Touchstone Exploration ( TXP )

[Proselenes]

https://www.proactiveinvestors.co.uk/co ... 22126.html

Touchstone Exploration nearing final countdown to first Cascadura production

Published: 08:12 31 Jul 2023


Touchstone Exploration Inc (AIM:TXP, TSX:TXP, OTC:PBEGF) is on the verge of a major uptick in production as it ente.............

[Proselenes]

[Proselenes]

https://www.malcysblog.com/2023/07/oil- ... d-finally/

.....Touchstone is now within pitching distance of full-on production so the company are taking no risks by missing any final tests at the facility as they approach the final MEEI inspection and ahead of gassing up the system.

Over at Royston, as noted above, the testing continues in this important well targeting the intermediate sheet of the Herrera formation, the primary target of the well.

I remain a huge fan of TXP and when the gas finally flows there will be an incredible increase in value which is by no means in the share price at the moment.....

[Proselenes]

Nice Golden Cross forming on the TXP chart now

[Proselenes]

So ahead we have something like this :

Cascadura-A online at initial low rate RNS soon in August

Then Cascadura-A ramps up as the wellbore cleans up might be further news in August or September

Spud of Cascadura-C1 well - exploration and development in September.

Asset swap deal news.

Charuma license application news.

Royston 1X flow test results in September or October

Cascadura C1 TD reached and logging results in October

Spud of Cascadura C2 well in November

Cascadura C2 well results in December.

Flow testing of Cascadura C2 in January.

Potential spud of Royston-2 in January.

Flow testing of Cascadura C2 in February.

Rosyton-2 drilling results in February.

Royston-3 spud in March / Coho-2 spud in March - one of them ?

June 2024 Cascadura C pad online with A - possible 200 per day production plus liquids.

Second drilling rig put on hire after Casca-C is online. Then one rig doing development and one rig doing exploration for the next 10 years non-stop drilling.

[Proselenes]

The news from TRIN today (as below) also has very possible significant impact to TXP. TXP have been considering drilling deep wells at their Legacy license areas..........TRIN today has announced the results of their deep well and its impressive. This opens up yet more potential for TXP to drill deep at their existing Legacy license blocks (Coora/WD etc..)

TRIN news : https://www.investegate.co.uk/announcem ... ed/7679081

https://www.upstreamonline.com/explorat ... -1-1497063

UK player makes breakthrough oil discovery in Trinidad & Tobago

Flow testing is expected to commence in September, with the produced oil to be immediately sold to Heritage Petroleum

7 August 2023 7:43 GMT Updated  7 August 2023 9:12 GMT By Zsuzsanna Szabo  in   Oslo 

UK company Trinity Exploration & Production has found what it describes as "virgin oil in a super-mature basin" onshore Trinidad and Tobago with over 290 feet of net oil pay at the Jacobin-1 well.
The operator said today it had successfully encountered hydrocarbons at the Jacobin-1 well in the prolific Palo Seco area, onshore Trinidad, drilling to a total depth of 10,021 feet - one of the deepest wells drilled in recent times within the Palo Seco area.
The well hit 290 feet of net oil pay including 63 feet of net oil pay in the deeper exploration targets.
The well was spudded on 15 May 2023 with an objective to appraise and explore the potential of Lower Cruse sandstones within the Palo Seco area of the prolific Southern Basin.
A comprehensive logging and pressure sampling programme confirmed virgin pressures in these deeper zones.
The company said the results validated the geological model and were within the pre-drill range for a commercial discovery.
Flow testing is planned to confirm the deliverability of these reservoirs, expected to begin in September.
The company added that oil produced during well testing is expected to immediately be sold to Heritage within the PS4 licence area operated by Trinity, enabling quick revenue post-completion of drilling.
“This is a very significant and material achievement b....................................

[Proselenes]

Bit of a Cascadura update :

https://www.reddit.com/r/TouchstoneTXP/ ... ra_update/

.

[Proselenes]

Cascadura-A first gas is now in the system and the system is in the process of final commissioining and being ramped up to initial "production" volumes.

The wells will be gradually ramped up over time to their expected 60 per day (30 each).

