Got a credit card? use our Credit Card & Finance Calculators
Thanks to gpadsa,Steffers0,lansdown,Wasron,jfgw, for Donating to support the site
Touchstone Exploration ( TXP )
-
- Lemon Quarter
- Posts: 1372
- Joined: November 15th, 2016, 6:04 am
- Has thanked: 58 times
- Been thanked: 389 times
-
- The full Lemon
- Posts: 16629
- Joined: October 10th, 2017, 11:33 am
- Has thanked: 4343 times
- Been thanked: 7536 times
Re: Touchstone Exploration ( TXP )
You are you understand, writing to yourself.
Dod
No he's not. I'm reading them and patiently waiting for big result.
Dod
No he's not. I'm reading them and patiently waiting for big result.
-
- Lemon Quarter
- Posts: 1372
- Joined: November 15th, 2016, 6:04 am
- Has thanked: 58 times
- Been thanked: 389 times
Re: Touchstone Exploration ( TXP )
Trinidad SOE (State of Emergency) extended for 90 days. However the PM has said this does not mean lockdown for 90 days, they may end lockdown in 4 weeks or 6 weeks.....it just means they have the legal SOE powers for 90 more days.
Target is to lift lockdown on July 4th - all being well with the vaccination program and falling Covid infection rates.
So expect more delays for TXP - nothing anyone can do - its Covid.
https://trinidadexpress.com/news/local/ ... ba74b.html
.
Target is to lift lockdown on July 4th - all being well with the vaccination program and falling Covid infection rates.
So expect more delays for TXP - nothing anyone can do - its Covid.
https://trinidadexpress.com/news/local/ ... ba74b.html
.
-
- Lemon Quarter
- Posts: 1372
- Joined: November 15th, 2016, 6:04 am
- Has thanked: 58 times
- Been thanked: 389 times
-
- Lemon Quarter
- Posts: 1372
- Joined: November 15th, 2016, 6:04 am
- Has thanked: 58 times
- Been thanked: 389 times
-
- Lemon Quarter
- Posts: 1372
- Joined: November 15th, 2016, 6:04 am
- Has thanked: 58 times
- Been thanked: 389 times
Re: Touchstone Exploration ( TXP )
Write up from ValueTheMarkets on TXP. PDF file in the link below :
https://assets.valuethemarkets.com/wp-c ... -02-v5.pdf
.
https://assets.valuethemarkets.com/wp-c ... -02-v5.pdf
.
-
- Lemon Quarter
- Posts: 1372
- Joined: November 15th, 2016, 6:04 am
- Has thanked: 58 times
- Been thanked: 389 times
Re: Touchstone Exploration ( TXP )
Really big shorts still to close out here........ any short squeeze of this size will see a massive spike.
June figures will be out soon.
TXP Stock on Loan from Euroclear
Jan 2021____0.52%
Feb 2021____1.23%
Mar 2021____7.14% Shorts come on on bad news
Apr 2021____8.65% Price suppression
May 2021____8.79% Price suppression
Jun 2021 Figures coming soon, I am expecting a further increase in shorts level.
June figures will be out soon.
TXP Stock on Loan from Euroclear
Jan 2021____0.52%
Feb 2021____1.23%
Mar 2021____7.14% Shorts come on on bad news
Apr 2021____8.65% Price suppression
May 2021____8.79% Price suppression
Jun 2021 Figures coming soon, I am expecting a further increase in shorts level.
-
- Lemon Quarter
- Posts: 1372
- Joined: November 15th, 2016, 6:04 am
- Has thanked: 58 times
- Been thanked: 389 times
Re: Touchstone Exploration ( TXP )
Article on the need for more and more exploration in T&T. Highlights how important Cascadura and Royston (if Royyton hits gas) are going to be short term and how, once Covid is no longer causing delays - we should see much faster progress getting things on line.
I think this is already being addressed by the "one approval for all of Cascadura" approach......so that once approved they can go ahead with all the infill drilling they want and its all pre-approved. Same process would apply to Royston then if Royston hits gas.
Fast progress might sound weird given all the current delays due to Covid, State of Emergency, permitting approvals as nobody done permitting for new gas onshore for decades etc....... but all of those will be going away in the months ahead and finally progress should become much faster - basically its in the governments and NGC interest to do so.....TXP will be just riding on their backs then and it will be the NGC chasing up TXP to get a move on.
https://www.hellenicshippingnews.com/bo ... lobaldata/
.
I think this is already being addressed by the "one approval for all of Cascadura" approach......so that once approved they can go ahead with all the infill drilling they want and its all pre-approved. Same process would apply to Royston then if Royston hits gas.
