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New WHI note on PANR. Fair value target price increased to 208p a share.
Download link below (PDF file).
https://gofile.io/d/oWcWot
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I think people seriosuly overlooking the assets of ECO. I agree with Malcy....massive gains very possible.
With link - Malcys comment :
https://www.malcysblog.com/2022/06/oil-price-genel-savannah-touchstone-eco-ceg-petro-matad-arrow-and-finally/
.....This is very important deal for Eco Atlantic, it shows just how important South Africa is for the company and that Africa Oil and a small coterie of South African investors and done at a premium to the market price. But much more important in my mind is that to me Blocks 3/b and 4/b are like gold dust and here’s what CEO Gil Holzman said about the deal.........
My belief that this is the right call follows on from the recent success by Shell at Graff-1 and by Total at Venus 1-x in the spring. At the time the Shell discovery was estimated as a 2bn barrel find whilst WoodMack suggested Venus had 3bn b’s and could produce at some 250/- b/d.
Since then Shell have apparently drilled to appraisal wells and whilst they are both tight, word on the street is very positive at least from the first drill. If the 3/B and 4/B region is up to best standards then industry watchers are suggesting as much as 7bn barrels there with all that entails, and Eco have yet to drill the Gazania-1 well very shortly.
Every single major is knocking on this particular door, with Shell and Total already there and Exxon and Chevron rumoured to be in the area with the cheque book open. This makes the finding, and closure of this deal to be a spectacular success for Eco, the very thought of what a farm-out might look like makes me feel giddy.
Whilst there is never anything remotely certain in this business I think that as the time comes for 3/B and 4/B to be drilled Eco shares may have increased by c.5X +
UK ADVFN thread for Pantheon Resources :
https://uk.advfn.com/cmn/fbb/thread.php3?id=50280827
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Worth reading this again :
https://www.energyvoice.com/oilandgas/americas/exploration-production-americas/409514/alaska-pantheon-resources-production/
And remembering, there "Should be" lots of positive news.
Alkaid-2 spud
Alkaid-2 vertical well logging results.
Alkaid-2 resource upgrades from previously undrilled deeper Brookian
Alkaid-2 any testing of new discoveries in vertical well.
Alkaid-2 spud of Horizontal
Alkaid-2 frac complete
Alkaid-2 initial flow results from horizontal.
Thats a lot of news and a lot of potential share price upside. The risk of Alkaid-2 is deemed to be the "decline rate" but that will not appear until months after initial flow of the well, hopefully.
So from a trading perspective, while risk is still there of the normal drilling and testing cock ups........... there should be a real good run of good news through August/Sept/Oct/Nov.
I still believe we will see 175p at some point in September.
Spud of Alkaid-2 is around 3 weeks away.
Not long now to Gazania-1 spud in September.
Also news on Guyana targets for H1 2023 drilling should be coming out end of July
Interview link with Paul Baay on Proactive is below :
Xaviers presentation "Revisiting the Cretaceous of Trinidad" from April to the Houston Geological Society.
Most interesting.......insights into Krakken and Royston.
Interview with PB.
Coho "weeks away"......
Cascadura still planned on line end of Sept.
https://www.directorstalkinterviews.com/touchstone-exploration-strong-cash-position-and-increased-production-volumes-video/4121064625
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Shore Cap note on TXP just out. PDF file in the link below.
https://gofile.io/d/CNz2RS
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Malcys comments :
https://www.malcysblog.com/2022/05/oil-price-genel-touchstone-predator-and-finally/
..............Touchstone remains one of the outstandingly cheap stocks within this sector, after initial discoveries the market has taken its eye off the ball that should mean a substantial re-rating upwards from these levels. With exploration success feeding through to highly rewarding production of oil and gas which will themselves make TXP a self-financing and strongly financially secure investment.
I am looking forward to catching up with CEO Paul Baay on his upcoming visit to the UK at which time I will endeavour to book an interview and some ways to get this excellent message across to investors. ..........................
Nearly there.
https://www.londonstockexchange.com/news-article/TXP/first-quarter-2022-financial-and-operating-results/15448418
Coho 1st gas in 4 to 6 weeks - trenching in progress now.
