Member Info for Scott22

Happy Sparrow: via Herman ( Its a last min safety report that was requested, so not that easy. Having said that, they have had plenty of time to complete it and it can be signed off at any time)

The safety report is by an outside independent engineer so TXP has had no way to influence time to complete it (I think they implied it is done and waiting for a signature) and also cannot influence the time to get the right officials to sign off on that, or even the decision as to how many officials will have to sign off on it. It is unclear whether TXP has seen the report, whether any changes have been recommended and will have to be made, whether there will be a requirement to then inspect and sign off on the implementation of any changes. Since it is a new last minute requirement and a new process they can wing it. In fact they have been winging it.

inthevoid: I have re-read the Iliad and the Odyssey every 10 years or so. But I hadn't tackled David Copperfield since 1967.

By the way I only mentioned Royal Helium here because they are about to add a listing on AIM. No one in London is likely to look at them on the TSXV (Toronto Venture Exchange) actually based in Alberta and the successor of the Vancouver Venture Exchange. That (TSXV) is now a pretty serious exchange with small caps with total market cap of 80 billion. Sort of like OTC in US and a lot of the shares trade there as well. But back in the Vancouver Venture Days through about 1999 it was known as the scam capital of the world, a place for scams, swindles and market manipulation as Forbes said at the time.

When I jumped into AIM for first time to buy Helium 1 , I did get the distinct feeling that there are still some listings on AIM a little like the wild west days of the Vancouver Venture exchange. I own Touchstone Exploration, which is dual listed from TSX, Jubilee Metals, Helium 1, and now will have Royal Helium dual listed from TSXV. That is the wild west part of my own portfolio for sure. I hope one or two of them does well. They are a small part of my portfolio but it is the place where 10 baggers lurk. And where some picks fizzle out entirely and die in a variety of dramatic and less dramatic ways. Mostly because the resource they are hunting is not there, or access to capital becomes impossible.

novel yes, but Dickens no. I re-read David Copperfield this year. Don’t know what possessed me. Almost killed me. Loved it

Really nice. JLP been grinding down for what seems like a long time. Maybe it will begin powering up for what will seem like a long time. I think it is worth more than current price. I think I have as much JLP as I want but it is always nice to have one of your stocks in an upward trajectory. Let's go there. Best to all.

Hi every one, have been reading all the commentary and I appreciate it greatly. Inthevoid seems to tap into the essence. Most of the time. Appreciate him too. I have not bought or sold and Helium 1. The risk is can they drill a well and can they make a commercial discovery. Then the risk becomes can they fund the facilities and become a producer. That is a lot. The promise is that the potential helium resource is fantastic in terms of quantity and quality. I really think that the resource is there - and the flaw was with the well bore, and that they can prove a discovery and they can get a quality rig with a quality crew to try it again. So I have the number of shares that I want and I am simply going to let it play out. It is still a little hard to buy in US - big spreads.

I have diversified my bet on helium and have mainly been adding to Royal Helium in Saskatchewan (RHC.V). They have a lot of positives. The resource is not as big in terms of potential reserves and the helium is primary helium but concentration only 0.5% to 0 .8% A LOT more than in natural gas associated helium but a lot less than Helium 1 (potentially) or DME.

They do have wells all drilled and tested and ready to go if they can find capital to build the facilities. This week they announced a direct off take agreement with a big rocket launching company and that cuts the risk a lot. You might dig into it if you want - it is about to be listed on AIM which will make it easier than Vancouver venture market (also on OTC in US as RHCCF). Might be more interesting to board members here when it comes on AIM. They also have a new discovery (nazare that is different and much bigger, if it works - needs horizontal wells with long laterals.

RHC is still high risk but less risk at the moment than He 1 (in my opinion only). Less potential reward then He 1 as well, but still substantial if they are able to follow the plan. Saskatchewan wants to produce 10% of world's helium requirement by 2030 and RHC wants to participate. Province is incenting that to happen. It is a great place to drill. (Helium 1 could get their rig and crew in 2 weeks if they were in Saskatchewan). But Tanzania government is also very positive and supportive and that is a plus for Helium 1 though with less in way of concrete financial incentives. Helium 1 would also like to supply 10% of the world helium requirement.

Anyway, best to all. Have not given up on Helium 1 and am following everything with great interest. I actually got tossed off a monitored RHC board because I kept asking about access to capital and because I corrected an absolutely false statement by one of the moderators. They are looking for a 100% supportive and cheerleading group, while I am trying to determine the risk versus reward of placing my capital there. I like the balance of views here. It is okay to worry, it is okay to be hopeful.

