RE: MALCY27 Jun 2022 15:16
Beat me to it!
Here’s the rest….
“ “We are pleased that we are nearing completion of the Coho project. We are currently focused on the final phase which is the tie-in at the Central block. The components required for the assembly have been designed and fabricated in Trinidad and are onsite being installed by a local contractor. Following installation, the assembly will require testing and commissioning prior to first gas, with production volumes expected to double our current production on a boe basis. Concurrently, there has been consistent activity at Cascadura while we await receipt of the EIA approval. We would like to thank our stakeholders for their continued patience, and we look forward to updating the market in due course.”
This is very good news for Touchstone as it sets out the timetable for completion of the Coho project as well as updating on what will be a transformational development at Cascadura now looking imminent.
In addition there is an exciting drilling programme envisaged with the sidetrack of Royston-1 as well as two development wells at Cascadura. Touchstone shares peaked when exploration success first happened at the Ortoire Block and drifted as markets realised that a development would take time and significant investment.
Now that development looks to be close to completion and we can see production and revenue from Coho and Cascadura as well as significant potential from exploration at Royston-1 as well as more development wells and of course Ortoire Phase Two exploration.
I had a huge amount of faith when I first saw the potential at Ortoire and that has been proved by such success with the drill bit. This has continued by the swift execution of the development which will see a significant increase in revenue from production this year which of course will generate a great deal of cash.
Accordingly the shares should rise significantly in the next few months, opportunities like this are pretty few and far between and should be grasped with both hands.”
https://www.malcysblog.com/2022/06/oil-price-genel-savannah-touchstone-eco-ceg-petro-matad-arrow-and-finally/
Not as ‘swift’ as John!
Trek
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