Fast progress might sound weird given all the current delays due to Covid, State of Emergency, permitting approvals as nobody done permitting for new gas onshore for decades etc....... but all of those will be going away in the months ahead and finally progress should become much faster - basically its in the governments and NGC interest to do so.....TXP will be just riding on their backs then and it will be the NGC chasing up TXP to get a move on.
https://www.hellenicshippingnews.com/bo ... lobaldata/
.
-
- Lemon Quarter
- Posts: 1372
- Joined: November 15th, 2016, 6:04 am
- Has thanked: 58 times
- Been thanked: 389 times
Re: Touchstone Exploration ( TXP )
https://touchstoneexploration.com/inves ... r-meeting/
TXP AGM : Wednesday, June 9, 2021 at 10:00 a.m. (Mountain time)
Virtual-only Meeting via live audio webcast at https://web.lumiagm.com/250272848
How to register to attend in the link below (PDF).
https://www.touchstoneexploration.com/w ... -Guide.pdf
.
TXP AGM : Wednesday, June 9, 2021 at 10:00 a.m. (Mountain time)
Virtual-only Meeting via live audio webcast at https://web.lumiagm.com/250272848
How to register to attend in the link below (PDF).
https://www.touchstoneexploration.com/w ... -Guide.pdf
.
-
- Lemon Quarter
- Posts: 1372
- Joined: November 15th, 2016, 6:04 am
- Has thanked: 58 times
- Been thanked: 389 times
Re: Touchstone Exploration ( TXP )
Thanks to domus for some info.
Seems the NGC pipeline to connect Cascadura does not need an EIA.....its only the liquids line from Cascadura down that needs the EIA approvel.
So hopefully the NGC can start laying the Cascadura pipeline in once the State of Emergency is over, hopefully in early July.
Makes it more likely see production around year end if thats the case.
I do believe in the first instance liquids from Cascadura will be trucked, with the pipeline being in place later on in 2022.
This is quicker and also more cost effective, no up front cost to TXP laying in a liquids pipeline until they are flush with cash later in 2022....better just to truck it from site to start with, yes it means less profit per barrel for the liquids but saves a massive amount of money on the liquids pipeline - which is of course TXP cost as the NGC only pays for the gas pipelines.
Seems the NGC pipeline to connect Cascadura does not need an EIA.....its only the liquids line from Cascadura down that needs the EIA approvel.
So hopefully the NGC can start laying the Cascadura pipeline in once the State of Emergency is over, hopefully in early July.
Makes it more likely see production around year end if thats the case.
I do believe in the first instance liquids from Cascadura will be trucked, with the pipeline being in place later on in 2022.
This is quicker and also more cost effective, no up front cost to TXP laying in a liquids pipeline until they are flush with cash later in 2022....better just to truck it from site to start with, yes it means less profit per barrel for the liquids but saves a massive amount of money on the liquids pipeline - which is of course TXP cost as the NGC only pays for the gas pipelines.
-
- Lemon Quarter
- Posts: 1372
- Joined: November 15th, 2016, 6:04 am
- Has thanked: 58 times
- Been thanked: 389 times
Re: Touchstone Exploration ( TXP )
Interesting that Trinidad will finally be offering new licensing rounds for oil and gas deep/shallow and onshore.
Wonder if Mr Moonan's scouting missions for the past many months and ongoing will yield TXP putting in for some new license areas when the process is opening.
Quite possibly they might be bidding for quite a few, given the wall of cash coming in as 2022 progresses and too much money to spend on what they have so far.......some new exploration acreage would certainly be interesting.
https://www.argusmedia.com/en/news/2223 ... ls-by-2022
..........The government will encourage further development over the next 12 months with licensing rounds for deepwater, shallow-water and onshore acreage, he said..........
.
Wonder if Mr Moonan's scouting missions for the past many months and ongoing will yield TXP putting in for some new license areas when the process is opening.
Quite possibly they might be bidding for quite a few, given the wall of cash coming in as 2022 progresses and too much money to spend on what they have so far.......some new exploration acreage would certainly be interesting.
https://www.argusmedia.com/en/news/2223 ... ls-by-2022
..........The government will encourage further development over the next 12 months with licensing rounds for deepwater, shallow-water and onshore acreage, he said..........
.
-
- Lemon Quarter
- Posts: 1372
- Joined: November 15th, 2016, 6:04 am
- Has thanked: 58 times
- Been thanked: 389 times
Re: Touchstone Exploration ( TXP )
Brief updates as we stand now.
Chinook testing equipment is on site now it seems. Slim chance of testing news later this week, most likely news on the Cruse test at Chinook next week.