NGC will buy the Coho pipeline from TXP (TXP has paid for it all so far, as started before the NGC gas agreement where they pay for all pipelines - will be a tidy sum coming back to TXP)
Cascadura FDP approved. Cascadura EIA no major issues, additional info to be submitted on 13th May then shortly after approval.
NGC has approval for the Cascadura pipeline, so once the EIA is signed off work commences immeadiately.
Dont forget the Reddit thread for PANR and others for up to date info.
Pantheon Resources : https://www.reddit.com/r/PantheonResourcesPANR/
PANR = OTC PTHRF
Eco Atlantic : https://www.reddit.com/r/EcoAtlantic_ECO_EOG/
ECO = OTC ECAOF
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Namibia’s next great hopes, beyond Venus and Graff
https://www.energyvoice.com/oilandgas/africa/ep-africa/404399/namibia-exploration-basins-discoveries/
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Josef Schacter - TXP a top pick
From 3 minutes 30 seconds in the video.
https://www.bnnbloomberg.ca/video/josef-schachter-s-top-picks~2425976
He says 6 CAD in 48 months, I would say 10 CAD in 24 months as a price target. But he will start low and gradually keep increasing his price target every 6 months I would think.
6 CAD is only 368 pence......my 10 CAD is a more likely 613 pence a share (after some Royston Deep drilling).
He refers to Royston being online in 2023, this refers to full FDP........they can and will keep producing by EWT until FDP is approved.
Reddit link for ECAOF (Eco Atlantic) discussion and info.
https://www.reddit.com/r/EcoAtlantic_ECO_EOG/
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Paul Baay at the UK Investor Show
Date: The Global Group UK Investor Show will take place on Saturday 21st May 2022
Location: QEII Centre, London, SW1P 3EE
#TXP’s President and CEO, Paul Baay, will be speaking at the @UKInvestorShow in London on May 21, 2022. Find out more about the event here: https://t.co/chIH4asjax and use code TOUCHSTONE22 to redeem a free standard ticket. pic.twitter.com/aZfuPZTOOI
— Touchstone Explor. (@TouchstoneExp) April 14, 2022
Africa Energy presentation from Sept 2021.
Info on Gazania-1 well is from 14 minutes 20 seconds onwards in the video.
https://businessinsider.mx/cnooc-china-oil-gas-exit-us-uk-canada-sanctions-russia-2022-4/
.......CNOOC is planning to buy assets in Latin America and Africa as it prepares to leave its Western operations, the sources said. In its 2021 annual report, the company said it was eyeing the Bohai and South China seas as well as parts of Guyana for production growth............
In partnership with Tullow Oil and Total EP Guyana BV, Eco holds a 15% working interest in the 1800 km2 Orinduik offshore block in the shallow water of the prospective Guyana-Suriname basin. Notably, the licence area is adjacent and updip to ExxonMobil’s 13 world class discoveries on the Stabroek Block where recoverable resources are estimated to be over 6 billion barrels of oil. Guyana cretaceous drilling expected 2021
Offshore Namibia and South Africa ECO holds interests in highly prospective relatively derisked exploration assets.
UK London AIM listing under ticker : ECO
Canada TSXV listing under ticker : EOG
US OTC listing under ticker : ECAOF
Gazania-1 Well Information (Spud Q3 22) : https://www.africaenergycorp.com/site/assets/files/3246/2021-04-block2b-presentation.pdf
New FinnCap note on TXP.
Download link is below (PDF file).
https://gofile.io/d/uSkrAj
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Rosyton pad video overview now on Twitter :
A different view of the #Royston-1 drilling pad showing the scale and location of the site. #OilandGas #Trinidad #TXP pic.twitter.com/FG0XCB6Vem
— Touchstone Explor. (@TouchstoneExp) April 8, 2022
So, my summary of the main points from the presentation:
Cash flow positive now from operations.
Fully funded to bring Coho and Cascadura online.
Focus is get them both on line, get the cash flowing.
No more equity fund raising so no placings.
Coho on line in May 2022 with 10mmscf/day
EIA approval of Cascadura mid May 2022.
Cascadura online around September 2022 all being well with 90mmscf/day
Once clear line of sight of Cascadura being online drilling resumes.
