Touchstone Exploration ( TXP )

[Proselenes]

Just my summary picture of the 3 targets in Cascadura Deep-1 - should be perhaps 3 weeks or 4 weeks to drilling news.

Could be just an extra 100 BCF added on with success on the appraisal 1st target only through a range of scenarios which at the top end see's over 1 TCF of recoverable gas discovered. Fingers crossed Paul's Christmas present is on the large side.

[Proselenes]

Another brilliant drill result. We need a bigger rig, had to terminate early as pressures too high.

This license area is going to be massive, multi-TCF development ahead. Not just 1 TCF, more than that imo.

https://www.londonstockexchange.com/new ... s/14778559

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[Proselenes]

A delve in the detail.

Looks to me like :

Chinook-1 flow testing starts next week.

Initial Chinook-1 flow test results...December ?

Final Chinook-1 flow test results....January 2021 ?

Initial Casca-Deep-1 flow test results....February 2021 ?

Final Casca-Deep-1 flow test results....March 2021 ?

Coho-1 on line production March 2021 ?

Royston-1 well......Q2 2021 (May 2021?) - new big rig retained for Q3/Q4 onwards

Casca/Chinook production facilities....Q2 and Q3 2021

Casca/Chinook on-line production....Q4 2021

New Big Rig production/exploration drilling program.....commencing Q3/Q4 2021

[Proselenes]

Paul Baay is being interviewed by Katie at Proactive this afternoon.

Will be great to get his comments and thoughts.

[Proselenes]

Interview with Paul is here.

NGC deal by year end.

More money than they can spend by end of 2021.

Biggest prospect (Royston) in Q2.

hTTps://www.youtube.com/watch?v=Uye8cf2qrSM

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[Proselenes]

Finncap updated note on TXP in the PDF link below.

Target price increased to 188 pence a share (3.25 CAD equiv) and this does not include anything for the over 20 new prospects.

https://ufile.io/x7ik3b30

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[Proselenes]

https://www.valuethemarkets.com/2020/12 ... l-results/

..........The case for a fundamental and material re-rate of the company remains crystal clear. On these results we would expect TXP to hit a 20% upside of 150p by the end of Q1 2021, with a conservative 2021 year-end prediction closer to 190p-200p, which represents a 52%-60% updside...............

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[Proselenes]

Comment from Shore Capital.

'Risked NAV estimate upgraded to 200p

On 3rd December, Touchstone released yet another exceptional drilling update, this time in relation to its Cascadura Deep-1 exploration well, where significant hydrocarbon accumulations have been encountered. This result came sooner than we anticipated, with Touchstone having decided to suspend drilling at ~8,300ft, due to high gas pressures. Cascadura Deep-1 is Touchstone’s fourth Ortoire well and continues the company’s 100% drilling success rate.
Whilst there are a number of subsurface considerations here, including correlations with earlier discoveries, in simple terms Cascadura Deep-1 is the best well drilled by Touchstone to date, having encountered multiple stacked thrust sheets across a substantial sand thickness. Therefore, even ahead of production testing scheduled for early FY2021, we now expect a reserves impact far greater than we had previously anticipated, with this latest discovery also underpinning plans for a multi-well development (and expanded exploration) drilling programme.
We said in our commentary when the news came out that, ahead of fully revisiting our sum-of-the-parts valuation, a Risked NAV estimate of ~175p/share was looking more than appropriate, and we now take this early assessment up to exactly 200p/share – reflecting the significant value that Touchstone has added to its flagship Ortoire asset since drilling commenced last year.'

[Proselenes]

FinnCap Dec update on TXP

In case anyone could not download the copy on uploadfile.io I have now put it on GoFile. Link to the PDF file is below

https://gofile.io/d/UGJ8xI

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[Proselenes]

https://www.directorstalkinterviews.com/touchstone-exploration-inc-shore-capital-hail-exceptional-drilling-results-and-future-strong-earnings/412946496

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[Proselenes]

Well worth a listen.......comments on TXP - he is most excited about Touchstone.

https://www.youtube.com/watch?app=desktop&v=u0Fx3ySbii4

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[Proselenes]

Coverage of TXP inside.

https://issuu.com/iugodigital/docs/ener ... tquality/4

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[Proselenes]

New webinar on 14th January featuring TXP.

https://www.proactiveinvestors.co.uk/re ... etails/311

It is a Webinar (not an attended event in London). When you register you will get a link to the Webinar event.

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[Proselenes]

https://www.malcysblog.com/2020/12/the- ... list-2021/

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[Proselenes]

For anyone who missed it, or who does not have Twitter....below are the tweets from Xavier reference the seismic.

[Proselenes]

When he says "Deeper Stratigraphic Tests" does one assume they are looking at the sub thrust to see if Casca/Chinook/Royston has one massive underlying gas bearing zone - currently only the top of which has been touched by the Chinook drill before they had to stop as no more drill string left to go deeper.

Did that very famous T&T expert not post some time ago on Facebook about he thinks Ortoire will have 9TCF of gas ? (yes he said 9)

I hope he is right.

[Proselenes]

Below is the post from that man. Which also raises another question...........

[Proselenes]

And that question is.............. look at Royston.

Royston the mid-miocine gas target is yellow..........but hidden there (well not hidden) is a grey cretaceous target.

Now we know that these cretaceous targets in this part of the world have oil. Is there a big puddle of oil at Royston as well ?? In the words of KMP "TXP dont need to find a Liza sized oil discovery - just 100m barrels onshore is worth the same as 500m barrels offshore". Rosyton is going to be one truly big well - possibly 700 feet or more of gas and....... ?????????

[Proselenes]

NGC deal is announced.

https://www.londonstockexchange.com/news-article/TXP/enters-into-a-natural-gas-sales-agreement/14797929

[Proselenes]

Key summary by Paul.........loads of cash coming in, and we spend a minimal amount on surface facilities and tie ins as NGC deal with that.

Paul Baay CEO of Touchstone commented: "This agreement provides a stable, multi-decade revenue stream for Touchstone to fully develop the world-class asset at Ortoire. This transforms the company from being an exploration company to one that is a full cycle energy provider. The structure of the agreement provides the shareholders of Touchstone with a predictable cash flow and earnings stream for years to come while minimising the capital required to maximise the resource."