Member Info for speculater

Sure. Search for Speculater65 on twitter.

Post an email address and I will send a pic of the actual newspaper article.

“Touchstone onshore, they have had significant finds of liquids and gas and I’m hoping in the next few months it will be the largest onshore gas production in Trinidad and Tobago. Again Government is working with them to get these things done, Minister Young said.”

Minister Young said that 2022 will feature a number of bid rounds “aimed at attracting offers for exploration in acreage on land, in the shallow water marine area and in our deep-water marine area. In this regard Trinidad and Tobago is not singular.”

The first bid-round is for deepwater in the North Eastern and Eastern marine areas.

The second round will be on-shore.

“This bid round is scheduled to be launched at the end of 2021, immediately after the launch of our deepwater bid round. Twelve blocks located in the country’s Central Range and Southern Basin are under consideration,” he said.

“Within the onshore acreages, several seismic datasets both 2D and 3D are available and will serve to de-risk the blocks. We are currently in a nomination period for the Onshore Bid Round, interested stakeholders are requested to nominate the onshore blocks of particular interest to them.

Very nice to hear that the production string (completion) was run in today. Better late than never. Now on to testing. Fingers crossed everyone.

If you follow xaviermoonan on instagram you will see some pics of the ongoing seismic survey in the Gajram forest as well as the newly built Saunders Trace bridge to the Royston well pad. All coming together now for rig move.

Cost includes the metering station at the connection at Poole Valley.

Some additional information from Primera's CEC6031/2020 application.
The 6" diameter pipeline is sized for 10-15 mmscf/day at 500-800 psi
Also adding two additional 400 barrel storage tanks to bring total storage capacity on site to 1,600 barrels. Projecting 300-500 barrels a day.

Also NGC's CEC6095/2020 application submitted Sep 17, 2020 for an 8" diameter pipeline, 2 km long connecting Cascadura to Poole Valley valving station where the 30" diameter Beachfield to Phoenix Park line traverses. The 8" pipeline is designed for 100 mmscf/day at 600-1400 psi. Cost is stated at TT$58 mil. = US$8.9m paid for by NGC.

I guess NGC really need our gas ASAP!

Expect further declines in natural gas production this year and the country is running out of fiscal space are the observations of one economist and a former Energy Minister.

Former energy minister Kevin Ramnarine said the country’s natural gas production is expected to further decline in 2021.

Ramnarine’s comments came after Finance Minister Colm Imbert revealed that the country’s economy is in peril as a result of a decline in oil and gas production and low international commodity prices.

In an interview with Guardian Media Ramnarine said the challenges facing natural gas production warrants a national discussion.

He said: “Natural gas production in 2020 was 15 per cent lower than it was in 2019 and that’s a significant drop in natural gas production. Mainly we have seen significant declines coming from BPTT, the country’s largest natural gas producer.”

Have a look at Touchstone’s instagram post today. All the news about pipeline to Coho and related information.

Coho well expected to produce at 10-12 MMcf/d to net $500,000 per month or $6 mil p.a.
Cascadura 1ST1 well expected to produce at 40-50 MMcf/d to net $2mil. per month 24 mil. p.a.
Chinook 1 well to be tested early Feb with results by late Feb. 2 development wells planned.
Cascadura Deep well to be tested (3 zones) expect 40-50 MMcf/d production ($24 mil.) plus 2,000 barrels/day ($10 mil p.a. net) liquids. 2 development wells planned.
Royston prospect .25 to 1 TCF to be drilled by Wells Services heavy rig 60. EMA approval in hand.
Valuation of traditional 208 well oil business say £30 mil.
Valuation using factor of x8 for new Ortoire gas and liquids sales (6 + 24 + 24 + 10)x8 = US$518 mil. = £378 mil. + £30 mil. = £408 mil.= 197p
Nothing valued for Chinook 1 but at 10 MMcf/d (could be more) would add another $6 mil p.a. or 23p
Market capitalization today is £357 mil. at share price of 173p
SP was 25p back in March so already a 7 bagger
Next trigger is Chinook test results followed by Cascadura test result followed by Royston.
Also learnt that a 20 inch diameter pie can flow up to 250 MMcf/d - nice!
Just my 2 cents.

Yeah sure. And OGIF will walk away from a $272 mil loss and Schlumberger will write off $60 mil. -and Greenberry will write off $28 mil. Great theory.

Someone bought 15 shares for 48p today at 2:12. We have certainly travelled a long road since the Summer of 2016.

The bonds were issued by Greenberry, a Marco Fumagalli/Continental sister Company. See RNS June 21, 2016. So now we have as our Chairman, the person to whom we owe Euro28.8 mil. Could this be why the "independent BOD" have accepted this rediculous deal, as it was the only deal offering up front cash to enable Sound to repay the bond, to its new Chairman? And also why within a week 3 Directors have resigned before this scandal breaks in the press?

Question for the FSC I suppose.

Thanks Exploration but link is not working for me. Where can I search for it?

"Indemnities
Insurance cover also remains in place to protect all Directors and senior management in the event of a claim being brought against them in their capacity as Directors or officers of the Company and its subsidiaries."

Seems us shareholders have already paid to protect Directors against any action due to their malfeasance......

"The Company has a 5-year non-amortising secured bond with an aggregate issue value of €28.8 million (the “bonds”). The
bonds are secured over the share capital of Sound Energy Morocco South Limited (i.e. Sidi Mokhtar editor's note), have a 5% coupon and were issued at a 32% discount to par value. Alongside the bonds, the Company issued 70,312,500 warrants to subscribe for new ordinary shares in the Company at an exercise price of 30 pence per ordinary share and an exercise period of approximately five years, concurrent with the term of the bonds. The 5-year secured bonds are due in
June 2021."

Can someone remind me who issued these bonds. Who do we have to repay?

NewCo could buy Sound cheaper in the market now. Wonder if they are? Any Director’s buys today?

Not forgetting this is an exploration well and not designed to be a producer. Gas to surface and we are off to the races.