Member Info for Scott22

I like the board changes. I also would have like to see two resignations and the exit of John Wright as COB. I am hoping that he is just waiting for COHO first gas, the announcement of Cascadura EIA acceptance, and resumption of continuous drilling campaign. Then he can go out during a little surge rather than at an ugly bottom. I would like to see him of the dole of quarterly share awards. Not contributing much st this point. Enough already. I know from last annual meeting votes that not many share my opinion on. Not many former Lightstream Resources shareholders here I guess. That was brutal and PTSD inducing for common shareholders but Wright and senior management skated right through it. Makes me nervous in hard times to have him in current spot.

mbarnholdt: you write “ Don't see much point of further exploration drilling this year….”

Don’t forget TXP has a contract with Star Valley Rig for 120 days of drilling this year. TXP has to pay even if rig sits idle. Nothing worse than ha Don't see much point of further exploration drilling this year, ving lucrative development wells to drill and paying for a world class rig to sit idle. At least they can use the minimum days drilling two coora wells, then a Coho development well, then Royston ST and Royston Deep and maybe Kraken.Hopefully by time all that is drilled the Cascadura field development plan will be accepted and the Cascadura “A”pad ready to go. TXP is literally stuck in place, and doing nothing is also going to start getting more expensive. Can’t imagine why Coho is not connected - has to happen soon, doesn’t it? Cascadura approval could drag on and on, if it gets highly politicized. Many projects in some US states are blocked for years. But I don’t understand how Trinidad can have bid rounds in 2014, have established minimal drilling commitments that are met, take two years to negotiate a price for gas on the Ortoire block after a big discovery, and then not allow TXP to produce the gas - all in a time of huge need on the island for natural gas to keep petrochemical industry going, to sell lucrative LNG from shuttered trains already built, and to supply all electricity on island. It is kind of mind boggling.

annoying typos fixed. thick thumbs.

Market cap is now 190 million. Cascadura Field is worth a billion dollars (200 mmcf/day of natural gas and 6,000 bpd of condensate - show me how to get a lower valuation). Surely they will be able to exploit Cascadura Field eventually. Then there is the rest.

I bought a little this morning at $US 0.69. As someone said, the gas is still there. If I believe in the company enough to hold all the shares that that I have accumulated, then I felt adding a little - not a top up, just a symbolic 1k shares - seemed necessary at this price

Market cap is now 190 million. Cascadura Field is worth a billion dollars (200 mmcf/day of natural gas and 6,000 bpd of light condensate - show show to get a lower valuation). Surely they will be a little le to exploit that eventually. Then there is the rest.

I bought a little this morning at $US 0.69. As someone said, the gas is still there.If I believe i the company to hold all the shares hat that I have accumulated, then I felt adding a little - not a top up, just a symbolic 1k shares - seemed necessary at this price

Largely agree MJ. The consultants they hired should have been able to help with the technical data. No one can help with the unanswerable questions. What are all the things that might happen and what are all the possible actions you might take if one of them did happen. Seems like biggest risk to environment is sabotage with deliberate attacks on facilities and pipelines. Remediation is prevention by having stable society with good governance and respect for rule of law. We are having problems with that here (US) as well. And the policies and procedures for isolating leaks and doing the clean up are the same for ALL pipelines. The designs of all the equipment have to be optimal. Just think of the care they took on constructing the separators - getting them built by world class fabricator in a world class O and G country to make sure they are state of the art.

They are the construction arm of TXP. Primera was originally a smaller oil company acquired by Touchstone in 2012 and they held WD-4 block at that time. Located in Fyzabad where headquarters are. Employees are from Trinidad and do construction aspects of TXP operations. They also had outside consultants to help with the massive Cascadura EIA submission.
Primera is constructing the Coho pipeline. (NGC will do main pipeline to the Cascadura site). Primera builds all surface facilities. They will have a lot of work in the Cascadura field including installing the new separators built in Canada and all the connecting lines and storage tanks and also building the liwlquids pipeline to the south. I am not saying Primera is at fault in any of this but they are right in the center of all of it. Might be worthwhile how they are incorporated into the whole TXP operation. I think they operate more like a department than a wholly owned subsidiary but I am not sure.