Drilling in 2022 will be 2 off Coora wells, then Royston-1 sidetrack.
Then in Q4 Cascadura development drilling commences after sidetrack.
Royston-1 currently producting 70bopd from the upper tiny section of Overthrust only.
Sidetrack will drill through the complete intermediate section.
Intermediate section (part of) did 550bopd before.
Sidetrack complete we may see up to 1000bopd cumulative from Royston-1.
Unsure at this time if sidetrack will poke into top of the subthrust.
Danger being going deeper may create issues, dont want to lose the intermediate.
Subthrust expected to be oil and highly prolific based on PB oilfield.
May wait for Royston Deep-1 in 2023 to go into Sub Thrust.
2023 continues with Cascadura development drilling to get up to 200mmscf/day asap.
Royston Deep-1 and Krakken-1 will be fitted into the plan as and when possible.
Coho-2 production well likely in 2023.
Focus is, get production up and up and up.
5 year extension to the Ortoire exploration license allows explo drills to be second priority now, no rush. Fit them in as and when between development wells.
Did I mention no placings ?
Legacy WD wells drilled last year are now being finished with the service rig
Production from these wells should near double after servicing/pump install.
Oil samples from Royston align with Guyana/Suriname oil, bodes well for Krakken drill.
Excess cash flow will be directed back into development and exploration drilling.
If still excess then certainly looking at dividends.
Changing company from exploration with a little production to
Production, loads of cashflow with large exploration upside.
Looking at new licenses in the coming bid round, they know the ones with Cretaceous leads in them, for follow on exploration if Krakken has oil.
Downhole issues experienced in 20/21 have been looked at and investigated and actions taken to improve performance in future.
My own thoughts on this :
2022 likely to see Coora wells start in H2, then Royston-1 sidetrack. Then Cascadura B1 and B2 development wells in Q4.
2023 starts with Cascadura C1 and C2 development wells, then possibly Rosyton Deep-1 and Krakken-1 and then Coho-2.
10.5 million current share short will have to be closed buying from the market, no placings.
May should have lots of news (Coho and EIA) and then a short run to Casca being online. So we should see now a positive share price uptrend into Cascadura production online and of course, sometime that big short must close.
31st March 2022 Presentation Video
INVESTOR PRESENTATION
CALGARY, ALBERTA (March 30, 2022) - Touchstone Exploration Inc. ("Touchstone", " or the "Company") (TSX, LSE: TXP) is pleased to announce that President and CEO, Paul Baay, COO, James Shipka, CFO, Scott Budau and the Touchstone team will provide an Investor Update presentation and Q&A via the Investor Meet Company platform on Thursday, 31 March 2022 at 1:00pm BST.
The presentation is open to all existing and potential shareholders. Questions can be submitted pre-event via your Investor Meet Company dashboard up until 9am the day before the meeting or at any time during the live presentation.
To register for the event please use the following link:
https://www.investormeetcompany.com/touchstone-exploration-inc/register-investor
For further information about Touchstone, please visit our website at www.touchstoneexploration.com or contact:
Mr. Paul Baay, President and Chief Executive Officer Tel: +1 (403) 750-4487
Mr. James Shipka, Chief Operating Officer
Mr. Scott Budau, Chief Financial Officer
https://thewest.com.au/business/public-companies/88-energy-strikes-oil-at-depth-ahead-of-logging-c-6175117
88 Energy strikes oil at depth ahead of logging
Headshot of Matt Birney
Matt Birney
Wed, 23 March 2022 12:04PM
The numbers appear to be stacking up for 88 Energy after it successfully reached total depth in the Merlin-2 appraisal well in Alaska and struck oil. It is now waiting on wireline logging results to confirm whether it will flow to surface from the target Nanushuk Formations.
The company said logging would take 7-10 days to complete at its 100 per cent owned well, located in the NPR-A region of the prolific North Slope of Alaska.
It also said all three N20, N19 and N18 target reservoirs in the Nanushuk were intersected, adding logging while drilling, or “LWD” data and physical cuttings were collected throughout the Merlin-2 program.
