a nice chunk of a mid cap company without having paid mid cap prices. So far, working out very well. Only mistake was de risking along the way from initial 800k share position before Coho was finished. If I still had that and we went another 200% from here, we’re talking silly money. I don’t even know what I would spend it on really, but it would be crazy fun.

Tobin - if we get bought out, I will look to put TXP profits into some “safe” dividend portfolio and call it a job well done. Hope that doesn’t happen for a long time or ever really. Have every intention of seeing Ortoire through, and hope that Touchstone doesn’t start going off on tangents trying to build an empire. Things next door would be okay, but I get the impression from Paul that we don’t need to worry about this empire desire as they figure there is enough to do for the next 10 years where we are already, and he seems keen to keep the eye on the ball there and not get distracted. The upside is there as you highlight, we just have to sit back and let the team unlock it.

IMO, DYOR, WTFDIY and all that

Beckmans - since you want to be such a smart donkey, I’ll tell you why I am not impressed at all with your knowledge of Touchstone. Royston was not drilled first because there was no road suitable to transport a drilling rig to the site. This is currently being upgraded to a good enough road. It is also a deeper target than Coho which is more challenging and would require more of the drilling rig. If you look at the map you will happen to notice that Coho is right next to what? The initial targets were chosen for very good reasons concerning risk and cost, this also included existing things like well log quality, legacy production data, and general understanding of the surrounding areas (they also have Shell’s data for the areas adjacent to the block).

So, nice try, but you just showed how far off you are from having an understanding of what Ortoire is and how Ortoire is being developed in a very sensible way by an excellent team. But anyways, please leave and sell your shares, we would like more at these prices. If you have something better, go there, with everything. Many of us have been around since 0.20 cad days, and I can tell you we saw something interesting then, and every time we drill it get’s even more interesting.

None of us are counting anything not proven yet, but we are assigning a certain probability of success based on the information we have. Royston has after all been drilled before with 700 ft. of gas effect, and even though you are probably ignorant of the drilling methods in the 1950’s, many of us are not, and we understand how things observed or not observed at that time are due to these methods. What we found in the first 4 wells drilled is also highly valuable for further drilling on the block, but there is still room for surprises.

Hope it turns out well wherever you decide to place your funds, but don’t come in here and spread false information when you don’t actually know what you are talking about.

Beckmans - Bye bye, don’t let the door hit you on the way out. Glad you are selling, plenty of us are still buying. Be sure to check back in on the share price from time to time to see what you missed.

Don’t bother checking in here, we don’t need people saying silly things like Paul can’t keep his stories straight. Complete nonsense and something you just made up for whatever reason.

You said Royston was in Q4, it’s in Q2 !!!

Good to get the word out on TXP though.

And stop letting the world in on our BB secrets, don’t want to get flooded by a bunch of leaches, and ruin the quality. I believe I was the one that brought PTAL attention over there, but maybe I’m mixing something up, doesn’t matter. The first rule about fight club is .......

Sometimes it takes a few days before videos like this are posted, but someone will post a link when it is. I read somewhere else that someone mentioned a week, seems a bit long, but idk.

You’ve heard about the main parts already, but it’s always nice to read body language, and Paul is in a very good place at the moment, very confident, and smiling inside. The part I liked the best is when he was talking about institutional investors liking to get in at a discount on a capital raise.. Not gonna happen Paul said, we don’t need it. Body language was like a father telling his son that “you know boy, life isn’t fair, and when you procrastinate it has real consequences”. So to all you Institutional Investors - suck it up and buy in the market. You’ve had your chances, but the train left without you.

Don’t hold me to this, but I think it was maybe like 60 producing wells? Some are swabbing (look this up - quite cool), and some are producing over a hundred. There is info in older presentations, and decline graphs and such. Last drill program was like 10 wells .... in 2018. I’m on phone, so not easy for me to look it up right now.

The interesting thing is what if we look deeper in the west, much deeper ...... I only remember one well which was drilled deeper than the simple wells, but not that deep. They didn’t want to drill it, didn’t think it was a going to be good, but was license requirement so they did it anyways, and it wasn’t good. I think they ended up producing from a zone further up though. Seems like decades ago after all this excitement at Ortoire.

200 has been mentioned as long as I can remember back to 2018. The extra may be referencing production wells at Ortoire or they have added more targets in the west.

This drilling activity was stopped to save money and concentrate on Ortoire. They are very simple 14 day wells and cost only 1 million usd compared to 4 million for the deeper Ortoire. Production is small per well, but the pay backs are quite fast, especially with these oil prices. We will have money to really crank up the drilling here when the wall of cash comes. Hopefully we can get some longer term SPT reform as well increasing volumes and before the current deal runs out.