Best to all.

Triplestar: Down to the wire is apt description of the unfolding attempt to drill this fall.

Paul must be getting a little nervous about that one. I am sure he thought that timeline was plenty good to have a lot of firepower for a great presentation.

Don't forget RHC already has had helium discoveries. They have multiple wells at two locations already completed and tested and hooked up with christmas trees at well top just ready to turn the spigot. And they have a LARGE discovery at Nazare just waiting on a horizontal well to see if it can be exploited. That said the size of their discoveries is very far from the potential size of a He1 discovery in Tanzania. RHC has primary helium in Saskatchewan and adjacent Alberta but the concentrations are less than 1%.

RHC lacked ready access to capital to order purifiers to produce the wells and was waiting on an offtake agreement and other requirements necessary to establish a credible path to production and sale of helium within 6 months. BINGO!

Can't hurt though Touchstone operates only in Trinidad.

I keep chanting to myself:

Coho coho all okay.
Well is flowing and nothing leaks.

I should not get triggered by Wright's share gifts, but the timing of this was not good, just not very good in view of situation.

Two weeks ago TXP announced that Coho would be on line in about two weeks (not precisely but it seemed about that interval). Then Friday everyone was waiting for an RNS. The share are slipping back because the PTSD of long delays makes everyone think that something must be wrong. Then there is a weekend so a few more day pass by . So we are all looking for a possible RNS on Monday. We open the LSE site - there is the little flag for an RNS. We pop it open - oh, John Wright is getting more shares. Just tone deaf timing. They should have delayed that until after the Coho presser.

Oh well. My PTSD from Lightstream was way worse and Wright was central to that fiasco. But I did get over it except for these little flash backs. Here the TXP story is beautifully intact, we are in an early chapter, and Wright is very peripheral to say the least. And I have a lot of faith in Paul Baay and especially in XM. I am going to promise never to mention this again. Hold me to it.

Disappointing to see that the RNS this morning is about more shares for him and not about Coho first gas. The old Petrobank shell was used to acquire old TXP and the renamed and traded at US $ 2.06 on Jan 11, 2013. That shell was all the was left after spinning out Lightstream resources which went BK with shareholders losing everything but somehow Wright and friends ending up running the new company that was formed from the ashes - Ridgeback resources. So now after all this time the TXP shares are at US$ 1.20 and JW is getting shares for pennies from grants he got when shares really cratered. Jan 11, 2023 will be 10 years of this largesse, plus salary as COB all this while, with little evidence of major involvement or contributions. Wouldn’t it be timely to have a little retirement party with a cake cutting, soon after the first gas party and ribbon cutting. Paul can be CEO and COB for a while, while grooming a successor for CEO maybe 5-10 years out. Sorry to rant about this but my PTSD from those days kicks in whenever JW gets more shares for pennies. Especially when I open an RNS with other expectations. Meanwhile pre-market trading in US (in general) kind of ugly.

It will be easier with only NGC to work with. TXP has built a six inch line to the Shell central block processing facility. That facility processes central block gas which has some liquids that are separated. (Coho gas is dry and pretty pure methane so not much processing). The Coho gas pipeline hen has to be transported by a 12 km 10 inch diameter pipeline to the main NGC trunk line.
NGC pays TXP at well head. NGC probably pays Shell at the facility after stripping the liquids. I do not know who owns the 12 km pipeline from entrap block processing plant to the trunk line. Probably NGC as they want to own and operate the pipelines connecting to their system. Another little problem is that Shell won’t be ant to handle this coho gas for free. NGC will have to pay th m a tariff. Point of all this is that cascadura will be easier with two parties.

JM makes point (on discord) that once Coho on line everyone will forget about it and just concentrate on cascadura. I agree with that and will post my reply here: However until Coho on line and performing as expected there will be a little worry from PTSD from the saga of delays that stretched two years. Worry about well bore problems, flow rates as expected in 8-10 mmcf/day range (after short ramp), pipeline leaks when pressurized, functioning of equipment, other as yet defined troubles. So getting it on production smoothly and then forgetting about it and focusing on cascadura is important. I am hoping for an RNS before market on Monday (London time) and a little celebration at the Coho drill pad with company officials, local officials, Heritage and NGC officials and Energy Minister Young. And the press of course. Just a few short speeches. Then forget about it.

