Member Info for tidd83

Poor investor, I assume your living upto your name.

You do realise the bondholders will now be pulling the strings meaning equity investors will be wiped out. 1p will likely be the D4E swap, I would be surprised st anything over.

Talking about screens in X Y Z locations and MCAP really is irrelevant where the EV is much higher due to debt which will be breaching covenants left right and centre.

Shareholder wipeout and anyone thinking otherwise needs to open their eyes before they lose the lot.

And has been for some time.

I feel sorry for all involved here, the collapse of this stock was inevitable given the unmanageable amount of debt.

I remember posting during the height of COVID stating as much only to be shunned. Not here to gloat but let it be a lesson learned that their is validity in looking at two sides of the coin.

GL

Monumental news, patience has certainly been rewarded!

This is transformational now for the company and paves the way for moving TXP into the big league!

A major re-rate should now certainly be on the cards to begin to price in those reserves ahead of a huge production uptick!

Hi Ezhik, good to see a familiar face/name.

All well here, thank you for asking - certainly more a backseat lurker these days as opposed to a front seat poster. A busy period with life and then posting went on the back burner. Thanks for the message, hope your well too?

Read them RNS

“ Pursuant to the Coho Certification of Environmental Clearance, residential notification is required to be made a minimum of five business days prior to the commencement of operations.”

It’s part and parcel of the approval, a notification is required to be given to residents and a testing of all facilities since end to end construction is complete ahead of production.

Excellent news, it has been a long time coming but its the first in a line of MAJOR step changes to production from the huge discoveries made over the last few years.

Plenty more to come, patience will always be rewarded.

Intermediate zone still to go after and a huge reservoir of oil approx 7km x 2km in size.

Solid production on natural flow back which will only increase on pump, that’s huge discovery onshore.

100mbo minimum added to reserves is my guess.

Merry Christmas indeed!

Analysts at Canaccord Genuity raised their target price on mining outfit Touchstone Exploration from 180.0p to 200.0p on Friday following the firm's "surprise, but upbeat" announcement of an oil test in its Royston-1 well.
Canaccord said following Touchstone's analyst presentation and third-quarter results, it was now possible to add "a little more flesh to the bones" of the well test result.

The Canadian bank said its initial view that the oil discovery was "an important step forward" had been confirmed, though it also recognised that there was still "plenty to be done" to fully evaluate the scope of the commercial potential at Royston and the surrounding Ortoire licence.

Canaccord, which reiterated its 'speculative buy' rating on the stock, said the tested zone, the first and deepest of three planned, looked the least promising in terms of reservoir rock properties, yet the test also produced light sweet crude despite the equipment used being designed for gas flow.

"We think the information provided so far provides the foundation for thinking that Royston could be both a gas/wet gas (to be confirmed following two tests expected to be completed before YE21) and an oil development. Furthermore, the discovery of oil in the deepest levels of Royston-1 adds support to the possibility of oil in the nearby but deeper Krakken prospect," said Canaccord.

Indeed and prior to work over was 8500boepd gross.

Has shown an increase to production by 50% and a surge in gas prices by around 18%.

KIST share price has yet to respond.

Following the testing of the Vlieland formation, a sidetrack was drilled from the Q10-A04-A wellbore at high angle through the Zechstein carbonates and clastics and completed in the primary Slochteren formation at a TVDss of 2,319 metres. Following data acquisition, the well is now producing gas from the Slochteren reservoir at a gross rate of ~800,000 Nm3/d (~5,080 boe/d) with the other horizons currently shut-in for reservoir management purposes. Following the completion of drilling and intervention activities on the Q10-A field, gross gas production has reached approximately 2,000,000 Nm3/d (12,700 boe/d).

Hey shell thanks for sharing, certainly looks bright.

Can you share the exact url with coords please?

Now past €119

Phoebus an independent reserve report was conducted by GLJ.

The report excludes the second pay zone encountered on the Casc-Deep well and also the discovery made today at Royston.

https://www.investegate.co.uk/touchstone-explrtn.--txp-/rns/2020-year-end-reserves---operational-update/202103050700043095R/

Hope that helps.

makingdough, you have an analogous field operated by Shell for circa 20 years - I refer you of course to Carapal Ridge.

Mickey, only the intermediate zones have been tested on the Cas Deep well which were previously untested on the BW5 well. The main gas pay zones identified in Cas-1 are 20% thicker and still to be tested, these are the zones which are now perforated and put on test hence why I see this becoming a second development well and reserves increasing. Read the RNS;

The well encountered 558 net feet of hydrocarbon pay in the Gr7bc section of the overthrust Herrera sands at measured depths between 5,450 and 6,050 feet. These sands, locally referred to as the Sheet 3 overthrust sands, correlate to the sands discovered and tested at Cascadura-1ST1 at depths between 5,516 and 6,162 feet. The gross section encountered in Cascadura Deep-1 was 20 feet less than observed in Cascadura-1ST1 which is located approximately 900 feet to the northwest.



The well encountered 449 net feet of hydrocarbon pay in the Gr7abc section of Sheet 4 of the overthrust Herrera sands at measured depths between 6,050 and 6,532 feet. These sands correlate to the lower sands discovered and tested in Cascadura-1ST1 at depths between 6,162 and 6,350 feet. The gross Sheet 4 section encountered at Cascadura Deep-1 is more than 245 feet thicker than sands observed in the Cascadura-1ST1 well and is consistent with the Company's models based on seismic data.



The intermediate Gr7bc sands were the Company's primary target originally identified in the offsetting BW-5 well. 308 net feet of hydrocarbon pay was identified in two thrust sheets within the Gr7bc section of the intermediate Herrera sands at measured depths between 7,086 and 8,246 feet. The sands encountered in one of these thrust sheets correlate to the offsetting BW-5 well while the other thrust sheet was not encountered in the offsetting well; neither thrust sheet has been previously tested.

Makingdough, Casc has already been tested and independently certified. The reserves are booked.

Casc deep is testing a circa 200ft lower extension of an existing proven zone which reserves have already been booked against and additional sheets targeted.

The existing independently certified reserves as things stand aren't being valued correctly, the market has undervalued much of what is already proven and it is of my opinion that the well currently under test will provide increased reserves before being put into development alongside Cas-1.

Malbrad, Royston has absolutely nothing to do with Shell being “clueless” as you state.

Shell were targeting oil at Royston and encountered 700ft of gas effect, at the time of drill there was no gas infrastructure and since gas was not a target just like at Casc they abandoned the well.

Great post, hat tipped.

Have added to today, as before with the initial Cascadura 1000ft pay result and the recent $2.2bn NGC contract this weeks RNS has been massively underestimated.

The lower pay zone encountering oil was a significant bonus discovery as has been the case with the upper oil zone now put on EWT. To identify a deeper oil pool and shows whilst also acknowledging an updip optimal drill location some 1000ft higher should not go unnoticed.

If the recent weakness is merely based on testing delays and IG positions being liquidated whilst ignoring the substantial reserves upgrades, the above bonus oil zones, third drill rig and huge progress on the road to Royston I will happily take some more.

Just to point out on a recent comment that has been made here, Royston is not dependant on the completion of the seismic surveys and will go ahead even before completion. The well is another twinning similar to those at Cas etc, to an earlier Shell target that encountered 700ft gas effect.