The latest Investing Matters Podcast with Jean Roche, Co-Manager of Schroder UK Mid Cap Investment Trust has just been released. Listen here.
So guys, please correct me if Im wrong here but PB stated maybe 3-4 wells at Cascadura in total from what we got today - not included Deep. Would that mean 3-4 wells that will produce a little over 5k boepd? So around 15-20k in total for Cascadura fully developed? If this is true and Chinook are the same size (or bigger) we will when both are fully developed produce around 30-40k boepd just for those two? Maybe Im dreaming here..
Register here Erb.
https://www.proactiveinvestors.co.uk/register/event_details/286
Yes it is.
https://ca.proactiveinvestors.com/register/event_details/286
Cormark Securities initiated coverage of Touchstone Exploration Inc. (TXP-T) with a “buy” rating and $3.25 target. The average of the Street is currently $1.73.
Touchstone (TXP-T, $1.32) – Buy, 3.25 Target, Garett Ursu: We are initiating research coverage on Touchstone Exploration. Details: As detailed in our “Emerging Ideas” report from May 29th, Touchstone Exploration’s Ortoire block onshore Trinidad has already provided investors with impressive stock market gains and behind-pipe production that will increase corporate volumes exponentially over the next 3-12 months. Near-term activity should also continue to unlock material untapped resources with the Chinook-1 well (200 Bcf prospect) currently drilling, to be followed by the Cascadura Deep well (500 Bcf plus liquids) prior to year-end. An additional 21 exploration prospects have the potential to individually move the stock and boost future volumes. Based on our current 25 MBOE/d forecast and the attractive operating regime in Trinidad for natural gas (supply/demand, pricing, tax, regulatory, counterparty risk, economics, etc.) we believe Touchstone could generate ~$65 MM of free cash flow in 2022. With results expected shortly from the high-impact Chinook-1 exploration well, we believe Touchstone is a unique and timely E&P investment opportunity.
Recommendation: We are initiating coverage on Touchstone Exploration with a Buy rating and C$3.25 target (3.0x 2022 EV/EBITDA). Not only is the company’s exploration upside not being valued in the market, but the company’s past success is also being heavily discounted given potential volume growth and free cash flow through 2022. – GU
I have an investment tip for you Tobin.
Keep on buying more shares in TXP. We have just started the exploration campaign and havent seen the Mountain of Cash yet. No better investment case in the sector. Future dividends will be massive here. Didnt PB state after Cascadura they would get so much cash that they dont know what to do with all? Well the problem is just bigger now. What to do with all this cash? Hmm
The question is if its 2000 bopd for the asset/license area. The daily production today is on another license area than Ortoire, so in my head they will benefit from this. But looks like this is in need of some clarification - hence why TXP havent published anything yet. TRIN is maybe desperate to publish some positive news, but it will backfire if its not true/relevant for them.
I got this answer after contacting TXP about SPT and TRIN's RNS this morning.
"Yes it applies to TXP as well. There is still a lot of details to be worked out with the Ministry of Energy on how it will be applied. But I'm sure Paul Baay will update shareholders soon"
Xavier Moonans last FB post is encouraging. Linking to the same as smasher in the previous post.
“Wells to keep an eye on” (with fire emojis”.
He would never post that if he knew it was a duster. So he either dont get updates from the drill, or he knows it is a success IMO.
My answer to that would be the same as rabblrouz - Not by a long shot. They startet the exploration program in August 2019 and are on their 3rd drill now. After Deep and Royston they have approx 21 other exploration targets on Ortoire, not counting in numbers of development wells. So if you take a total of 26 exploration wells they are now 8,6% into the drilling program...
And we could have done it this past weekend given that its day 47 from spud today and the team estimated 40-45 days of drilling. We dont know, and the most important thing is that they are doing it safe and right. Should add 5-6 days from TD to news as that was the timeline on both Coho and Cascadura. GLA
Xavier Moonan just posted the SeekingAlpha report with «Ortoire Potential» and lots of fires on FB. Wondering if he knows something at this point. Would be bad posting it like that if Chinook was a duster at this point, so my imagination is flying. Here is for a great result soon!
Speaking about Stockhouse.
TXP is now ranked as #1 in the industry rank of 50 other E&P companies.
https://stockhouse.com/companies/valuation?symbol=t.txp