Almost unbelievable. Either there is significant obstruction to the project by environmental arm of government or Primera is incompetent. Or both, but probably the former is biggest factor. Some of the information asked for is at a resolution that is unknowable. Here are some quotes. Think about how you would craft a response. “Please explain the uncertainties associated with the assumptions used in the assessment and the model used.” And - “…because models are simplifications of real systems, the purpose of understanding model uncertainty is to realize the extent model outputs may deviate from possible future situations.”The answers are pretty hard to even imagine. It is more philosophy than engineering.

And to add insult to injury, the other RNS today documents John Wright getting another 17,000 shares. Enough already. This is all happening while he is COB.

Just clear your mind of all things helium one and listen as if you are hearing about this for very first time.

https://youtu.be/Ik54Lj_OiM

https://www.***************************/helium-one-on-track-and-progressing-well-for-2022-drilling-video/412107097

If you had never heard of Helium One and just listed to DM presentation in South Africa in May and then this little blurb from DM and Mike Williams, you would really be convinced that this is a fantastic if admittedly speculative opportunity, which it may well be.

powerful speech. I hope he can help us get our low cost on shore Trinidad natural gas in line quickly.

Months ago we were told there were little details like the names of animals in the area not being in latin. I doubt they have latin consultants available on Saturdays. Would love to have actual transcript of the Saturday meeting. What issues could be surfacing now after years of talking about it and 1600 pages of submission to pore over for six months and responses to pore over for two months.

That is only two days away.

That might help establish new expectations. Would be the first timeline actually met in a very long time.

We still do not have COHO first gas. Star Valley rig is still not fired up. No sequence for resumption of drilling as they move toward continuous drilling program. But hopefully everything falls in place and moves forward more smoothly. Starting with the Cascadura EIA. If June 30 means June 30. Otherwise we are still stuck in the mud.

Have now read it a few times. Reaction is just because there is really nothing new. We have been waiting on first gas at Coho, approval of Cascadura EIA, activation of Star Valley rig at Coora to begin continuous drilling program, announcement of the exact sequence of wells after legacy commitment well are complete. Well none of those things have happened and there is added complication of vandalism. But all those things are closer for sure. And maybe TXP will even be able to use the 120 drilling day committment for 2022 that they have to pay for in any case.

HS: Thanks for link. They are talking about inspecting the welds and having joints free of insulation. This pipe is buried. Did they have to do some kind of testing before they buried it, according to what they are describing in that article.

No 33,000 boe/day company has ever had a $100 million market cap. Certainly not with current energy prices. And that 33,000 boe /day does not include Royston or anything else.

The RNS tells the old story and moves everything back yet again and highlights risk of Trinidad with the vandalism report.

Maybe the announcement that they still have hydro test to come. (how could anything go wrong) is a worry. Or maybe the insane item that they still have 68 feet of out of ground connecting pipe to construct for the final hook-up on the Shell side. Did they forget to think of that? I have NEVER seen an RNS talk about 68 feet of out of ground pupe having yet to be constructed.

Oh well.

MJ: over the top and out of line.

yes, depressing and concerning

alligator: Paul never said a tidal wave of cash. He always said “a wall of cash”. He was very consistent.

well of course I am in - I just don’t know how it works to “pool” shares in administrative way to give uniform voice. I have added a few. Sitting at 103k with a bid in. The delays are frustrating but the value is still there.

If Cascadura can deliver 200 mmcf/day for years plus 6000 barrels of liquids per day, then $150 million is massive discount for cascadura alone.

The number of things that are valued at zero keeps increasing. Legacy lands with 1500 bopd and potential for 2000 bopd - zero. Coho with 10 mmcf/day and potential to double to 20 mmcf/day with one development well - zero. Royston field which can produce 8000 bopd light oil for decades - zero.

All the other prospects on Ortoire block which have been upgraded by discoveries to date (including mighty Kraken) - zero.

Other stuff too (prospects around coho, deep legacy test, up dip chinook. etc - zero.