Member Info for Scott22

Trek: I used to like charts back in the 80’s but I finally figured out that they work best after the fact. At least for me. They work okay in a rising trend and work somewhat in a falling trend but charts can’t predict a reversal (and in October 87 everything that I owned had an instant simultaneous negative reversal followed by quick positive reversals). But this chart in interesting. Cannot be a cup with handle because the handle dropped back to bottom of the cup. But it could turn out to be a very nice double bottom, depending on where share prices goes from here. A nice bounce above US $2.25 in next few months would make a nice double bottom appear.

The four legacy commitment wells were for 2021. So the two upcoming Coora wells complete that package.

Are there additional commitment wells for 2022? If so I guess they could knock those out pretty quickly if they are not ready to go back to Royston Pad by the time the two Coora wells are finished.

My big question is about the Hererra sands deep to the legacy wells. XM has wanted to do a test of those sands for a long time. He likes turbidite sands. ) They have decided that the first Hererra test on legacy lands is going to be at Coora. Will they just extend the second Coora commitment well a little deeper to see if there are hydrocarbons there? They could still plug it after testing and produce it as a legacy shallow oil well at a few hundred bopd. There was some speculation a while back that maybe they were waiting to see if they could extend their land package on legacy lands before proving any hydrocarbons in Hererra there. But still Trinity could drill their own Hererra test if they wanted. I don't know who owns the rest of the acres around there. TXP has a total of 6400 net developed acres in 6 separate little blocks - though Coora 1 and 2 are contiguous and might equal 1000 acres. As a comparison Royston Field is 4800 acres.

So sorry, that was for helium one board.

Zephyr is a UK shell company that is drilling for oil in salt sandwiches in thebes Paradox basin in Arizona but also just permitted a few helium wells in Montana. Their press release about the Montana permits talks about the hunt for helium sources.

“A New Gold Rush. There is still a lot of helium hidden away in the earth.
That seems to be continuously proven by discoveries like the enormous helium reserve recently found along the Tanzanian rift. “.

Zephyr is a UK shell company that is drilling for oil in salt sandwiches in thebes Paradox basin in Arizona but also just permitted a few helium wells in Montana. Their press release about the Montana permits talks about the hunt for helium sources.

“A New Gold Rush. There is still a lot of helium hidden away in the earth.
That seems to be continuously proven by discoveries like the enormous helium reserve recently found along the Tanzanian rift. “.

So sorry??. I though you were talking about a BBC business show. So much recent press about guyana/surinam oil trend. But I guess we will have to wait for a discovery well to have anyone in UK talk or write about our Kraken. ha, ha. (my last irrelevant post too - at least for awhile).

Lexion: What did Stephen Fry say on BBC today? Can't find anything and also nothing on ADVFN chat.

Agree the company needs to get Kracken. But in the meantime (there are a couple of weeks to March 14 reserves report and maybe more general update) it can’t hurt to chatter a little. I was intrigued/entertained by one surviving barrel of rum stained black in the deep by black ink from the monster Octopus that sank the ship.

Meanwhile the Guyana/Surinam trend is just getting better and better. A monster hydrocarbon resource. That makes the geological sense of finding oil at Cretaceous Kraken prospect more and more plausible. XM has been thinking about that for a very long time. They have also learned some things from the most recent seismic testing that they have not yet shared.

Tobin and Lexion: The Kraken Rum website is a hoot. It is about dark rum. "If you’re reading this, it’s time—to escape the mundane and do what’s never been done. It’s time to step into the dark. How can you get there? With a rum as dark as the abyss and a Beast feared throughout the world."

The story is in olden days a ship with rum returning from Caribbean was sunk by sea monster (Kraken) and only one barrel survived, deeply stained by the giant octopus' black ink.

https://www.krakenrum.com/

World deserves a break.

I like Minister Young. I think he is trying hard and would to help TXP (which also helps NGC). Trouble is pandemic, bureaucracy, inefficiencies, and yes Shell's games acting in their own interests. Maybe we will make some progress soon. I think it would help if paul baay would say, "This is a real critical time and I am going to spend the next three months in Trinidad assisting the team in whatever way that I can". That would include hands on negotiations with the government (including energy ministry and NGC) and with Shell. And other possible interactions as well.

Meanwhile I am eager to see the star valley rig on the coora drill pad and the start of drilling there. I know that XM has been interested in an Hererra test on the legacy side for some time. Wonder if they will drill one of these two wells deeper to see if anything is there. Don't forget they stopped at intermediate sheet at Royston 1 - so they will drill that again and also the sub-thrust there. Then they will go even deeper to Cretaceous Kraken. And then hopefully back to cascadura for some development wells. Don't forget Cascadura and Cascadura Deep never got to the intended depth. Cascadura Deep should be renamed Cascadura Not Deep or Cascadura Deep Wannabe. In both Casacdura wells they had to stop because of beautiful gas filled high pressure reservoirs higher up that were wonderful discoveries that can be developed. .But there is more to explore too at Cascadura.

