Member Info for Scott22

no picture, no flare - good advice. but he would have to post link to the picture as no photos on Stockhouse

Poster goes by Stockwizard. How does he know there is a flare over there? Is he over there?

In looking at his history I see about 10 positive posts about TXP dating back to date of Paul's Jan 14, 2021 presentation (my first disappointment since I expected a number). Only one post about any other company and that on Valeura Energy from Turkey on Jan 11, 2021. But he joined Stockhouse board on February 16, 2018.

Anyway calling out a flare is pretty dramatic. But the timing would be right. I asked him to fill that in a little.

traded 171,972 on US OTC today (04/05/2021) Was above average.

Good points but would quibble with one detail. At Casca 1-ST they also encountered high pressure and had to stop to save that well. Casca Deep was a replay. They did get a little deeper but that new zone with water wasn’t where they first had trouble with high pressure and gas kicking back to surface. That was at the same zones that tested so high at Cascadura 1-ST.

Personally I think that the next set of numbers (flow test result from Cascadura Deep) is almost certain to be good and that is being under appreciated by the shell shocked market.

Distance between Cascadura Deep and Cascadura 1-ST well bores is only 900 feet. Cascadura Deep experienced the same high pressures and gas kicking to the surface in the two zones (upper two) left to test - that are same zones that tested > 5000 BOE/day in the adjacent well. Plus Cascadura Deep has more feet of exposure to those same gas charged sands.

If Cascadura Deep does not have gas that can be produced at high rate, then something is very strange.

May be time maybe now or soon for board to see if John Wright could step down in order to consolidate TXP leadership with Paul assuming COB as well as President roles . Paul is doing the work anyway. This is a very different company than Petrobank or its other spin off Lightstream Energy. Mainly TXP has no debt and cash in the bank. And the Petrobank spin off (actually purchase and conversion) is where I got my first 3000 TXP shares and started following the company which was boring on surface but had a lot going on with successful bid on Ortoire block, careful study of the old wells and the geology, and then the 5 well drilling program which led to 10 fold jump in market cap - and and now hopefully only a temporary big drop based on failure of Chinook well to add to growing natural gas portfolio. Anyway I had so many shares in Lightstream and I held on because of assurances that the cash flow could easily cover the interest on the debt. That was true enough but not sufficient for the banks to let them keep going. So I lost all my money there but Mr. Wright ended up running the operation as a private company (Ridgeback Resources) as part of group that bought it out of bankruptcy, another way to reduce debt. But it seemed from my narrow and probably flawed viewpoint like a transfer of my money to them.

Anyway, the situation is totally different now (as I said no debt, no interest payments, cash in bank) but maybe it is time to change it up a bit and make sure the whole focus is on win/win for Trinidad and for shareholders as TXP moves forward. Love the staff recently added to management team, especially Xaviar Moonan but also the others who are mostly from Trinidad and have worked hard for the success the company has achieved so far. Maybe we can lighten up the Alberta oversight and input, except those who are full time into Touchstone. It is likely just my PTSD from remote (2014) Lightstream events but today makes me nervous (deja vue all over again) and I wish there were no direct involvement of the old Petrobank crew in making decisions. I consider Paul as having earned his place as a Touchstone partisan and Trinidad supporter and a true convert to the turbidite sands world view. (at least a true believer in the Trinidad turbidite sands model).

Good luck all. Have to confess to all that I added 500 shares today at $1.32 US just to thumb my nose at the market gods.

Only thing that really bothers me so far is upper zone at Chinook not being a gas discovery, but that was my most important number.
If the upper zones at Cascadura Deep are not prolific natural gas producers (step out 900 feet from proven reservoirs) then that would be awful, because TXP has to fill that new pipeline trunk to the Cascadura site. And they have to start sending meaningful natural gas volumes into the system if they are to benefit Trinidad as well as their shareholders. (their stated goal)

But otherwise we can recover from this.

thanks, I missed that

I think characterizing results as “very exciting” is poor choice of words by Shipka. Unless he is meaning like a tsunami or other natural disaster is exciting.

Well what is left to test at Cascadura Deep really is a step out well from Cascadura1. It is only 900 feeet away and the two zones (including the one being tested now) were prolific at Cascadura1. And at Cascadura Deep they encountered the same high pressure gas flowing to surface that was difficult to contain. I hope they confirm that the upper two zones at our “best well to date” Cascadura Deep are still believed to be development of the prolific structures 900 feet away, with proof to come of course (and maybe even some possibility of extending the reserves confirmed at Cascadura1.)

Where is the water in Cascadura Deep. I believe it is in the lowest zone of the three they planned to test. (the one previously untested). Now they are testing the lowest of the two zones they have already tested at Cascadura1 - a zone that tested at >5000 BOE equivalents at Casca1 but is not being produced. This zone can be produced into new pipeline. I think the still have uppermost zone of the Cascadura deep to test - That also tested at >5000 BOE equivalents at Cascadura1 and is the main zone being produced there.

