Member Info for spawny100

Re who are we to question this? I think when we have all sunk significant life changing amounts of money here we have every right to question as opposed to blindly trust in every decision made by a CEO! My gut feeling agrees with you though but I just highlighted what seems to be a contradiction but perhaps you are right Pro the surface facilities are for liquids. Would have been nice to have been clearer on this.

How'd you manage to do that Tonnacombe as it's not open to private individuals?
What jumped out at me was references to surface facilities at Casca and Chinook. I thought NGC were paying for all that? Kind of weird to have Paul saying in an interview that NGC will be a great contract with them paying for all the infrastructure a d then to get a seemingly contradictory RNS on the very same day no?

https://www.*************.net/touchstone-exploration-a-very-busy-period-with-plenty-to-come/

Thanks tidd. Yes that is possibly the way he is playing it regarding flow rates but I wish he'd just come out and say it if so rather than have us continually thinking the deal is imminent.

Ah I see now regarding extension:

Touchstone has been formally notified by the Trinidad and Tobago Ministry of Energy and Energy Industries that the exploration phase of Ortoire exploration and production licence has been approved by the government for a nine-month extension to July 31, 2021. In addition, the Company's 2D seismic commitment has been reduced from 85-line to 20-line kilometres. In exchange for the extension and seismic program reduction, the Company has agreed to drill an additional well to a true vertical depth of 10,000 feet prior to June 2021. The formal amending document has yet to be executed by all participating parties.

Great spud ahead of schedule. Not clear on why licence needed to be extended for a 4th well as I thought Casca Deep was their 4th exploration well? What's not to like is the constant slipping of timescales ref Coho approval and NGC contract. We were expecting Coho to be online by now and to have had the NGC contract by end of summer. I have patience as Paul asks but it's not infinite when things keep getting put back.

Anyone else a bit underwhelmed by Paul telling VTM that Ortoire could be 1 tcf of gas 'by the time we're done'? I just thought it an odd downplaying statement given they've hit 3/3 all exceeding expectations and Casca alone with several hundred bcf.

Not keen on moneypit ridge smasher. I'd much prefer money pot! Or going with the fish theme maybe it would have to be named Rhincodon (Whale Shark)!

This is my favourite share in my portfolio too - it's my only one. Literally bet the house on it. Paul was very clear he thought if it went to an auction then nobody could pick them up on the cheap as too many interested parties out there.

Excellent presentation as usual with lots of very useful info from Paul. I'd be gobsmacked if we get to 120 tomorrow though. Nice and steady will do me and lots of news coming next couple of months by sound of it....

Interesting idea smasher that they delayed testing in order to keep a lid on price. And I agree that there must be a reason that they did not test right now given that I'm pretty sure that in previous presentations Paul had said they would test Chinook same time as drilling Casca Deep. But why might they have done this? I'm not really convinced by the "shared access road" reason that Paul has given in both recent presentations.

Welcome on board ginmunger and thanks for reply. I think Paul actually said he hoped for Coho approval in the next couple of weeks onthe Proactive interview so that sounds like it will be the next piece of news and possibly before the Casca deep spud. Perhaps we will get a join rns announcing both around the end of this month.

Agree Gamflin they just need to get on with it. I'm tired of hearing that they're 'just waiting on the permits' for Coho when we all expected it to be connected up by now yet it sounds like they haven't even started putting the pipe down. Same with NGC contract and the time it's taking. It's great they're finding these monster eells but they're not adding anything to cashflow until they're connected up. I've been buying here from early teens and happy to stay fully invested but I'd really like to see some concrete progress on commercialising these discoveries soon.

Munchy appeared on the RRE board with very similar posts suggesting he was looking to buy in but with some sly subtle deramping tactics not long before they got taken over if I recall correctly. I hope TXP don't get taken over soon. Given Paul is on £500k+ salary, probably thinking about retirement and only has 1.2 million shares or so here I'd suggest he's not really looking at selling the company anything less than £5 per share.

That was my big question too smasher as I was under the impression work to test Chinook would be simultaneous with drilling Casca deep. I'm sure that was said on a previous interview. Seems a long delay to wait 3 months or so to test Chinook. But then I'm sure he has his reasons and he's been pretty bloody good at delivering in the last 12 months or so so I increasingly trust his judgement.

Looking for a celebratory tipple?

Https://www.buxtonbrewery.co.uk/beers/core/chinook-ipa

Some posters on the other board far more knowledgeable than me seem pretty confident that the 3d seismic pics of the area preclude and possibility of chinook and Casca being connected smasher. We'll see. I'm getting tired of waking up at 5am ready to check the phone at 7am so hope it comes soon!

I've been wondering when we might see some substantial Director purchases here - possibly after Chinook although there is the NGC deal in the background that might still preclude them from buying. Only Paul has a substantial number; there seem to be many PI' s with more shares than the other Directors!

That's a hell of a truck Dana. I'd want to put solar panels all over the deck instead of fake grass though! I was looking at motor homes for full time living at beginning of lockdown but glad I decided against it for now. Maybe later once the dust settles a bit globally!

I very much doubt that they would delay results, good or bad. Paul is generally keen to update market as soon as they have results as opposed to letting news leak out, which it inevitably would.