I do not know what TXP will class as "initial production" it might be 20 or 30 per day (10 to 15 from each).......but when they reach this initial low target they will RNS about "initial production volumes online" it seems. No news before then.

Do not expect any news until they reach their initial low target. Then over time operational updates will state how much they have then reached. The well bores need to clean up slowely at first to get the best production rates and so the taps will slowely be opened up over months...not weeks.

EG initial news Cascadura online at say 20 per day for initial production.
Later a month/months - Cascaura is now at 40 per day
Later - Cascadura is now at 60 per day.

There is hope that clean up will allow each well to do 50 per day, which is the "best case situation" and 4 wells - 2 existing at Casca A and then 2 new at Casca-C can give 200 per day by Q3 2024.

So might be news this week or next, the key takeaway would be inspections are over, sign off is done and now its all systms go, albeit slow slow at first.

This should mean we can get the first of 2 new wells, Cascadura-C1, spudded in late September hopefully and not slip into October.

So keep those FATC !!

[Proselenes]

Got asked by PM why the existing Casca wells will be bought on slowly, as it seems the Discord group have no clue and going down rabbit holes.

Cascadura ST1 the well bore was damaged by the drilling mud, same in Deep-1. Both well bores need time on production to hopefully clean up.

ST-1 and Deep-1 both have 55 million per day seperators on them.

Both wells will be bought on slowely due to them wanting to clean the well bores up.

ST-1 is capable - they believe of up 55 million per day when fully cleaned up.

Deep-1 is capable - they believe of up 55 million per day when fully cleaned up.

This is why only 2 weels at C - Cascadura C1 and C2 are planned - as they hope these 4 wells when at full flow can max out the 200 million per day capacity (absolute best case is 55+55+55+55 = 220 million per day A+C.....but dont bet anything on it)


HOWEVER.......they will not go full open flow to start with and will gradually be ramped up.

Its very likely that after an initial low flowing rate, they will be ramped up in steps to 45 million per day........so 90 million is the Casc-A target and then another 90 million the Casc-C target - with upside to go 100 million each site.

The initial "online" RNS will likely be low flow, maybe 20 to 25 million per day, and then its get ramped up from there over time as they monitor pressure/flow and how the well bores are cleaning up.

[Proselenes]

https://www.sharesmagazine.co.uk/events ... ent-270923

Shares Investor Evening (London) - LIVE EVENT

Wednesday 27 September 2023

abrdn New India, Anexo Group, ATOME Energy and Touchstone Exploration



Join Shares and AJ Bell for an evening of investment inspiration and get to meet the decision-makers.

The event on Wednesday 27 September in London will include:

• An opportunity for you to talk directly with the directors and ask your questions about the companies’ core strengths and their short and long-term business strategy

• Meet fellow investors and share your investing experience

• Complimentary drinks and snacks

More about the companies presenting:

abrdn New India (ANII) - Seeking world-class, well governed companies at the heart of India's growth First-hand quality seeker: intensive first-hand research and regular company engagement help us to identify world-class organizations that we believe can deliver sustainable long-term growth and weather Indian market volatility. Independent-minded investor: we are not afraid to be different by focusing on those companies and sectors that offer sustained potential to share in India’s long-term growth story, regardless of their index or sector weightings.

Anexo Group (ANX) - Anexo is a specialist integrated credit hire and legal services group focused on providing replacement vehicles and associated legal services to impecunious customers who have been involved in a non-fault accident. These individuals typically do not have the financial means or access to a replacement vehicle which allows the Group to charge credit hire rather than spot hire or GTA rates, recovering these charges from the at-fault insurer at no upfront cost to the individual.

ATOME Energy (AIM: ATOM), the only international green hydrogen and ammonia project development company on the London Stock Exchange. Green hydrogen and ammonia, created using 100% renewable energy, is a rapidly growing market, estimated to be worth over USD$100 billion by 2027. ATOME has a pipeline of 621MW+ of production capacity and growing.

Touchstone Exploration (TXP) is a Canadian-based upstream oil and gas exploration and production company currently active in the Republic of Trinidad and Tobago. It is an independent onshore oil producer in Trinidad.