I would guess they have pipe for Royston-1 sidetrack (less needed because a lot is already in ground) and probably at least contracted for Coora wells and for a couple of Cascadura wells. After that likely the get more than xpensive and possible subject to delays. Just guessing however.

inflation is very real for sure. but here is another gently reassuring item. coho and cascadura wells are vertical wells in conventional reservoirs that will produce for many years. Unlike the horizontal wells in tight reservoirs in US and Canada that deplete very quickly so a continuous drilling program is needed (lots of steel pipe for just one thing) just to keep production flat. Once the initial complement of Cascadura development wells are drilled, that is all they need.

The central block has been produced from only FOUR wells for 50 years. Sure production has dropped off to 50 mmcf/day from 100. That’s why they have room for 20 mmcf/day ofCoho gas. But think of how many shale wells would be needed to produce a tight reservoir at a constant rate for a few decades.

HS: "Pantheon, like all companies in the oil and gas industry, is experiencing significant inflationary cost and supply chain pressures at present."

Tubulars are especially experienced big increases. One nice thing about Royston 1-ST is that a lot of the pipe is paid for and in the ground.

Disappointing blurb, Zak Mir seems to think the recent action is due to the revenue gains based on oil prices as shown by the quarter report.

"A stock which does not normally get much airtime, but has reminded us of the simple fact that with crude oil near $100 a barrel, oilers are very much on the front foot, was Touchstone Exploration (TXP). Here we found out that sales were up from $7.6m to $12.6m, helped by the surge in energy prices."

Wrong on so many levels. The 2nd quarter report came after the move up had started and had NOTHING to do with recent share price strength, which was based on announcement of pre-comissioning operations underway at Coho pipeline (first gas within 1-2 weeks of that announcement) and more importantly the acceptance of the EIA with better timeline to starting the development needed for Cascadura production, which hopefully come by year end 2022 or very early 2023. And what is coming next will first double and then tenfold increase current production, but is at a fixed price so energy prices are NOT the driver. (except for the Cascadura liquids component).

Anyway it would only have taken Zak a few minutes to realize the second quarter results were nothing much with a mix of stuff like higher taxes (an extra million because oil was over $75) , soem capital expenditures (3.5 million on Coho and Cascadura projects), some expenses to to clean up pipeline vandalism. Overall net loss of 262k due to 540k provision for oil spill.

Zak could have bothered to even read the one page second quarter report, which in the last two paragraphs explains what has happened since quarter end. Coho precommissioning operations underway and confirmation from TT EMA that Certificate of Environmental Clearance will be made by September 15.

Sorry to rant but that kind of coverage is annoying when you are following the story very closely.

In thinking about my idea of having an age limit on AIM, it's not that younger investors can't lose as much or more. They can and do. Especially if they go in big on one sure thing hot tip. They just have more time to recover from it. What can be a lesson for a young investor can be a disaster for an old one. And I still find that the special situations high/risk high reward (usually small cap) part of the portfolio (the "aimish" part) can add a lot when it works. But for every ten bagger there is a crash and burn.

The last month for TXP has been monumentally better than the prior 16 months. Let's see where the next 6-12-24 months go. Certainly there are possibilities. The story is still intact, and we are in the early days of watching the chapters unfold. Best to all. See you at the ribbon cutting (in spirit). Hope Paul is there (in person). Confident that XM will be there . Good possibility that Minister Young will make it too. And some other officials including local representatives. Maybe even a Shell person as a make up gesture of good will going forward. And I wish we had someone from the MJ Discord group representing our collective 30 million plus shares and celebrating this milestone as the more important cascadura work plan gets closer and closer to take-off.

Smasher: I know what you are talking about - birth year 1948. I am still managing my own stuff and I still hope to watch a few of my stock picks (including TXP) make progress. I hope to keep learning and am also always eager to exploring new ideas. However I do talk to my son before making any major portfolio decisions and I hope that the time to take the car keys away doesn’t come too soon. It is good to have some feedback. I try to avoid big mistakes and do not want to get scammed. Sometimes I think that there should be an age limit on AIM. I would never have more than 5% of my portfolio on AIM type stocks, except I let it run to 10% if something takes off. I hope TXP pushes that part of my portfolio in that direction. We’ll see.

Joey: Have a good day. Having held this since first day of trading in 2014 I am pretty aware of its trading ranges and where it has been sitting. It has moved off 70 cents. That is called a reversal and it is now in an uptrend after grinding brutal down trend for 16 months. And imminent first gas at Coho has influenced the timing of the reversal. I am just happy about this. It is actually early in this story and the next chapters will be interesting and the shares should move up if there is smooth progress at Cascadura. There is no exploration risk to the next few chapters.