Member Info for tidd83

2/2

Oh, and the last thing, but very important thing - Paul says there are so many different potential buyers on the island, so that it is not going to happen that we get this stolen from under us. There would be a bidding war since so many parties are interested in the gas, and we will get fair value if and when this event occurs.

Fantastic, time for a beer or 3 for 3 beers :-)

Sharing Junky Monkeys excellent notes from ADVFN for all those who missed the call;

My highlights scratched on the back of an envelope:

Anticline Heart of Fairway - 3D Chess Match - We have the heart of the watermelon, no need to branch outside block.

Full Cycle now, not a well by well thing anymore.

3 Rigs ...... Gonna get me in trouble but 3 rigs ..... Bring it on I say!

Capital raise - not going to make any decisions now, will use debt where appropriate. I can't imagine they would even consider this before Cascadura Deep is finished and tested as well as Chinook. Royston would likely be funded with capital raise is what I interpret him trying to say. That will likely happen at a higher price I would also say the interpretation there could be. I'm not going to sit out and wait for it ....

Cascadura could do 10,000 boepd, but the pipe in the hole can't handle it. WTF! Can we have more problems like this please?

Chinook more significant that Cascadura + hydrocarbon show in lower sand sheet for first time. Getting a stiffy for that virgin sand?

Chinokk, at least in Paul's book is WORLD CLASS !!!! Go back and read that sentence a few times.

Cascadura Deep is a very large structure - well bigger is usually better, go Paul.

Chinook and Cascadura could be connected ..... STOP THE BUS! Get a drink ..... Start the bus again. %¤/"% Yeah.

Royston significantly de-risked - we knew that ......

Jan Feb Coho pipe - 57 meetings with locals due to Covid can't have town hall and difficult to go fast with under Covid since hasn't been done in 20 years on island. Government covering it's rear and going slowly.

NGC hopefully next month - will not be able to divulge specific gas price due to competition would gain advantage via info for end users costs. Gas will be priced in range as otherwise in Trinidad.

Rig moving this week to Cascadura Deep. Should be spudding within Nov 4 window I would think.,

Pools not spilling into other blocks, pretty well confined by faults, they doen't see any issues here yet.

Testing equipment used will be same, Covid makes bringing in from outside more problematic, and the data they could get with this equipment was good enough, did not need to have the additional drawdown.

Safety issue due to access if trying to test Chinook while drilling Cascadura is not acceptable to have two simultaneous operations on same access road. Fair enough, this is the oil industry who take the HSE thing very seriously and many times much too seriously. Incident days get reset to 0 because some slipped and scraped their shin. Don't ask, if you haven't worked in oil, you won't understand how utterly ridiculous it has become.

But anyways, switched on hostess, yes, we do view this as our company, because it is! She had good questions and was obviously paying attention, so would like to see her back. Well done again by Paul, and of course very well done by the TXP team!

Oh, and the last thing, but very im

https://twitter.com/tidd_83/status/1319284732174069762?s=21

Straight upto 5.11% - funds and IIs posturing.

Second tonnacombes post.

Very unlikely to see a raise prior to Casc deep results and NGC contract if at all. The headroom on the loan facility is known and can be extended to 150% of the current facility with drilling success (which has occurred).

TXP already have cash at bank post and are cash generative, $5m still to be drawn down on the existing loan facility and a recent injection of $2.8m from tax rebates.

To buy any sizeable position right now is difficult, consistently NT.

https://www.touchstoneexploration.com/investors/presentations/

Following on from the update, it appears IPF are on a solid footing and certainly have got their house in order.

The bond issue was a formality imho, the terms of the note seem fine in the current environment with the coupon extended by 5 years.

Business appears to have returned back to normal with a circa 95% collection rate. Headroom looks healthy with a good cash balance to boot.

I do believe dividends are likely the reinstated also which will then attract further funds into the mix.

Share price whilst risen has only made a small appreciation based on the news to date, I fully expect this to move steadily north from the lows.

