RE: Paul Baay ... "This is a step change"9 Sep 2019 19:04
Sounds like 8mil is a guaranteed from the 2 pay zones. And there are another 2 we can tap into. That's easily got to be close to 2000bopd equivalent. Hopefully the market will see the significance here
This is definitely the start of something massive for TXP. Proving up the turbidite model is huge for the Oritore block which is massive! Imagine all the potential prospects now. That field could be valued at billions.
Fantastic news. This could add a potential 2000bopd equivalent to the already circa 2000bopd we are now producing. And the rig is already off to the next prospect. Oritore could now add 60p to the SP which is currently hugely undervalued just on current production. https://ukinvestormagazine.co.uk/touchstone-exploration-upside/
Looking at touchstones presentation the 2nd prospect CASCADURA-1 has a best estimate of 897bopd and a high estimate of 2190bopd. So I'm pretty sure 30-40 wells would produce a lot more than 3000-4000?
David & Monique Newlands have sold a very small percentage of shares. 3.74% down to 3.51% If this was a bigger chunk or all their shares I may have been concerned but such a small amount hardly seems worth it.