The logs showed thicker target intervals were intersected than in the original Merlin-1 discovery well with oil shows seen in daylight, or white light conditions in the three target Nanushuk reservoirs. Merlin-1 was a non-commercial oil discovery.
The company received further encouragement with fluorescent oil shows under ultraviolet light indicating hydrocarbons in Merlin-2, that is targeting a net unrisked mean prospective resource of 652 million barrels.
88 additionally reported significant mud gas peaks across all target sequences in the Nanushuk, with notable increases in the heavier C2-C5 hydrocarbon compounds in each horizon.
According to the company, a sophisticated wireline logging program will now be run designed to confirm reservoir quality and determine if hydrocarbons will flow to surface.
The wireline logging program will consist of multiple runs, including fluid sampling and flow potential measurements, side wall cores and image logs.
The Arctic Fox rig has also exceeded expectations in drilling performance, with the well reaching the 7334-foot TD safely and efficiently, the company added.
The results to date from the Merlin-2 well are encouraging. Initial indications are that all three target reservoirs in the Merlin-2 well were penetrated, demonstrated elevated gas readings, and observation of cuttings samples have revealed oil shows over the target intervals.
88 Energy Managing Director, Ashley Gilbert.
We look forward to results from the pending wireline program, which is set to be conducted over the next 7 to 10 days. Following completion of this program, we hope to be able to confirm the presence of mobile hydrocarbons, and a discovery, at Merlin-2,” he said.
Investors will be keenly anticipating the pending news from 88 to see if its technical success can translate into commercial reality and hopefully match other discoveries on the Alaskan North Slope.
Look, this initial news is the very best it could be at this stage. its identical to the Pantheon Resources initial Theta West news. The only difference is here that PANR claimed to have "hydrocarbon indications" - gas shows in other words - and could state"oil' as they had Batker Hughes VAS doing samples along the way.
Had PANR/PTHRF not had VAS their initial news release would have read exactly the same as 88E today.
https://www.investegate.co.uk/pantheon-resources--panr-/rns/theta-west--1-operational-update/202202150700067050B/
88E does not have VAS services.....so they must do wireline logging to test samples to confirm oil.
The differences are :
PANR claims "hydro indications" - 88E has claimed the same "hydrocarbon indications".
PANR failed with wireline - 88E is proceeeding to wireline.
PANR claimed oil based solely on VAS results - 88E has no VAS so much wait for wireline sampling.
People with a bit of oil intelligence and knowledge can see that and are buying. Those who have no clue for sure are selling, and they will probably be cyring into their beer on the next news of "commercially recoverable oil" next week imo.
Very significant differences between Merlin-1 and Merlin-2. From all the information so far it looks likely that Merlin-2 will deliver net oil pay, and of a very decent size given the thicker than expected reservoir. Fingers crossed could be boom time next week with the next update.
Merlin 1
1. Mud gas peaks were also recorded and, although generally not of the same scale of the increase in total gas above background as that seen in the Analogue Wells, one of the prospective horizons in Merlin-1 did have substantially elevated total gas
2. With slow to moderate sometimes fast streaming cut when exposed to solvent
Merlin 2
1. Finally, significant mud gas peaks were detected across all target sequences
2. Target intervals are thicker than those encountered in Merlin-1
3. “moderately fast” to “immediate and blooming” “cuts” were noted, the speed of which is often a PROXY for sample PERMEABILITY.
New video release by 88E
New Theta West video from @PantheonResour1
2 PDF download links - Cenkos on #88E $EEENF @88EnergyLtd #Alaska #PANR $PTHRF. Also note on Surface Transforms #SCE @STBrakes
Two excellent shares, one oil, one technology. Both have massive potential #oil 1 high & 1 low risk
https://gofile.io/d/NDxheh
https://gofile.io/d/v5oTm7
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The main thing is Theta West is ok.......as was posted when we found the rig was moving yesterday.
Thats the big one.
SMD is disappointing but nothing is lost or changed and all being well they can return to test again after Theta West.
Theta West flowing is the biggie....and given the BFF flowed well at Talitha and this is updip and better reservoir, now they have casing set and ready to test, it should be pretty much bolted on it will flow well. So a couple of weeks to the big big news now.....its all behind pipe and safe and ready to be tested.....risk is definitely reduced now.