Anyway, wish Paul would head to Trinidad for spring and summer.

Lot going on with Minister Young but no mention of TXP on his twitter feed since January 7.

He had specifically promised to put pressure on Shell and get Coho on line by end of year. He had agreed to go to a "first gas from Ortoire block" ceremony (invited by XM). So frustrating not to have that little divoyt of gas flowing. More so because the Cascadura development plan still not signed off on, even though TXP ordering separators and other equipment being fabricated in Canada. NGC has to push evrything along and support TXP. How can TXP develop the Ortoire block without getting some cash flow (wall of cash) going.

Tobin: "Trinidad is an island so other than domestic power the use of NG is limited; instead it is used industrially principally methanol or to LNG. Unfortunately the value of NG for these purposes is low."

NG is used for ALL domestic power. There are multiple profitable industrial producers. There are 4 LNG trains all set up and substantial exports of LNG but also major unused capacity. The value of NG for filling an existing LNG infrastructure for export is at the moment very HIGH VALUE.

Still hope they want to drill these wells and start a relationship of some kind with Helium One.

Total is having a tough day - they have 10 B invested in LNG with Russia. They have a go green gradually strategy. Maybe this would be a good little project for them. I can tell you that the goal of providing 10% of world's helium supply would be a lot more likely to come true if we find a partner to help us meet that objective.

Quantum Star: " I don't believe DM and BoD have any intention of turning this company into production."

I think you are wrong. Of course there is a price at which they would sell - hopefully a high price. But I think it is there preference to become a producer and eventually supply 10% of global helium needs from a Tanzania producer with good ties to the community and the government. I think the Tanzania government also would favor this approach. My own view is that they will need (or at least benefit from) a partner with helium expertise and operations elsewhere and connections to global helium market, but they would rather not sell the whole operation.

smasher: The whole Coho thing is totally confusing. Coho discovery was BEFORE any agreement of TXP with NGC. So TXP they had a deal (or at least a tentative agreement) with Shell to send the gas there. The Coho site was chosen because the structure while small was promising AND because the structure was SO CLOSE to the central block processing facility (so easy to hook up). The central block processing facility operates at about half of capacity since there have been no new wells drilled in many years. TXP was presumably going to negotiate a price with Shell for gas delivered directly to the shell facility. XP was going to (and indeed did) build the pipeline.

Well all that changed with the NGC contract for all the gas from the Ortoire block at a fixed price at the wellhead. TXP Primera subsidiary (their construction arm) already had the pipe and built all the facilities for the Coho well pad and the extension line down to Shell facility (very close by). They constructed the pipeline. So now NGC will buy the pipeline extension and negotiate a price with Shell. TXP is not involved in that - they just get the same price at the wellhead that they get everywhere - and eventually they will not own the collecting system - NGC want to own and operate that as they will do elsewhere in Ortoire block and as they prefer to do everywhere in Trinidad. Since Central Block has been operating for decades, it is likely that shell has their own collecting system for central block but I do not know that for sure.

Anyway at this point why would it not be NGC fixing a price that shell will pay to add the gas to their system. How would TXP have anything to do with that. I suppose NGC wants more than the $2.50 so they can pay back the pipeline costs that they will have to reimburse TXP for, and also will want to have some profit on the transmission. But with current natural gas prices they can still give shell a good price if they are not being greedy. Anyway, get it done and turn the spigot. The way I see it this has to be NGC and not TXP that cannot make it happen.

All depends on the details. 200 million shares would be okay after a discovery at a much higher price if it went to big partner for enough cash to jumpstart development. 200 million shares at current price or as options to insides at current price would dilute the heck out of current shareholders and would not propel the company forward. They said “for cash” so I guess that would preclude option grants for those shares. A few questions seem warranted.

Today has been a pretty nice day so far. But there are always worries with AIM micro caps. I don’t think DM or the board are into shenanigans or that they want to devalue the common shares, because they have a lot of them - and options for a lot more. But “trust me” nit my favorite AIM vocabulary.

Saskon wouldn’t thrill me on face if it. Largely unknown, little recent activity, no completions and testing set-up, no connection to helium drilling or helium supply chain. But if they are cheap and end up doing a good job and making a commercial discovery it would be okay.

But I was hoping for Total or another big company with all those boxes checked. Why would they go from Michell to a company with less scale, less financial stability, less capability overall.

rhertig: I do think you are right. Royston 2 will give them information on the intermediate Herrera and the subthrust too.

So they will drill right through all royston zones on the way to crestaceous Kraken. If Kraken is dry, why couldn’t they plug the deep part of well bore and then complete whatever higher hererra zone or zones they choose, based on information from Royston 1 and Royston Deep.

120 mg of caffeine versus 60?

video from touchstone twitter - also on FB

https://twitter.com/touchstoneexp/status/1494545818472177666?s=21