Member Info for Scott22

Wow, that was bad - will try again.

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Reminds me that TXP got lots of old data from Shell including specific well data on the well Royston is twinning and many other old well bores that helped them shape their entire plan for Ortoire block and pick their targets for first phase of exploration. Now Shell is seen as the Coho villain.

wonder where they got the 3D seismic on a okra block city? just says they “received” it. I don’t know think TDP was shooting seismic there / just over by Royston in middle of Ortoire block. Wonder how old the Coora 3D seismic is?

Notice that he (Stuart Young) says the Coho gas is going to supply the National Gas Company of Trinidad and Tobago. No mention of Shell. Getting that done is August would be a good step.

I just copied this post into my notes and I will repost it July 16, 2022 and July 16, 2023 - with share prices. Good luck all. Still my highest conviction small cap high risk/high reward choice.

I like the sound of "main chamber" for the reservoir at 600 meters.

And remember that the two best targets and the primary targets for this drill (with best chance of great seals) are in the deeper half of the well and yet to come.

Well everyone was expecting all the good news so maybe baked in to share price a little. And many not expecting the bad news including political turmoil and social unrest and fear of unknown. In any event sentiment feels pretty bad at this moment.

But you pushed the "POST" button first! It was kind of reassuring that our two replies were pretty congruent.

In response to Adon30, they have identified a deep prospect to drill while they are drilling the shallow commitment wells on the legacy blocks with the new rig. It is an Herrera test on the Coora block.

I think that Well Services #60 is actually sitting on the Royston Pad. If not, it should be.

Royston is being drilled with the refurbished biggest on the Island Rig - Well Services #60. All personnel are on the Island and have passed covid requirements.

The new Canadian jackknife rig coming from Houston is more technologically advanced. It will drill the shallow legacy commitment wells first to get the bugs out (and one deeper test there). Then it will drill some infill at Cascadura - then be all geared up (I hope) for the Kraken well!

Not enough gas seeps into mud during drilling to draw down the reservoir. For that you have to flow the well, measure pressure drop, then cap the well and measure the pressure build up.

David just means that the helium is accumulating beneath weak seals from which it is continuously leaking upwards. Thus to maintain a healthy helium concentration under that kind of seal there must be continuous migration of helium into the poorly sealed trap, recharging it. I cannot wait to see what we find in the two potentially better sealed traps in the lower half of the well depth that are the primary targets as David showed on the seismic review he did a while back. I think that slide is in the corporate presentation.

US trading up 3.5% near open at US$1.23. At current exchange that is pretty close to 89.5 pence so markets seem to be just balancing out. Yesterday US was trading slightly behind UK in terms of exchange rate. TXP is exactly the best arbitrage candidate at least in US with the $50 trade cost on many platforms, but there may some of that. In the end there won't be big gap between any of TSX, US OTC and LSE.

This is all happening pretty real time - the sidetrack was successfully drilled in the last few days and was even cased. So they are off to side of the old well bore and are drilling ahead. They should be at the site of the second helium show (where the drilling broke down only nine meters into the helium charged formation) either now or over the weekend.

This is Royal Helium, another primary helium play - in Saskatchewan. I have followed it since their drilling program started early this year. They have drilled 3 wells at a prospect called Climax and just did an equity raise and now have enough cash to properly evaluate that and one other prospect. They have a discovery at well 3 at Climax where they found a "regolith zone" that was not suspected and has very high He levels (9% on one sample - the rest of the pay zones on their lands are more like 0.5%). They estimate 6 BCF of Helium. They are doing further evaluation of this zone (including a fourth Climax well targeting this zone spudidng soon) and plan to produce it quickly. The only reason I mention Royal Helium now is because it is now trading on OTC in US as RHCCF (just listed in the last week). Before that it was only on Vancouver Venture Board and I could not easily buy it in US. It is cheap, there is a lot happening in the next six months, I am building a small position to keep me interested. I think it s a complementary holding to He1, as is DME. I still have my best hopes for He1 of course, and a much bigger position, but these companies are a little ahead in that they have discoveries and will likely be producing before He1. It will be good to watch how smoothly they get their production facilities up and running. They have a corporate presentation on their website, the news releases from 2021 are there, and there are some good interviews including a very recent one. Cormark and one other broker have targets around $2 Canadian - it trades at 50 cents C or 40 cents US. It is slightly below where most recent private placement was, though each privately placed share came with a two year warrant for 1/2 share at 75 cents. It certainly hasn't had a big run up like DME and it is still largely under the radar, at least in US. You have to do your own DD, but I am interested and I am buying some.

