Touchstone Exploration ( TXP )

[Itsallaguess]

https://uk.advfn.com/

[Proselenes]

https://www.malcysblog.com/2020/08/oil- ... ouchstone/


....................Touchstone Exploration

Briefly, as I commented on last week the news from Touchstone gets better and better and yesterday I was lucky enough to spend some time on the phone with TXP President and CEO, Paul Baay.

The value that I see in TXP is already stamped big time by the gas discoveries at Coho-1 and at Cascadura-1ST1 with significant liquids into the bargain and the fiscal advantage of gas in-country making it a double whammy.

The company has ...........................

the upside for the company is huge....................

[Proselenes]

TXP will be taking part in a Shares Magazine webinar on 9th September. Free to register. Details below :

https://www.sharesmagazine.co.uk/events ... nar-090920

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[Proselenes]

Updated presentation for this evenings Shares Mag presentation.

https://www.touchstoneexploration.com/w ... -FINAL.pdf

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[Proselenes]

The video of the recent Shares Mag presentation.

https://www.youtube.com/watch?v=fDr2XhU ... e=youtu.be

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[Proselenes]

Write up about TXP on SA.

https://seekingalpha.com/article/437569 ... d-resource

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[Proselenes]

3.25 CAD = 191p share price target.


https://www.theglobeandmail.com/investi ... rades-129/

Cormark Securities initiated coverage of Touchstone Exploration Inc. (TXP-T) with a “buy” rating and $3.25 target. The average of the Street is currently $1.73.

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Touchstone (TXP-T, $1.32) – Buy, 3.25 Target, Garett Ursu: We are initiating research coverage on Touchstone Exploration. Details: As detailed in our “Emerging Ideas” report from May 29th, Touchstone Exploration’s Ortoire block onshore Trinidad has already provided ....................

[Proselenes]

SPT tax reform will have a big benefit to TXP........in view of those condensates going to be produced from Cascadura from H2 2021.


https://menafn.com/1100878710/CARICOM-c ... y-champion

.........Trinidad and Tobago is at a different stage of its energy development, similar to an aging company that needs to reinvent itself. For Bill Gates' Microsoft, it was becoming a provider of cloud-based software services rather than exclusively offering its Windows operating system for computers. For Trinidad and Tobago, it will be the reduction of fiscal and regulatory barriers. It is an announcement to change the threshold of its Supplemental Petroleum Tax (SPT), from U$50 a barrel to U$75 a barrel, will encourage new investment and exploration...............

[Proselenes]

https://www.proactiveinvestors.co.uk/re ... etails/286

Proactive One2One Virtual Forum 22 October 2020 | London

Touchstone Exploration Inc


Well thats been booked at a time to discuss the events of Chinook and also the Casca Deep well up next.

[Proselenes]

Well done TXP.

Now 3 from 3 with another discovery..........SIGNIFICANT and EXCEEDING expectations.

https://www.investegate.co.uk/touchston ... 00060381C/

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[Proselenes]

A few words from Paul in this quick interview following todays news.

https://www.youtube.com/watch?v=kNmnAYqfD50

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[Proselenes]

Nice comment on the latest Hydra blog, a good read:

https://www.hydracapital.ca/hydra-blog/

Touchstone Scores a Hat Trick with a “Significant Natural Gas Discovery” at Chinook-1: Testing to Follow

By Malcolm Shaw October 14, 2020

By: Malcolm Shaw

(Disclosure: The following represents my opinions only. I am not receiving any compensation for writing this article, nor does Hydra Capital have any business relationship with companies mentioned in this post. I am long TXP.TO and NTR.TO)

Since I pointed out just how skewed the risk-reward had become on Touchstone Exploration (TXP.TO, last at $1.95) back on May 11th, the stock has done nothing but go up and to the right, which has made holding ..........................

[Proselenes]

finnCap have released an updated note on TXP. Download link below for the PDF file.

https://ufile.io/1nhjb3is


Price target raised to 123p based on current situation, and this includes nothing for Casca Deep or any other follow on prospects. They highlight the point that Chinook-1 hit in the deeper Cruse formation, and this deeper Cruse formation is the target of Casca Deep......so interesting times ahead.


The TXP story has legs........as finnCap say...

".....This is another impressive result with the drill bit from Touchstone, exceeding pre-drill expectations again and further confirming the accuracy of the company’s geological model. This not only de-risks the Cascadura Deep and Royston prospects but also opens up significant follow-on exploration opportunities. Touchstone has identified 21 additional prospects on the Ortoire block, representing five years of exploration drilling inventory for which we currently give zero value…this story has legs!....."

[Proselenes]

New interview with Paul Baay of TXP.

https://www.directorstalkinterviews.com/touchstone-exploration-chinook-success-further-confirms-the-geological-model-interview/412863768

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[Proselenes]

This was Xavier Moonans (TXP Geo) comment on Chinook-1 news by the way for those who have not seen it:


Chinook-1 gas discovery

"Despite being spud a mere 1.5 kilometres south of Cascadura, the Chinook anticline is separate from, and distinctly different than the Cascadura anticline to the north. The structural mapping on the Herrera interval reveals that Cascadura and Chinook are two anticlines converging toward each other, with Cascadura being a tighter but heavily stacked fold, thereby making it a taller structure, while Chinook is interpreted to be a simpler, broader fold."