Those in from these levels should see an excellent return in the coming weeks and months AIMHO

I’m pretty sure from memory that a successful result on exploratory drilling allows for further extension on the timelines.

I don’t see their four well quota being an issue, casc deep is 4/4 and due to spud imminently.

32mins in.. PVR presentation

https://www.youtube.com/watch?v=g7nvORAcnJs&feature=youtu.be

Is still just £12m.

If they conclude farmout with a consortium of this calibre which is expected any time and LOGP can retain even a decent stake this will go nuts.

Jaykee, the existing discoveries at the current prices are already undervalued.

Soon the market appreciate the amount of cash being thrown at TXP from production and the number of exploration targets still to go after (with a currently 100% success rate and proven model).

Current consolidation is expected but despite the meteoric rise in the last 12 months the value is still not being realised.

3/3 success with number 4 about to drill.

Shell sat in the neighbouring block wont have their blinkers on - especially given their appetite to expand their gas production in T&T.

Those with impatience could always miss out on a T/O approach literally out of left field.

Issues a buy tip at today’s price of 114p.

https://www.investorschronicle.co.uk/company-news/2020/10/14/touchstone-soars-again-on-third-discovery/

Strong performance, solid cash position and the Eurobond looks to be resolved.

Couldn’t ask for more.

Pros it pays to be patient with companies like these..

With my entire holdings from 8p days still intact I can vouch for such a strategy.

Bully around 1000ft but Chinook at 600ft was expected to be 4 time’s broader

“ SIGNIFICANT NATURAL GAS DISCOVERY AT CHINOOK”

Been sat here quietly waiting with baited breath but these guys certainly do know their onions. A third successful drill and a substantially thick pay zone under higher pressure..

Only one way this is going!!

Have to say hats off to the team, clearly ran over schedule hence the quick move now to target Cas deep and reduce rental costs but these guys are not only discovering new formations they are paving a way for T&T oil and gas explorations.

PetroTal, operator of Block 95, announced the restart of its oil production operations in the community of Brittany, Puinahua district, Loreto department.

The resumption of activities has been possible after the agreement between the representatives of the central government through the Ministry of Energy and Mines, the regional government of Loreto, local authorities and native organizations of the region, to lift the measure of force that was upheld. for more than five weeks in Brittany.

Last August 8 at night, a group of protesters tried to enter the PetroTal facilities, with the purpose of demanding the central government the urgent provision of basic services such as electricity, water and works in the field of sanitation, education and health due to the covid-19 crisis.

The agreement of September 28 was given in the presence of representatives of the central government, led by the Vice Minister of Hydrocarbons, Víctor Murillo, the regional governor of Loreto, Elisbán Ochoa, and representatives of the native federations of the area.

PetroTal seeks to provide the minimum guarantees to be able to operate safely and in a framework of peace and collaboration with the Brittany community, as it had been doing until before August 8. The average production of 11,500 barrels per day aims to reach 20,000 barrels per day by 2021.

Recently PetroTal, a request from the population of Puinahua and in recognition of the risk of a landslide caused by the erosion of the Puinahua Canal that would affect the community, decided to carry out the urgent works to contain this erosion and cover the corresponding expenses that are estimated in 1.4 million soles.

Faced with this urgent situation, and in order to safeguard the tranquility of the community, the company will provide additional daily electricity service for up to 24 hours (currently there are only four hours). This action is key because, thanks to electrical energy, the works will be carried out to remedy erosion and, in parallel, the community will be able to have electricity service permanently.

https://energiminas.com/loreto-petrotal-reinicia-operaciones-en-el-lote-95/

Credit to BE on Twitter

Agree, day to day movements are irrelevant and being in both here and RRE I think to suggest a trading range should suggest a TO approach is wrong. If that were the case half of the market would be bought up.

The usual mass hysteria selling on Corona caused the lull from breaking 80p, the news of late appears to take more of an approach like Swedens herd mentality than that of total lock down.

As such the market should resume to normal trading in the coming days. The drill results will do the talking.