Royston on schedule to spud before mid July.
Coho pipe routing still in discussion.
Chinook testing equipment is on site now it seems. Slim chance of testing news later this week, most likely news on the Cruse test at Chinook next week.
Royston on schedule to spud before mid July.
Coho pipe routing still in discussion.
-
- Lemon Quarter
- Posts: 1372
- Joined: November 15th, 2016, 6:04 am
- Has thanked: 58 times
- Been thanked: 389 times
Re: Touchstone Exploration ( TXP )
Maybe the Chinook test might be put back.
Maybe some unexpected news ahead - nothing too exciting just perhaps a change of plan with Chinook testing going backwards and oil drilling being bought forward ..........
With oil prices so high, it might be that they use a rig and start their drilling in the South West oil fields early, dont wait for the new rig to arrive, start drilling them now if a rig is available.
If each well comes in at 200bopd and only costs 1 million each then.......
Each well pays for itself in less than 6 months at current oil prices, then its pure profit. The 2000bopd allowance on SPT is not being utilized fully at the moment, so I do wonder if they might fast track a couple of wells in the South West if a small rig is available to use on the island. If they get better than 200bopd the payback is very much quicker obviously.
With winter ahead and the potential for oil prices to spike as demand rises - it might be a good plan to get those additional oil wells drilled quicker.
Get a couple of wells done now and then leave a couple of wells for the new big rig in October/November once its arrived and up and running.
We shall see.
Maybe some unexpected news ahead - nothing too exciting just perhaps a change of plan with Chinook testing going backwards and oil drilling being bought forward ..........
With oil prices so high, it might be that they use a rig and start their drilling in the South West oil fields early, dont wait for the new rig to arrive, start drilling them now if a rig is available.
If each well comes in at 200bopd and only costs 1 million each then.......
Each well pays for itself in less than 6 months at current oil prices, then its pure profit. The 2000bopd allowance on SPT is not being utilized fully at the moment, so I do wonder if they might fast track a couple of wells in the South West if a small rig is available to use on the island. If they get better than 200bopd the payback is very much quicker obviously.
With winter ahead and the potential for oil prices to spike as demand rises - it might be a good plan to get those additional oil wells drilled quicker.
Get a couple of wells done now and then leave a couple of wells for the new big rig in October/November once its arrived and up and running.
We shall see.
-
- Lemon Quarter
- Posts: 1372
- Joined: November 15th, 2016, 6:04 am
- Has thanked: 58 times
- Been thanked: 389 times
Re: Touchstone Exploration ( TXP )
Coho news soon ?
https://energynow.tt/blog/minister-youn ... tunitynbsp
........Later in the conference, Touchstone CEO, Paul Baay provided confirmation of Minister Young’s approach, when he thanked him for clearing some of the barriers that were holding back the small, but fast-to-deliver, onshore Coho gas field..........
.
https://energynow.tt/blog/minister-youn ... tunitynbsp
........Later in the conference, Touchstone CEO, Paul Baay provided confirmation of Minister Young’s approach, when he thanked him for clearing some of the barriers that were holding back the small, but fast-to-deliver, onshore Coho gas field..........
.
-
- Lemon Quarter
- Posts: 1372
- Joined: November 15th, 2016, 6:04 am
- Has thanked: 58 times
- Been thanked: 389 times
Re: Touchstone Exploration ( TXP )
News out on the SW oil licenses. And also first confirmation of the deep potential at Coora.
https://www.londonstockexchange.com/new ... s/15026769
News flow commences, hopefully a load more updates in the coming weeks on Coho and Casca and Royston and more.
https://www.londonstockexchange.com/new ... s/15026769
News flow commences, hopefully a load more updates in the coming weeks on Coho and Casca and Royston and more.
-
- Lemon Quarter
- Posts: 1372
- Joined: November 15th, 2016, 6:04 am
- Has thanked: 58 times
- Been thanked: 389 times
Re: Touchstone Exploration ( TXP )
So the Minister is expecting :
Coho on line before end of September.
Cascadura on line before year end.
Chinook Cruse (testing) on line before year end.
Opening address by Energy Minister Stuart Young at the (SPETT) International Energy Resources Conference and Exhibition 28th June 2021
https://www.energy.gov.tt/wp-content/up ... ddress.pdf
Main TXP related extract below:
"The COVID-19 pandemic has had an impact on both oil and gas production.
Whereas oil production has rebounded to the 2019 level, gas production is taking a
little longer to regain the momentum that was dampened by plant turnarounds,
reduced demand due to low petrochemical prices and operational issues including
infrastructure work to bring on new production. The issues that impacted on gas
production in 2020 and so far in 2021 have been largely addressed or mitigated."
