Gordon Stein, CFO of CleanTech Lithium, explains why CTL acquired the 23 Laguna Verde licenses. Watch the video here.
Little bit more volume and this will move fast - I must admit, I didnt epect the RNS today - the fact they had to stop the drill due to excessive pressures (again) on an even bigger rig has brought the news out sooner and caught many by surprise. Market still not fully woken up
The significance of this well should not be underestimated, the bulk of production is from Cas at circa 8500boepd, these two wells alone could conservatively add a further 5500+boepd alone almost doubling production again.
Then there is Coho and Coora!
Huge derisking event and a great update all round.
Significant gas pressures that they again could not even TD the well even using the bigger Star Valley rig. Moving straight onto CAS3 and increasing production facilities upto 140mmcfd shows you the expected potential.
This is huge news, it also confirms the model and shows a further extension of the Cascadura reservoir whilst remaining open for even further expansion beyond. I would not be surprised if/when all this is proven up that Cascadura alone will hold circa 1TCF gas.
At these levels and with production now firmly on track to reach 14500boepd, with additional drilling to a commence shortly on multiple fronts and with production figures already throwing off substantial sums of cash this needs a major re-rate.
A few more to the pot at these levels. I second the post made around Discord - whilst this BB may have been quiet there is a lot of chat being made in other channels.
Cas 2 results should be known shortly before hopefully moving right on to Cas 3. Success here should push the needle from circa 8600 boepd on current production to the targeted 14500boepd by YE. Coora and Coho wells to follow, and with infrastructure already commissioned to accommodate the increase in production (bar a short pipeline to hook in) this looks like a very good base to jump from.
Acreage award news and increase in debt based lending also sounds like a given from listening to the recent presentation. Worm is about to turn.
Plenty going on behind the scenes, enjoy
https://www.youtube.com/watch?v=rCzNSul8Lpg
Excellent news and to see the journey from discovery to substantial production finally be realised.
I agree that the cashflow to the bottom line can no longer be ignored. This RNS transforms TXP totally, with an abundance of development and exploration targets ahead and now with a solid revenue stream (which is likely to be increased as optimisation to 90MMCFD occurs in the near term) the trajectory for which this company can grow is enormous.
Cas C additional wells next to increase production to circa 200MCFD, Coho additional wells to ramp up production to 24MMCFD and a base plate legacy production of around 1200bopd coupled with current NGLs of 1400bopd (with potenital for circa 5000bopd) this is all near term and ahead of any real further exploration.
Well done to TXP.
Dave, TXP have already independently booked around 400bcf at Cascadura,
https://www.investegate.co.uk/announcement/rns/touchstone-exploration-inc-npv-di---txp/significant-cascadura-reserves-evaluation/5988001
As production commences and the reservoir is better understood from the drilling of subsequent wells it is likely to increase as well add to the production figures.
Another key thing to consider is that the extent of the reservoir could far exceeds what is known today. This of course is even before the deeper structure which has yet to be drilled due to the huge already pressures experienced.
"Based on the data obtained during both tests, the Cascadura-1ST1 reservoir appears to be unbounded within the area of investigation, confirming a larger pool than originally anticipated."
interview out today with paul, atb
https://www.***************************/touchstone-exploration-a-transformational-moment-at-cascadura-video/4121126969
This is not the first discovery onshore of this size. It would be worthwhile for people to look at Aventuras Carapal Ridge discovery's at the turn of the century - subsequently taken over by BG group and later picked up by Shell as part of the larger merger. Some 23 years later these wells are still in production and within the same fairway as Cascadura
It is also worth noting that Cascadura significantly dwarves Carapal Ridge however for it makes great for an analogous comparison.
Todays RNS is a significant milestone and marks a major turning point for the company. A huge step up in production will result in a major sustained and reliable cashflow going forward.
With so many strings to the bow in terms of development and exploration opportunities the company will become self funding, Cas C wells will add to the production basis and allow for further evaluation in terms of the size of the Cascadura structure which has yet to be fully explored (the deeper prospect alone has not even been touched).
The production will increase in the coming weeks as they systematically and carefully increase the flow of gas to surface the main thing so not to cause formation damage. All part and parcel of development.
Whilst the initial reaction may seem subdued (and things down across the wider market) I have taken another chunk for the pot this morning.
Well done to all holders, the share price re-rate will come as the realisation on the step change in production is felt.
I am again looking in here and see the usual nonsense you post. For clarity and as I am sure others remember well, you were peddling your claims when CINE originally filed for Chapter 11 and the writing was on the wall - loading up circa 2-4p ranges. As things stand the shares are circa 50-80% down in recent weeks/months with a spread almost as wide on market trading.
That tells you all you need to know - you keep loading up, the spread alone just highlights the idiocy of your comments