When two anticlines verge toward each other, the footwall or Subthrust sheet establishes a triangle zone. In the case of Cascadura and Chinook the triangle zone focussed syn-kinematic deposition of Mid Miocene Karamat turbidites capped by thick Karamat and Lengua sealing shales.

The Subthrust is one of the exploration targets in Cascadura Deep

[Proselenes]

New presentation on the web site :

https://www.touchstoneexploration.com/w ... tation.pdf

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[Proselenes]

Just a little reminder.......

Which means of course.......all development costs for Coho, Chinook, Cascadura can be covered by borrowing more (and the facility is up to 50 million - currently only 20 million and only 15m of 20m borrowed)

Once Coho is on line later this year......Royston in 2021 will be paid for from operating cash flow........

Read the quotes below from Paul....... !!!


https://www.valuethemarkets.com/2020/08 ... egins-txp/


Paul Baay said the firm has enough financial firepower to finish drilling Chinook-1 – the hotly-anticipated, third well on its hugely prospective Ortoire exploration block that spudded earlier this week.

What’s more, he said the firm will have enough funds to follow up with a fourth well called Cascadura Deep later this year.

With a current cash balance of US$11 million, boosted by a recent US$2.8 million VAT repayment and US $9 million placing, Baay added that no plans are in place for Touchstone to raise money in the foreseeable future.

“It makes no sense to dilute investors through an equity placing,” he said. “Not when we already have the cash to complete this work ourselves.”


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Should Touchstone repeat the success of its first two wells at either of these opportunities, then Baay is once again highly confident that equity investors will not bear the brunt of development costs.

This comes down tothe firm’s recent closure of a seven-year, US$20 million term with Republic Bank – one of the Caribbean’s leading financial institutions.

Touchstone has already withdrawn US$15 million to satisfy obligations relating to its previous US$20 million credit facility with a Canadian lender from which it has now switched.

But Baay sees the relationship with Republic as a much more long-term arrangement that will open up increasingly as Touchstone grows, providing headroom that other explorers can only dream of:

“This is a real bank – there are no sweeteners, no warrants, no royalties, and no covenants until 2023. Republic is capable of lending up to US$50 million without syndication, so this means we can go back to them as we grow and make more discoveries on Ortoire, and they can grow with us.

It’s a super simple story right now; we’re going to drill the next two exploration wells, and away we go.”

The case for a material fundamental re-rate from Touchstone’s current market cap is clear.

[Proselenes]

Presentation video :

https://www.youtube.com/watch?v=7bDmIA1vS10

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[Proselenes]

Some of the comments from Paul Baay during the Proactive Presentation

Ortoire - " There are not many places in the world where you get 1500ft to 2,000ft of Turbidite section - we are right in the middle of the main fairway"

Ortoire - 2020/21 Drilling Programme

* Casca Deep - "Casca Deep is a very, very large structure sitting under Cascadura"

"It's a 40 day drill - hopefully we'll have a Christmas present for everybody by the middle of December"


* Cascadura - "3 to 4 development wells - even if Casca Deep does not work"


* Chinook - "multiple development wells, subject to successful testing, the discovery is bigger than what we were expecting" In answer to a question: "Yes. I would call Chinook 'World Class' "


* Royston Deep Drill - " has always been from day one the largest prospect on the bloc - it will offset an existing 1965 Shell well"

" We think Chinook has significantly derisked the Royston well - and has very large potential reserves"

Beyond that - "We have 24 different Ortoire prospects. Casca Deep and Royston will be drills 4 and 5. Following that we've identified all these other inclines and sand bodies in the heart of the fairway (page 16 on the latest presentation) - with different horizons and sands which is setting up a very long exploration runway for us - 10 years"


The Chinook Drill and a potential connection between Casca Deep and Chinook "The team made a call on Chinook when at the Terminal Depth to continue drilling as they had started to see hydrocarbons again.....so it looks like this - drilling the much larger deeper sheets - is going to be a really interesting opportunity for us"

"The Chinook drill is the first time that hydrocarbons have been found in the very, very lower sheet"

"There are two significance's to this:

1 - "Its the first time a well has been drilled (On Ortoire) that deep (to over 10,000ft)"

2 - "We think that potentially the deep prospect at Casca and the deep zone at Chinook could be connected - this would give a prospect with a much greater aerial extent than what we see in the upper sheets, and really sets up a very big opportunity for us and for the country, if these lower sheets are also hydrocarbon bearing."

"Stand by on the Casca Deep drill its going to be very exciting"

[Proselenes]

Worth a read :

https://oxfordbusinessgroup.com/overvie ... s-industry

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