"Over the next 18 months, new gas production is projected to come onstream from
all of the upstream operators. BHP’s Ruby project is already on stream and
Touchstone’s Coho field is due to come onstream in the third quarter 2021.
Touchstone’s Cascadura and Chinook field are expected to come on line in the
fourth quarter 2021."
Coho on line before end of September.
Cascadura on line before year end.
Chinook Cruse (testing) on line before year end.
Opening address by Energy Minister Stuart Young at the (SPETT) International Energy Resources Conference and Exhibition 28th June 2021
https://www.energy.gov.tt/wp-content/up ... ddress.pdf
Main TXP related extract below:
"The COVID-19 pandemic has had an impact on both oil and gas production.
Whereas oil production has rebounded to the 2019 level, gas production is taking a
little longer to regain the momentum that was dampened by plant turnarounds,
reduced demand due to low petrochemical prices and operational issues including
infrastructure work to bring on new production. The issues that impacted on gas
production in 2020 and so far in 2021 have been largely addressed or mitigated."
"Over the next 18 months, new gas production is projected to come onstream from
all of the upstream operators. BHP’s Ruby project is already on stream and
Touchstone’s Coho field is due to come onstream in the third quarter 2021.
Touchstone’s Cascadura and Chinook field are expected to come on line in the
fourth quarter 2021."
-
- Lemon Quarter
- Posts: 1372
- Joined: November 15th, 2016, 6:04 am
- Has thanked: 58 times
- Been thanked: 389 times
Re: Touchstone Exploration ( TXP )
June 2021 figures now out.
TXP Stock on Loan (Shorts) from Euroclear
Jan 2021____0.52%
Feb 2021____1.23%
Mar 2021____7.14%
Apr 2021____8.65%
May 2021____8.79%
Jun 2021____8.74%
So still roughly the same level.
I should make it clear as I was mistaken by this, it is actually the Stock On Loan from CREST. So all your nominee accounts, how much is being loaned out from CREST.
In the case of TXP - there was average 103M stock held in CREST in June 2021 and 8.74% on average was loaned out.
So that means the short position is around 9M shares.
So everyone, YOUR SHARES, held in CREST by your broker, may well be being loaned out (at a fee) to the shorter !!!!!
Yes, you are paying them to hold your shares and they are then loaning them out to shorters for a nice fee.
YOU SHOULD -
Contact your broker and ask them for a yes/no answer whether they loan out shares that are held on CREST.
If they say no and put it in writing, fair enough.
If they do not answer, or pint to the small print of your terms and conditions, or say yes.......... MOVE YOUR SHARES TO ANOTHER BROKER !!!!!!!!
TXP Stock on Loan (Shorts) from Euroclear
Jan 2021____0.52%
Feb 2021____1.23%
Mar 2021____7.14%
Apr 2021____8.65%
May 2021____8.79%
Jun 2021____8.74%
So still roughly the same level.
I should make it clear as I was mistaken by this, it is actually the Stock On Loan from CREST. So all your nominee accounts, how much is being loaned out from CREST.
In the case of TXP - there was average 103M stock held in CREST in June 2021 and 8.74% on average was loaned out.
So that means the short position is around 9M shares.
So everyone, YOUR SHARES, held in CREST by your broker, may well be being loaned out (at a fee) to the shorter !!!!!
Yes, you are paying them to hold your shares and they are then loaning them out to shorters for a nice fee.
YOU SHOULD -
Contact your broker and ask them for a yes/no answer whether they loan out shares that are held on CREST.
If they say no and put it in writing, fair enough.
If they do not answer, or pint to the small print of your terms and conditions, or say yes.......... MOVE YOUR SHARES TO ANOTHER BROKER !!!!!!!!
-
- Lemon Quarter
- Posts: 1372
- Joined: November 15th, 2016, 6:04 am
- Has thanked: 58 times
- Been thanked: 389 times
-
- Lemon Quarter
- Posts: 1372
- Joined: November 15th, 2016, 6:04 am
- Has thanked: 58 times
- Been thanked: 389 times
Re: Touchstone Exploration ( TXP )
Finncap July update on TXP.
They expect Coho on production around end of Q3 (so lets say October then) and Cascadura on line in Q2 2022.
PDF file in the link below.
https://gofile.io/d/3S291N
.
They expect Coho on production around end of Q3 (so lets say October then) and Cascadura on line in Q2 2022.
PDF file in the link below.
https://gofile.io/d/3S291N
.
Return to “Oil & Gas & Energy (Sector & Companies)”
Who is online
Users browsing this forum: No registered users and 12 guests