The Lemon Fool

Hopefully he does not mean Coho has now moved again, and into July.......

https://www.guardian.co.tt/business/you ... 5b3385d905

Wed Jun 01 2022

..............Onshore, the Energy Minister said production out of Touchstone’s Ortoire block from its Coho and Cascudura discoveries, with first gas expected in the second half of 2022...............

Hey ho, TXP share price down to 54p today. I had thought that TXP might be immune to "small oily" troubles, but apparently I was wrong. Is it incompetence, e.g. failure to take seriously the challenges posed by over zealous environmental agencies? see
https://guardian.co.tt/news/is-the-ema-costing-tt-hundreds-of-millions-of-dollars-6.2.1515925.448be83063

Or maybe it's just bad bad luck and they have become yet another victim to the virulently anti fossil fuel sentiment that seems to prevail everywhere these days. OK, we all know that we need to phase out fossil fuels asap or we are all DOOMED, but a little bit of pragamatism might be in order so that we can make the transition to renewables smoothly. At one time I thought that the UK was unique in its capability to shoot itself in the foot in banning fracking, winding down its gas storage facilities etc. when there is clearly a medium term gas supply problem throughout Europe which isn't going to be fixed anytime soon.

Trinidad's Energy Ministry recently launched an onshore oil and gas licensing round
https://www.bnamericas.com/en/news/trinidad-opens-onshore-licensing-round
I wonder whether they have talked to their chums down at the Environmental Management Authority about making potential investors welcome?

Sigh.

S

Unfortunately TXP has just been an operational disaster.

In Q1 2021 :

Chinook - World class gas discovery
Royston - World class gas potential
Coho - online soon
Cascadura - online end of 2021.


Now as Q4 2022 approaches

Chinook - failure no production - no gas even - lots of water - and it might be oil updip......well might be drilled in 2024 ?
Royston - failure no production and its oil (well mostly water and some oil so far), if and when a commercial well can/might be drilled ? 2023 ?
Coho - online soon........ LOL.....yes, its still going to be next month....over a year later........
Cascadura - EIA still not approved - first production sometime in 2023 now, if the EIA approval ever gets done......


It is a complete and utter operational disaster and its amazing that so far, nobody has fallen on their sword..........shareholders are rightly very upset.

Casca approval yes or no decision before 15th September.

https://www.londonstockexchange.com/new ... a/15574431

.........Touchstone submitted the remaining EIA documentation on August 3, 2022, and the EMA responded on August 5, 2022 stating that the submitted information was reviewed and was deemed to be adequate to determine the outcome of the Company's CEC application. Pursuant to statutory CEC rules, the EMA confirmed that a final CEC determination will be made by September 15, 2022..............

.

Previous guidance was "EIA signed off end of April then first gas in September".

So applying a similar circa 5 months.

EMA will not want to be seen not doing a thorough job, so lets say approval comes Monday 12th Sept.

Cascadura will be online then around mid February 2023 and generating the "wall of cash" - finally.

Placing done, cashed up.

Cascadura coming online in Q1. Coho already on line. Royston drilling. I see a potential 200%+ in the coming 6 to 9 months.

New interview link below :

https://www.directorstalkinterviews.com ... 4121093842

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Proactive interview with the CEO.

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

.

Now that is good business.......very happy with that !!

https://www.londonstockexchange.com/new ... t/15786627

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More news soon, new licenses....

Touchstone have bid for 5 licenses.

St Marys and Tulsa and Cipero and Churuma and and Guauagguayaro

If they get those and also the new deal for Rio Claro and Balata East....wow....they will have a massive chunk of Central and South West Trinidad......

Malcys comment :

https://www.malcysblog.com/2023/01/oil- ... d-finally/

........This is a very useful property swap assuming that is that the technical team have correctly called the opportunities that give substantial potential upside at Herrera and there is no reason not to think that the deal will be substantially net positive for it.

At the Royston discovery and and at the Ortoire block these deals not only protect existing finds but also allows the company to extend them into the acreage. Such portfolio reorganisation is part of a high quality team being aware of adding reserves and production when it can do deals which provide added value.

I have been convinced for some years that the team at TXP have got a great, long term plan in place by which they constantly upgrade the portfolio in a meaningful scale. The overall quality and size of the asset base has always been a major reason for my positive view on the shares which rallied on original discovery and definitions of such a sizeable portfolio. 

Now that along with moves like this announced today, together with the successful bringing on of Coho last year and the imminent delivery of Cascadura and of course Royston to come means that a fully funded TXP can justify a Target Price of 200p per share and as I write the Bucket list for this year I am inking in the company with its substantial potential upside. ..........

https://trinidadexpress.com/business/lo ... 4e667.html

TOP STORY

Touchstone Bids on Five Blocks

................................

Interview with CEO PB

https://www.youtube.com/watch?v=DFUk3GomQw8

.

Rig is ready for inspection, then it gets drilling

https://www.facebook.com/TouchstoneExploration

Touchstone Exploration Inc. 16 h ·

The team is working hard over the weekend to transport equipment to the #Cascadura facility. The compressors and separators are currently en route with 30 employees and consultants helping to facilitate the move, ensuring that #health and #safety are at the forefront.

CANA update on TXP

Shore Cap update on TXP

Fincapp update on todays very very good news.

Shore Cap update on TXP :

https://trinidadexpress.com/business/lo ... d6dd3.html

Crude oil could soon flow from Touchstone’s Royston discovery

By the middle of April, the country should have a better idea whether Touchstone’s Royston oil discovery is as substantial as the company thinks it is and if it would see an immediate addition to the country’s oil production.

President and chief executive officer of the Canadian outfit, Paul Baay told Express Business the Touchstone 1-X well, which was recently completed, encountered a total section of ab......................