I think the minimum 120 days a year for the new rig is just to have a minimum number in the contract to defend moving it to Trinidad. I think it’s gonna go 365 for TXP, and a lot longer than 3 years.

The telescoping Derrick should significantly reduce mobilization and demobilization time and cost compared to conventional derricks.

Always better to be operating well within your technical to be pushing the edge as well, this is where you can get out of trouble if you have extra power, but get stuck if you are on the edge.

They have not been hanging out at Chinook for 6 weeks, they didn’t have the testing equipment available due to refurbishment and certification. Sounds like they had to order some new parts from abroad, and we all know that shipping time is crawling now with Covid. Add to that customs on the island and other paperwork for certification, and you can easily get a delay like we’ve had. Good news is we have top notch kit for the coming tests that has recently been inspected, tested / repaired. Certification is gonna be valid for a year or two I would think, although this type of equipment is a bit different than the types of oil related equipment I have been involved with for certification. Only thing to say is communication could have been better this one time, but this is being addressed, so all is good.

Did you also notice he said current production of 1300 bopd is more than paying the bills at these prices (which are also without SPT currently. So we still making a profit, and then this will increase massively in May with Coho, and go nuts at the end of the year with Cascadura / Chinook production.

Capital Raises sound very off the table now. Like very off the table which is Fantastic. Where’s Ross?

The location of Kraken Cretaceous in the updip of Venezuela and related fields in Guyana is not something to under estimate in the slightest. You can see that Paul is quite keen on getting down there when the time is right. I’m very excited about the possibilities for something so interesting on land near a pipeline.

The science project oil testing that happened due to delay (and wouldn’t have otherwise) could also open up a treasure box of drilling targets in Chinook. The number of potential production wells in Ortoire is already 8 Casc 8 Chinook, Chinnok oil (who knows), Royston succeess could add another 4 + #1, plus 21 exploration targets, plus 200 on west side of island, so like 21 production = 21 exploration Ortoire = 42 and then 242 ish in total. Just think even 21 deeper production wells , that’s drilling constantly for say 3 years, plus exploration. Then there’s the 200 shallow wells, which are like 2 weeks to drill plus moving around so like 18 a year per rig, and then looking deeper over in the west. So Paul said two rigs drilling, suppose 3 parallel might be pushing organization too much, or local supply chain? Anyways, will be popping out drilling and testing results at a pretty seri

I like the fact he recognizes that some people have eyes on the ground, and that this is unfair, so TXP will have to publish information around events more often. Very good news, and we will get testing as it happens.

Kraken timing - I think I would rather see production drilling at Cascadura and Chinook after Royston to really get that cash flowing. They need the gas, we would do well to start filling up the bank with cash, and then we can use the other imported rig for Kraken. Maybe get both rigs going on production wells first to warm up the imported rig on a well or two before Kraken.

Even if Kraken hits big time oil, it’s not like we can produce a massive amount without an oil pipeline, maybe some kind of off take agreement is needed as well, and this will be a delay. If we get the production wells going and cash flowing it will help to have two rigs Drilling simultaneously in 2022 and beyond. Starting to pay a small dividend will increase the interest in the company, and help to support stock price further.

A refurbished rig should have had all of it’s hoses changed, but yes, there always can be issues. How long was the rig idle? What was the condition when it was stacked? What kind of preservation was implemented? How old is the rig in general? How old and what condition are the really important parts? How thorough was the refurbishment?

So happy he confirmed this releasing every one, the least they could do considering the delays so far.

So we have a conveyor belt of triggers (6 including Coho pipeline completion) plus hopefully spudding Royston which make 7 the next 7 weeks roughly. 4 gas test, extended oil test, Coho pipeline, Royston Spud.

Maybe he has another zone to pull out of the magic hat?

Ok, 5 RNS’s in the next 6 weeks. 4 gas tests and 1 oil test. Still not a good time to be sitting the sidelines waiting for a cheaper entry. The fire sale is probably over.

Paul mentioned that they were not planning on testing the oil zones if they had had the gas equipment on-site ready to go. This is interesting as the market has reacted a bit negative to news of the oil, which is actually a bonus caused by the delay of the testing equipment. Kinda makes that number of additional targets to take a look at multiply and also is a quick on stream source of revenue if they can truck it at the start.

Would have never heard anything about the oil, so now we have an extended oil well test, and 5 different gas zones to test where he indicated that they would probably release them individually along the way. So 6 RNS’s before the end of April, that’s about 1 a aweek, and probably not a good idea to be sitting on the sidelines waiting to get back in cheaper.

One should never go all in they say, but in certain circumstances the risk vs reward could certainly justify such a move. There is a very low chance you would walk away from TXP empty handed. Compared to Gamestop and the ESG markets, or just general markets in general, Touchstone feels a bit like sitting in gold to me.