Member Info for Proselenes

Sell of the "back of a boat"........................ and that just about sums up the interview.

To put an FPSO in place would take most likely near 2 billion dollars investment. Ask RKH, ask HUR........... that someone can suggest that its so simple to do.............well............

I read more into Leo walking off into the sunset recently............ that said more about things than a lot of others.

New photo on the PANR Twitter feed

https://i.ibb.co/5ncPh8S/PANR2.jpg

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Problems are to be expected on wildcat drills like this. Well instability being a key risk..........

Not good news if delayed, the rig day rate will start eating into cash levels.........its expensive to overrun.

What was the terms of the licenses ? Normally there is a minimum depth they have to drill to in order for the well to qualify as completing the requirement under the license terms. Is this the case here ? If they cannot get to any mandated depth on this well then they will not have qualified under the license terms if that were the case.

So if they have had problems it makes sense to keep drilling to TD because if you lose the well before TD then there is a chance it may not qualify under the exploration license terms due to depth not being met, if thats in the license requirements.

Touchstone from 7 minutes in. Malcy states...... masses and masses of upside to come from TXP......

Malcys 2021 bucket list.

https://www.youtube.com/watch?v=aI900LtYJEQ

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Just remember.........when Desire was drilling in the Falklands it was said there was a person in the bar who spoke with the rig crews and knew everything going on................and of course..........it was all designed to ramp the price up with false rumours........and lots of people lost a lot of money believing nonsense rumours posted on bulletin boards by "in the know" people who were there close to the drilling...........

LO could fly someone to the Bahamas and have them sniffing around for news with their tea money. Funds controlling billions of dollars have their ears to the ground all over the world. Information is vital.

The rampers on here will have you believe their "chosen one" "in the Bahamas" is going to post, to them, all the news for them to share on bulletin boards free............. Yes yes yes yes.......of course. Nothing to do with ramping or trying to create a rumour to spike the price upwards to sell out of their losing positions...........of course not...............its all all done "in the best possible taste"........... LOLOL

Was there not a rig crew change recently that the rampers were ramping about........ since that claim was made the share price has gone down............... which suggests if the rig crew change rumour was correct then the rig boys aint telling very positive stories in the bar are they......... LOL

I think all BPC holders will hope that LO did not get a sniff of bad news on the rumour mill and so dumped the rest of their holding (at just over 2p levels) to not inflict a nasty loss on their guaranteed 15% profit on 2p.......and so save BPC from having to pay them back the lost profit on their 15% guaranteed agreement.

Things don't get proven with 1 well. Casca is currently only what's proven on the first drill. Until Casca Deep flow tests successfully its not counted. I think Royston will be around 750BCF... But will need 2 or 3 drills to prove that big size.

Nice to see Coho production on schedule for end Q1

Beacon Securities Update

Touchstone Exploration Inc. (TXP-T, TXP-L) Catalysts On The Horizon January 29, 2021 Kirk Wilson, CFA (403) 819-5280 kwilson@beaconsecurities.ca

Event. As the end of January nears, investors are likely anticipating news on several fronts from Touchstone. Each of the events are important as the company continues to de-risk its Ortoire Block (80% WI) in Trinidad.

Chinook testing delayed a few days Cas Deep imminent. Issues related to Covid continue to affect operations as various pieces of the required gas testing equipment have been held up at customs. The result is that testing of Chinook will be delayed for 1-2 weeks.

Cas Deep testing still on schedule. Once the service rig has completed its work, the testing equipment can be moved back-and-forth between Chinook and Cas Deep such that results from Cas Deep should still come before the end of Q1/21. Expect a 3-test program of the Herrera sands at each of Chinook and Cas Deep. Road construction at Royston underway.

The next exploration well, which has the potential to be the largest yet (100-500 bcf possible), is nearing as the access road is being built now. Construction of the lease will follow, which should take ~30 days. So let’s say the first half of April for a spud. Tie-in of Coho still pending approval. Once TXP receives environmental approval from the ministry, which should come any day now, the company can begin the process of pipeline construction.

We continue to expect 1st production of natural gas by the end of Q1/21.

2022 forecasts. We are rolling out our 2022 estimates that includes 4 development wells at Cascadura/Chinook. This will be yet another major milestone as TXP moves away from only drilling higher risk exploration wells. We model an average of 19,000 boe/d, which compares to our expectation of 1,300 boe/d this quarter, and should generate FFO of more than double the capex.

Conclusion & Recommendation: TXP has several catalysts over the next few months that should continue to de-risk its nat gas exploration in Trinidad.

We maintain our Buy rating and our C$4.00 target price.

Interesting that LO have dumped a load of stock and gone below 3% as per the RNS out after close Friday.

https://www.investegate.co.uk/bahamas-petroleum-co--bpc-/rns/holding-s--in-company/202101291745424445N/

They are guaranteed 15% so why dump ?

The rampers have been posting on the bulletin boards that LO must have been given nudges and winks to hold all their stock......and this is bullish.

Well, I am sure the derampers will now be posting on the bulletin boards that LO must have been begged and nudged and winked to take the call option to raise more money before P1 results, and so have dumped the holding ready to take the call option and then dump those shares as well........which would not be bullish at all.

Time will tell........

Is a late or after close Friday RNS coming ? Or is it just margin players are getting over-margined with losses now and having to sell ? Or crew change rumours surfacing ?

Something is kicking this off............what is it ?

750K dump at 1.85p

Pressure will be building on all those playing with margin............margin calls coming in thick and fast possibly.

BigSi..........if the P-1 well is a failure...............eg they do not have lots of net oil pay.........and end up with just "oil shows" or "Water" or nothing at all............... then yes, I expect the share price to go down to 0.5p levels. I have been generous with my 1p fair value target............. it may never recover to that level, but I would hope for the suffering ex-CERP holders it might.

Hoover.......... this is "stranded" offshore oil if oil is discovered. Given the massive cost of appraisal work needed I would not value any find over 50 cents a barrel in the ground for offshore. And dont forget, this drill will not "prove" 700 million barrels. it might highlght the potential for.......but it will not prove it.

Proven oil requires extended flow testing, declaration of commerciality. From there it proves only a small size around the well drilled. Then you need to drill lots of appraisal wells and flow test them to gradually increase the area "proven" to have commercial oil.

This is a "technical well"................thats all. The company has clearly said its technical and they hope they have enough success to then extend the license into a new "exploration period" where the requirement in that period is to drill another exploration well.

Fair value ?

Perhaps 1p if P-1 fails to find hundreds of millions of barrels of commercial oil (eg duster or finds only "technical" success with some oil shows..........

If P-1 strikes good net pay........fair value around 6p

Any price targets over 6p are pure BS.

Well testing starts next week..........February is going to be fun.

I would imagine many of the January sellers will be quiet for 4 weeks, they will be bed and breakfasting for 20/21 tax year end in April.........so they will likely all be planning to buy back in later in February to "get in" before Chinook test results come out.

Post spud shake out should be completed by now, should be left only with people who are in it for the drilling results now. All those looking to short should have their shorts in place now, either by spread bet or loan stock selling.

Hopefully a run of a few blue days now.

Me myself, cannot be bothered with the trading aspects, just wait for the drill results.......that is the only thing that matters.

Prospect........yes, its now showing BPC and Potter again. Was not earlier.