Member Info for Scott22

dai: THANKS! I had not seen that video.

I agree they should push ahead at Cascadura as soon as they get approval to develop the field. They have the long lead equipment to produce 100 mmcf/day. But it is not in place or even in country. The extension pipeline will be built by NGC and they say it will take 60 days - can't start until approval.

Then after the first 100 mm/day is flowing, they have to build two new pads, drill 8 wells, add pipeline connections down to the Cascadura 1 pad for processing, additional processing equipment. They also will be at limit of the liquids they can store and truck so they will need the oil pipeline connection south to main oil line. TXP will have to build that.

Anyway I am happy with 100 mmcf/day this year and doubling that next year. There is a lot to do. Just getting the approval to proceed with field development will be a huge deal.

dai: It is strange. Teslas have 700 pounds of copper (versus 60 for a car with a combustion engine. Not to mention the lithium and other required metals for the battery. Plus Teslas require more electricity which means more power generation and better grid - huge additional copper for just one resource needed.

Yet the people who want everyone to drive Teslas do not want anyone to mine for copper and other ingredients, at least not in their neighborhood. Minnesota is in the central rift valley of north america (we only talk about rift valleys in africa.). It has largest untapped copper and nickel resource in the world. It is impossible to mine any of it. Everyone thinks the teslas and the electricity will magically materialize. (right word that, it is about the materials).

Nick: Only a clumsy mock on the stutter. That is of no matter to me. I like DM. He is highly committed and has built a good team and good relationships with government and with local community. He is a good communicator. If this was easy anyone could do it. If he pulls it off (a commercial Helium discovery this year) I will be happy.

I am of the opinion that partnering with deep pockets and high motivated partner in mutually beneficial way offers best ration of risk to reward. But I might be wrong, I am not privy to everything behind the scenes, and I am totally fine with DM making the decisions that HE feels are best. I think his interests are aligned with my own in pretty powerful way.

happysparrow: thanks, I like the idea of starting in right away with Coho-2 and I am glad they are considering that.

Coho-1 will double production of company from 1300 boed to 2600 boed (gas added to legacy oil). Another Coho well would triple size of company to 3900 boed. Then just hooking up the Cascadura-1ST and Cascadura Deep adds another 9200 boed. That means 13,100 boed by end of year. Full field development at Cascdura with 8 new wells will bring end of 2023 production to 28,000 boed or higher. There are clear sight lines to all of that. (That includes nothing from Royston 1-ST, Royston Deep, or Kraken which have huge oily potential and which will require a separate field development plan, refined by new information from those three wells. And it includes nothing from Steelhead, Bass, Guabine, up-dip Chinook, or more Coho wells on nearby targets as discussed at last London presentation and shown on March corporate presentation slides).

I also think the company should not start their continuous drilling program (whether at Coora, Coho, or back at Royston drill pad) until the Cascadura field development plan is accepted. If Trinidad wants an increase in gas supply (they say they want that badly and it certainly is highly profitable for them right now) they have to help make that happen and TXP should continue their positive and collaborative connections with Minister of Energy and NGC, but a little pressure would not hurt either. If they want TXP to drill, then give them permission to develop the discoveries on the Ortoire block that have a license on. That is the idea of a bid round on blocks of acres. To find new discoveries and then develop them in order to increase oil and gas production on-shore Trinidad.

xviolet: It is odd that a direct one on one interview with the CEO that is broadcast live and recorded is considered a "rumor". Usually that is considered a pretty good source.

Not catching any excitement or even notice from DM words in US. Very low trading OTC in US. 2600 shares so far today. Below usual path to paltry daily volume average of about 33k.

I looked into this a bit. Testing and certification is built into the entire process.Steps include : Planning and Design, Manufacturing/Procurement, Construction, and Commissioning. They witness and monitor all steps of the construction process so that should be ongoing. The commissioning step does not seem complex because it is the end of a continuous process. They witness the commissioning hydrotest. The give provisional approval for first gas and do some additional testing. Does not seem to be any reason for big delays at the end as long as all the steps (especially monitoring of construction) have gone well.

https://www.google.com/search?client=firefox-b-1-d&q=testing+and+certification+of+pipelines+in+Trinidad

josh: music indeed. but a little strange venue to perform a new piece. He also mentioned "oil and gas rig" specifically.

leapinglemming: hard to know. They are testing all the welds before trenching. I guess they have to test system under pressure but that is pretty routine. Who knows what king of certifications have to be in place.

Maybe someone on the ground could let us know when the thing is buried. The right of way is along a road. That cannot be hard to see.

smasher: in my mind Coho has to come on-line by May 21 with a little first gas celebration. If not, what is Paul going to talk about at the scheduled company presentation in London? It is just not going to be a good look for him to be saying “we are almost there” and recite litany of reasons for the delay. Been there too many times. It would be very good to also have the development plan approved by then (really, why not?), but Coho first gas has to happen by that date or he should cancel the conference and go silent until that does happen. I think that both things will happen by then by the way, but I am an optimist.

The province of Saskatchewan has a goal of being a globally important helium supplier and is working with industry to try to devlop their own helium liquification facility to complement the helium processing plants that are being built. Helium can be transported as compressed gas in tanks but tends to leak. Transporting as liquid helium carries a LOT more gas but is not simple. Liquid helium is the form that is needed for supercooling applications.

