Proactive Interviews - Jan. 14 & Jan. 19/21 - Fun with #s24 Feb 2021 15:11
Good day,
Based on the presentation/interviews with PB at the conference on the 14th & subsequent Q&A on the 19th, by the end of 2022, between Cascadura (2 Exploration & 4 - 8 Development wells) & Chinook (1 exploration & 4 - 8 development locations)TXP may be capable of filling the new 20' pipeline to capacity of 250 mmcf/day. Using COHO operating CF #s of US$500,000 per 10 mmcf/day combined with associated liquids (TXP models in their presentations 28 Bbls. per 1 mmcf/day) at say US$15 netback per barrel (figure may be low based on rising oil prices), this would amount to gross field operating CF of US$187.8M dollars or US$150M dollars net to TXP's 80% share or US$0.72 per basic shares outstanding.
As PB has stated repeatedly, expect a "wall of cash" beginning at the end of 2021. No further equity raise will be required.
Plans for Royston, if successful, also call for a 250 mmcf/day pipeline...possibly another US$0.72 per share
This deeper Kraken play targeting the cretaceous is the biggest wildcard of all as the geological concept models the same play structure as Exxon's Starboek Block offshore Guyana. The success enjoyed by Exxon (15+ discoveries) & other players in the Guyana/Suriname basins has been nothing short of spectacular & will transform those 2 countries 3thrd world economies into Dubai look a likes. Exxon anticipates producing 750,000 Bbls./day from their Bloc by 2025 latest.
As to testing results from Cascadura & Chinook, my guess is that some, if not all, of the information will be available prior to the time of the next conference on March 10th.
All the best, Toolster