I did buy a small amount today at @ US $1.20. I have been reviewing every aspect of this story and I still like it and it is still my highest conviction holding among my small cap special situation/turnaround picks (which are all of course high risk/high reward.)

Xavier Moonan is still a major part of my conviction. I would say that he (and others) did an amazing job in planning and executing and then publicizing this visit of the Energy Minister to every important TXP site.

I call these shares my due diligence dollop.

has begun..... (not "has began"). I used to say "If you cannot spell it, you probably cannot do it" - but that is no longer true.

It sure is a beautiful rig, and very advanced. But that could mean anything. Star Valley is out of Calgary. I thought the rig was already in Houston. If not does that mean it has left Calgary on way to Houston? How long will that take? Or does it mean that the rig is already in Houston and they are moving it to Green's Port for loading (that is what I hope it means). If so when will the ship be available? When does it depart? How many days (?6-10) does it take to get to Trinidad? (I wish we had a tracking number - I am sure Paul does). Once on the Island it should not take too many weeks to get going on the 2021 commitment of shallow wells on the legacy leases (and they will include one deep test). Wonder what the composition of the drilling crew will be? They want to hire some local experienced drilling personnel but they also want huge experience and technical know-how. Wonder what part of the crew the bring with them.

agree that they should have been putting pipe in the ground a year ago, but you cannot put pipe in the ground if you do not know where it is going, or even what direction it is going.

Paul plans to have Cascadura project producing 200 mmcf/day in 12-18 months. Again mentions that Chinook gas will go there. That will be a lot of liquids too and the wall of cash will be a reality.

https://newsday.co.tt/2021/07/15/young-welcomes-exploration-strides-by-touchstone/

But first steps are to QUICKLY get the Coho well hooked up and then the Cascadura 1-ST and Cascadura Deep wells hooked up. That will get them north of 60 mmcf/day into sales and will provide the funding for the canadian rig to start banging out shallow wells on legacy lands including a deep test, then three cascadura development wells, then hopefully (if Royston is a discovery) some Royston development wells. And don't forget the second group of exploratory wells (including Kraken) will be moving forward at the same time. There is more ahead of us than behind us. But there is urgency to start monetizing what we have already found and tested and is all ready to go. They 1300 bopd from legacy production cannot pay the bills any longer as we enter (hopefully) this hyper growth phase.

https://newsday.co.tt/2021/07/15/young-welcomes-exploration-strides-by-touchstone/

I think the plan is that NGC will buy the Coho pipeline connection and also the Coho surface facilities because that is their policy. Cannot even imagine how long that negotiation will take (said humorously).

I still don't get the Shell impediment at all. The central block is still producing well but at maybe half its peak production. There is ample capacity for the gas and they had agreed to take it. Maybe the NGC wants to run it into the big main N-S NGC pipeline but that is a big distance for 10 mmcf/day. Maybe that is why NGC actually was involved in discussions of a second Coho development well, so the volumes would be greater and maybe would justify a longer pipeline spur to the east (rather than a short pipeline extension to the south).

You are right about any Chinook gas going to the Cascadura collecting site - and from there to the main N-S NGC pipeline. That drill pad is only 1.3 km from the Cascadura drill pad. And Cascadura 1ST and Cascadura Deep wells are only 900 feet apart but were drilled from the same pad so the production end of the two wells cannot be more than 100 feet apart. They just need to have the whole Cascadura development plan finished and accepted and then NGC has to get that connecting pipe in the ground. The Energy Minister wants all that to happen by end of 4th quarter.

Sorry about that. Wrong fish in the title. Night post. Thanks RetFund1 for posting the link.

Here is Paul Baay quote from today….

“ Touchstone is currently completing our testing at Chinook-1 and expect such gas production to be added via pipeline to the Cascadura facility."................