I'm not so sure the liquid helium transport tanks would fit on a plane. They are pretty bulky and the helium in the center has to be kept at super cool temperatures, insulated and surrounded by over a ton of liquid nitrogen for cooling. There are only a few hundred of these systems and they are generally shipped by boat or truck. They do carry a boatload of helium, so to speak.

Linde has developed special cryogenic transportation tanks marketed under the name HELICS™ (formerly Helicon). Around 250 of these tanks are currently in use around the globe. Richter and his team are able to pinpoint the exact location of each HELICS tank, coordinate the retanking process, and arrange global transport routes. The 12-meter-long containers can be filled with approximately 40,000 liters of liquid helium, which corresponds to around 28,000 cubic meters of helium in gaseous form. At the core of every HELICS tank is a stainless steel vessel filled with liquid helium. This is suspended in a vacuum-insulated space by means of a sophisticated fixture. This helps to protect against vibration and shock, while also keeping ambient heat transfer to a minimum. The tanks feature an extremely effective vacuum, which is virtually free of molecules which would otherwise conduct heat,” says Richter. In addition, the vessels are surrounded by a super-insulation layer and an “icy shield” composed of over one metric ton of liquid nitrogen. This liquid nitrogen slowly evaporates and has to be topped up periodically. By refilling the liquid nitrogen, the Linde experts ensure that very little heat reaches the cryogenic helium. Richter explains the structure as follows: “The insulation layer combines materials that reflect the thermal influx with materials of low conductivity. This keeps the interior temperature as low as possible.”

https://www.google.com/url?sa=t&rct=j&q=&esrc=s&source=web&cd=&ved=2ahUKEwiPhZSziK33AhXIJzQIHRINBecQFnoECCgQAQ&url=https%3A%2F%2Fwww.linde-engineering.com%2Fen%2Fimages%2FUN-portable-tank-for-helium_tcm20-281285_tcm19-588803.pdf&usg=AOvVaw0-6lm3nbJTvu6efxula76X

helium bull: it is important for Tanzania not to lag on developing this resource. Helium One simply does not have enough money to push boldly and quickly ahead. I still hope they find a big JV partner that believes the story and is willing to throw some real money into moving forward, drilling a bunch of wells and starting to build facilities as soon as they have a discovery.

We may be in the foothills but small companies with 2.5B shares have a heavy backpack that they have to carry up that hill.
I hope they can do it. I have some shares but I cannot seeing adding more without a little more clarity on the path ahead.

The main oil pipeline very close - just to the north. But they need a field development plan accepted before facilities are built and a connecting pipeline is built - and that will take many months - witness Cascadura field where they are hoping for final approval in May. The beauty of trucking is they can do it immediately as an extended flow test (taking advantage of current high prices). And they are all set up to truck from Royston pad as they are doing that already on limited basis from the wounded Royston 1 well.

The corporate presentation shows the exact location of the big oil pipeline just north of Royston drill pad - on several of the slides.

deano: The situation (why did the shares slide today) is clear as mud. So maybe my post was appropriate.

At some point they have to say something about their summer plans. With specifics. The what, when, where, with who, and how much that they will be trying to accomplish in their 2022 "year of discovery".

https://www.bnnbloomberg.ca/josef-schachter-s-top-picks-april-20-2022-1.1754535

If you want to listen:

A four fold dilution from 25 to 100 million shares (at the right price) is sometimes necessary and enhances earnings and overall prospects for the shares.

But I have never seen an instance where a four fold dilution of shares from 2.5 BILLION to 10 BILLION would conceivably be helpful or enhancing of anything. Especially when the current share price is not much above where it was a billion or so shares ago. They have diluted this enough. If it can't make it here (at this share count), it can't make it anywhere.

And don't say they are not thinking of diluting it four fold. That is what we thought from 40 to 160 million shares, from 160 to 640 million shares, from 640 million to 2.56 billion shares.

Dai: Share price moves like this either mean something, or they mean nothing. Since we do not know which of those alternatives applies to today's slide, the worry is that someone out there knows very clearly what is behind the slide. Or maybe it is nothing at all, just frustration waiting for the news on finalizing drilling plans.

Tobin: One thing is that the Kraken test will go through the intermediate and sub-thrust of Royston. And will be drilled off the Royston pad. So it will not cost very much. If it is a duster they just move uphole and produce the best zone from the Royston field. (immediately since the trucking facility already there). And they will have a better handle on the best zone to produce baded on results from Royston 1-ST and Royston Deep which will both be drilled before the Kraken test. They have lots of work to do from that Royston pad in the next few months.

I would have agreed with your "few percent chance" of a cretaceous discovery at Kraken before they drilled Royston.
However the Royston sands are right above Kraken and were charged from the same source rock that would charge Kraken structure. Plus the oil being produced at Royston is identical in geomarks as the oil from the cretaceous discoveries off surinam and guyana. And that offshore oil also comes from the same source rock. So anyway I have upped my estimate of a Kraken discovery 10 fold, to 10-30 percent.

I am also eager to hear Xavier's latest presentation on revisiting the cretaceous play of Trinidad, likely after the talk is repeated at Houston next week, if I can get my hands on it. I would love to pick Xav's brain about what he thinks the chances are of finding something at Kraken. He has had his eyes on that structure for a number of years. I am sure he is more eager than any of us to see what it holds.