I am assuming that the two productive sands at Cascadura1 are not producing water 900 feet away. That would be highly problematic. Anyway, not totally clear to me exactly what they are saying.

That makes sense - if the Canadian jackknife rig is arriving in Q4, then it cannot be on the Royston site in a month.

I thought that too. But that is not what Paul said in the 3/25 interview. He said it was arriving this month. Hopefully someone will try to clarify this point. I’ll drop a note to IR - sometimes they respond quickly.

He said he hoped to announce a third gas discovery in 7-10 days - that would mean a flow test of the upper 341 feet at Chinook. That only takes a couple of days. (maybe they are doing a pressure release test on the lowest Cascadura zone - who knows - but they either have or are about to have the testing equipment over at Chinook).

I would guess that the extended flow test of the middle zone at Chinook is going to be a science project that adds more information about the geology of the block, but doesn't end up at this point leading to oil production. If there is a prolific gas reservoir there (in targeted Herrera sands) of the size they anticipate, that well bore will be used to produce natural gas and add it to the pipeline being built by NGC to the Cascadura site 1.3 km away. Just my take of course - will be eager to end all speculation including my own.

Paul continues to make these points.

1. No debt. 2. There will be more money will be coming in than they can possibly spend in Trinidad.

Board noodling over what to do with the cash (one strong consideration is dividend - starting small so they can grow it predictably and not have any worry about ever having to cut it).

That is a real tough problem for a board of a small E and P company to wrestle with - no debt and prospect of very soon having more cash coming in than they can spend.

Thanks so much for the link to the March 25 presentation. (the one on You Tube dated March 16 is the March 10 Shares presentation).

Some new stuff there. They are definitely waiting for the more advanced Canadian rig to drill Royston. Paul said it would arrive in Trinidad this month. Logical next wells for that rig would be Steelhead and also a third trip to Cascadura to finally get to that deep target.

He also seemed to say that they would release the test on the Chinook Gas zone in 7-10 days. I thought that the testing equipment was on the Cascadura Deep well but maybe they flipped it over to Chinook. He indicated that the Cascadura deep results would be a couple of weeks. Anyway numbers will start to appear pretty quickly and that is what we are missing.

<>

Do you mean the March 10 interview on SHARES INVESTOR EVENINGS? That is the most recent one I have listened to.

He1 is looking for traps. In Holbrook basin there are two specific sands with overlying seals that have trapped helium over a pretty widespread area. I am sure there are some similar features to generating the helium but the mechanism of trapping it seems very different. Sort of like the difference of conventional oil wells and shale wells. I actually wonder if they could not drill horizontals into the specific intervals they are tapping in Arizona.

Thanks for bringing up the DME story. I knew there was a lot of helium in some wells from SW US but I had thought they were mostly natural gas producers with higher than normal helium component. The area that DME is targeting (Holbrook Basin in Arizona) has a salt cap and has several zones about 1000 feet deep that are largely Helium - only 2-3 percent or less natural gas as compared to 5-10% helium. In fact t Helium was produced from a structure called Pinta Dome for about 15 years and the best well produced over 1 BCF of Helium with virtually no natural gas. So those really are primary helium wells. DME has drilled two new wells, one flowed at 24 MMCF/day with 7% Helium. One flowed at much lower rate with 4% helium. They are going ahead with some development wells and a processing plant and plan to be selling helium by end of year. They seem to be where He1 will be with a positive well among the three they will drill this year (they say Q2 but might slip to Q3 just based on seismic not done and then needs some interpretation and some permitting if drill locations change).

DME is in US which has less overall business risk than Tanzania. They are right near the site of a huge new INTEL production facility that is being built. And close to other technology based He users.

I am not sure of the relative size of the resource. I do know there is room in the world for more multiple sources.

I am intrigued by He1 and think it has good prospects but it is likely all or none based on these upcoming 3 wells. DME is less likely to go bust since they have already got a really productive helium well and are operating in a more proven geology.

So I am holding my He1 for sure. Overall I like it better than DME. But I did put in an order for 500 shares of CME just so I will follow that more closely as I decide whether or not to build a position. DME has already jumped a fair amount based on the discovery wells, and is at risk of some pullback. The upside is probably less than He1 - if He1 hits a very nice structure filled with helium that can be produced. I can see He1 going to 50 US pretty easily if that happens (up 5X) . DME at $5 (up 2 times) would be a stretch in the short to intermediate term, unless there is powerful up move in Helium prices.

Agree with that. I am really hoping that the huge structure at Chinook has 341 feet of natural gas under pressure that will flow freely and for decades. You are totally right that Chinook is very large structure, much larger than Cascadura.

As for the middle zone, they were waiting on testing equipment to be freed up and arrive on site. Maybe they decided to see what the middle zone might do under an extended test, because they had no way to go uphole and test the upper zone for gas. Does make me think that they really are convinced there is gas there in upper zone that required the more robust testing set up. Anyway you are right that everything is noise right now until we get numbers. Sorry if I have been contributing too much to the noise.