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I’m wondering if anyone could give me a breakdown of anticipated production once casca is up to max rates.

Are we anticipating 60MCF per day and 1300 barrels of liquids per day? The last presentation suggested circa 9000Boe/d. Have I got the breakdown between gas and liquids roughly right?

Cheers in advance.

Fool me once, fool me twice…. PB is very clearly economical with the truth. I still can’t believe how quickly people forgot about chinook… Royston is another one for scrapbook.

Completely agree alligator. I have been reducing my holding over the last fortnight as I have lost faith in PB. I still have a sizeable holding but if Cascadura flow rates are not as guided I will cut my position immediately. TBH the messaging around chinook and the coho delays were all clear signs for me.

What a plonker! As good as it gets he says.

Precisely sailplane. PB is an epic BS’er. You should check out the CHINNOOK significant gas discovery RNS a few months prior!

Hey Johnxx - as anticipated last week Royston didn’t go out way. However if Cascadura produces as guided I think we will see a steady rerate and then lots of interest as de elopement drilling commences. PB achas however really not covered himself in glory. The chinook and Royston hyperbole from him has been James parsons-esque (sound energy).

The problem with Royston is that after chinook the CEO now has a reputation for embellishing the truth. PB has really let himself down and who knows what other skeletons are lurking in the closet..::

Royston results as expected. PB’s handing of chinook and Royston comms has been nothing short of appalling.

Ultimately if Cascadura can produce at the volumes quoted by PB post sign off (this will need to be evidenced across two quarters minimum IMO) then we will all be in the money. It is rather frustrating but hopefully it will be worth the wait.

We shall see dunderhead. Let’s hope PB’s wall of cash analogies are not remembered in the the James parsons (sound energy) Ilk. I’m not as confident as I used to be following delays, albeit COVID and government red tape haven’t helped. The companies verbal guidance via PB at this point is meaningless to me. But I’ll wait for the next few RNSs.

Does it take 35-40 days to complete initial testing? Or were the initial results so good the team wanted an extended flow test to not mislead :)

I’ve lost all faith in PB as you can probably tell….

Precisely. Which is why the Royston post discovery interviews by PB stating it’s ‘as good as it gets’ and can be trucked etc etc etc is all BS. All very similar to coho in terms of the drip fed downgrades.

PB now has a reputation as a BSer. There was no need for the hyperbole at all. Let’s hope Cascadura comes good for him and us. However any negative news on Royston will definitely be seen as withheld information by me. TBH I just need to cut my position as the warning lights have been red for a while.

Hey John, I’ve reread the RNS so accept it wasn’t guidance but PB definitely talked up the initial test results. I suppose my point is that the 11.8MMCF guidance was subject to PB’s usual optimism as seen in the results (Coho-1 well averaged net volumes of 4.2 MMcf/d ).

I’ve been here a long time as many of us have since the Cascadura discovery but am increasingly wary and suspicious of the delay in Royston test results.

Fingers crossed for positive news on first gas at Cas.

Initial test results were in the 17,5 to 20 MMCF range. This was shared by PB on various post discovery interviews. Might also be work looking at how they RNSd the discovery ( titled TOUCHSTONE ANNOUNCES COHO 1 GAS test of 17.5MMCF).

I agree they subsequently guided 10MMCF after extended testing. Does 4.6-4.8MMCF a 50 % decrease seem on guidance?

Hi John delays to Royston feel wrong to me. I also feel that Cascadura production guidance can’t now be trusted. It really comes down to PB’s behaviour and constant misleading on timeframe.

You may have missed the chinook RNS titles SIGNIFICANT NATURAL GAS DISCOVERY AT CHINOOK (14th October 2020) ……..

All im saying is that Royston feels like a chinook to me right now. I hope I’m

Proved wrong.

Indeed CW. Let’s hope it’s a prison wall rather than bungalow wall :)

Unfortunately due to CEOs constant moving of the goal posts I am now beginning to doubt flow rates. I’m heavily invested so hope I’m wrong but something feels wrong to me. Coho is a clear example of PB relationship with the truth. Started as 18-20MMCF then expectations on production lowered to 10MMCF. In recent interim results producing 4.6MMCF daily….….

Providing Cascadura production is inline with guidance and Royston can flow circa 350-400 BOPD I think we will see value out.

However the issue with PB , especially after chinook is that until production figures are released it’s hard to believe any guidance. He can’t even give an approximate padded timeframe to the market !

PB seems to enjoy using the phrase “near term”. I’d rather he added padding and met his self declared timelines. Timings can shift but this close to first gas he should be able to provide accurate guidance based on sequence of events!

I’m here for the Long term in any case, but PB really needs to up his game.

17 days ago…

“Production testing at Royston-1X is ongoing and the Company will update the market when testing has concluded.”