Who Should Attend

The evening is a perfect opportunity for existing shareholders or potential investors to hear from the directors running the companies to explain their strategy and opportunity for investors and meet them over drinks after their presentations.

Evening timings
17.15 Registration and coffee
18.00 Presentations
Olivier Mussat, Chief Executive Officer - ATOME (ATOM)
Nick Dashwood Brown, Head of Investor Relations - Anexo Group (ANX)
Paul Baay, CEO - Touchstone Exploration (TXP)
abrdn New India (ANII)
20.05 Drinks reception and refreshments
21.00 Close

Venue
Novotel Tower Bridge, London EC3N 2NR

Register Now https://ajbell.eventsair.com/shares-inv ... 923/270923

[Proselenes]

Back in the land of internet today, so I can partake of the TXP meeting in the middle of the night.

For anyone not aware, its live on https://www.investormeetcompany.com

15:30 UK summer time today - Free to register and attend,.


The new presentation is good, pretty much as expected.........nice to see the 1000 foot updip location at Chinook is now a new drill prospect - which is as we all said at the time.......and we are looking for near 900 feet of oil column there, maybe over 500 feet of net pay....thats a big drill.

New presentation link is :

https://www.touchstoneexploration.com/w ... t-2023.pdf

.

[Proselenes]

Update from Malcy, he was in on the earlier presentation today and says its excellent :

( Retail presentation later today 15:30 UK summer time - https://www.investormeetcompany.com/tou ... r-investor )


https://www.malcysblog.com/2023/09/oil- ... ouchstone/

.......Investors should make every effort to listen to the 3.30 presentation today as the situation at Touchstone has been totally transformed by the bringing on of Cascadura field that changes the company completely. I was on the earlier call and it was excellent. I interview CEO Paul Baay tomorrow.......

[Proselenes]

Yesterdays TXP presentation video is on the link below :

https://www.youtube.com/watch?v=rmg9ej9yMME

.

[Proselenes]

After being hounded and bashed and told repeatedly to under promise and over deliver.....the TXP team are being very conservative - and now they are being berated for "why are you not doing this and that"....why is it only this much going forward.........how come next Casca wells are only 20 each.....why why why....

Cant win can they.......but be assured, they are now being super conservative and understating the potential flows and rates and forecasts.

TXP and Heritage are trying to increase the price currently, they want around 3$ instead of the current 2.5$. This is most likely why they are not forecasting until mid December as they want to know IF they can assume 3$ in 2024 or stick with the 2.5$

As TXP goes forward you can now expect lots of conservative under promise flow targets and then all being well lots of over delivery.

Thats the new normal now, people wanted it, screamed for it and now your getting it.


This is the PB interview with Malcy, link below :

https://www.youtube.com/watch?v=YTb54uumkiA

.

[Proselenes]

Interview on LSE :


Touchstone Exploration put foot on the gas in Trinidad as they target 30,000 BOE and the FTSE 250

https://www.youtube.com/watch?v=4YKW5rV3lic

.

[Proselenes]

Hopefully this is the precursor for a new pricing deal between TXP and the NGC. Dont forget, every forecast is currently on the 2.5$ pricing, however, TXP are trying to renegotiate to get 3$+.

This new deal NGC to PLNL being signed, might open the door now for TXP to get their price increase. Any increase in the gas price TXP to NGC will have very significant effects on the cash inflow in future for TXP.


https://media.ngc.co.tt/ngc-and-plnl-ex ... s-contract


NGC and PLNL execute a new Gas Sales Contract

Oct 4, 2023 | Business and Business Development, Downstream Ventures and Development

[Proselenes]

Next news should be, if they do it, a "Cascadura Maiden gas sales payment received" sometime late this month.

Given the forward plan launch is waiting on receiving the first monthly cash pyament, I would like to think that they will RNS this significant event late this month.

Even through the amount will be small, as only a few days procuction, it will be proof that everything is working, including the payment mechanism.

[Proselenes]

15th Nov 2023 TXP Investor presentation video

https://www.investormeetcompany.com/inv ... tation-485

.