Hva mener dere om dette selskapet? Ser det står fryktelig mye informasjon lengre oppe, men med småbarn og jobb så skumleste jeg bare det som sto. Har eid aksjer i dette selskapet nå snart et år, å kursen har som i lang tid svinget veldig. Noen som kan sette en pekepinne på hva kursmålet er før/etter utbyttedato?
| TOUCHSTONE ANNOUNCES UPDATE ON CASCADURA-1ST1 WELL TESTING |  |
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CALGARY, ALBERTA (January 20, 2020) - Touchstone Exploration Inc. (“Touchstone”, “we”, “our”, “us” or the “Company”) (TSX / LSE: TXP) provides an exploration update, highlighted by the first stage of production testing of the Cascadura-1ST1 well on the Ortoire exploration block, onshore in the Republic of Trinidad and Tobago. The Cascadura-1ST1 production test was designed to evaluate a potential oil zone as indicated by cased hole logs. On commencement of testing, significant pressures and natural gas volumes were encountered on the clean-up flow. As a result, the Company suspended testing to bring in the appropriate equipment to measure high volumes of both natural gas and liquids.
Highlights
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The initial test interval was completed on January 17, 2020 to evaluate the lowermost 162 foot pay interval between 6,056 and 6,218 feet.
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The well was opened to test on January 18, 2020 on a 4/64" choke for a period of 97 minutes with load fluid, hydrocarbon emulsion and gas recovered at surface prior to shut-in.
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Shut-in tubing head pressure observed at surface built to 4,200 psi, which we deemed to be higher than current equipment could safely evaluate.
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The well is currently shut-in while we mobilize a three-phase separator and testing package designed to safely evaluate the high pressures and gas volumes observed upon initial completion.
Paul R. Baay, President and Chief Executive Officer, commented:
" This is the best possible outcome for the initial test results from the Cascadura well, as natural gas and liquids have superior economic value under the Trinidad fiscal regime. Based on the information acquired while drilling, the thick sand we encountered in the well appeared to contain oil with some associated gas. It is now evident that it is likely a liquids rich gas structure. Given this is only the lowermost 162 feet of pay in the well, these initial results are extremely encouraging."
Cascadura-1ST1 Well Testing
As previously announced, the Cascadura-1 exploration well (Touchstone 80% working interest operator, Heritage Petroleum Company Limited 20% working interest) was sidetracked (ST1) and ultimately drilled to a total depth of 6,350 feet. Cased hole wireline logs and drilling samples indicated approximately 1,037 feet of prospective hydrocarbon pay in the Cruse and Herrera formations at depths between 1,030 and 6,350 feet.
The initial production test of the Cascadura-1ST1 well has been designed to evaluate the lower 777 feet of prospective pay found in the Herrera Gr7c formation (5,516 - 6,162 feet) and the Herrera Gr7a formation (6,162 - 6,350 feet). The test is being conducted in two stages, with the first test evaluating the interval between 6,056 and 6,218 feet which is the lowermost pay interval isolated behind a 7" liner.
This first test commenced on January 17, 2020. Surface pressure of 2,100 psi was observed immediately upon completion and built rapidly to 3,200 psi over the span of six hours. The well was shut in overnight with pressure increasing to over 3,400 psi at surface before the well was opened on a 4/64" choke for a period of 97 minutes. During this initial cleanup period, 64 barrels of load water were recovered as well as approximately two barrels of emulsified formation fluid. These liquids were accompanied by significant gas flow which was too high to be measured with the onsite testing equipment. Flowing pressure increased to 3,900 psi during the cleanup test at which point the Company suspended testing.
The well is currently shut-in while a three-phase test separator is mobilized and installed which will allow the well to be tested safely at the high pressure and gas rates observed to date. The Company expects testing to resume over the next ten days and will provide further updates when available.
Under the Trinidad petroleum tax regime, all petroleum liquids are subject to the supplemental petroleum tax (“SPT”) which, at today’s oil prices, equates to 18 percent of net petroleum revenues. Petroleum revenues derived from the sale of natural gas are not subject to the SPT. Given that the Company presumed the initial test interval was predominantly oil bearing, the presence of high volumes of natural gas in preliminary testing is encouraging.
Coho-1
We are currently surveying the pipeline route for the previously announced Coho-1 natural gas discovery while working with local engineering firms on the design of the surface equipment required to bring the well on production. In parallel, we are drafting the required permitting documentation to construct the pipeline with the aim of bringing the well on production by June 2020.
Further Ortoire Exploration
The Company has commenced civil work on the access roads to the next two planned exploration prospects on the Ortoire exploration property.
Touchstone Exploration Inc.
Touchstone Exploration Inc. is a Calgary based company engaged in the business of acquiring interests in petroleum and natural gas rights and the exploration, development, production and sale of petroleum and natural gas. Touchstone is currently active in onshore properties located in the Republic of Trinidad and Tobago. The Company’s common shares are traded on the Toronto Stock Exchange and the AIM market of the London Stock Exchange under the symbol “TXP”.
For further information about Touchstone, please visit our website at www.touchstoneexploration.com or contact:
Mr. Paul Baay, President and Chief Executive Officer; or
Mr. James Shipka, Chief Operating Officer
Telephone: 403.750.4487|
En aldri så liten oppdatering av CEO i TXP 
| CASCADURA WELL TEST CONFIRMS SUBSTANTIAL LIQUIDS RICH GAS DISCOVERY |  |
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CALGARY, ALBERTA (February 6, 2020) - Touchstone Exploration Inc. (“Touchstone”, “we”, “our”, “us” or the “Company”) (TSX, LSE: TXP) announces that flowback testing of the first stage of the Cascadura-1ST1 well has been completed, confirming that the well is a significant liquids rich natural gas discovery.
Highlights
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Cascadura-1ST1 production testing commenced on February 4, 2020, with the first stage testing the lower most 162 feet of a total of 777 feet of identified pay in the Herrera formation.
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Average flowback rate during the final 14-hour test period was 5,180 barrels of oil equivalent per day (“boe/d”), including 26.9 million cubic feet per day (“MMcf/d”) of natural gas and 694 barrels per day (“bbls/d”) of natural gas liquids.
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Peak flowback rate of 5,736 boe/d, including 30.2 MMcf/dof natural gas and 710bbls/d of natural gas liquids.
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A total of 28.6 million cubic feet of gas (4,770 barrels of oil equivalent) and 680 barrels of natural gas liquids were produced during the testing period.
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Field analysis indicated liquids rich gas with no hydrogen sulfide and no produced water.
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The well is expected to be shut-in for a two-week pressure build-up test, following which we anticipate completing and testing an additional 450 feet of identified pay.
Paul Baay, President and Chief Executive Officer, commented:
"The Cascadura production test results represent a dramatic change for Touchstone, as it confirms the monumental resource potential of the Ortoire exploration block following the earlier success of our Coho-1 well. Furthermore, the test results are only attributable to the lower most portion of the well, and with 450 feet of contiguous sand to be tested, the full potential of the structure is yet to be defined.
To put these results in context, our average daily oil production for the three months ended September 30, 2019 was 1,729 bbls/d. The modelling from the final test results at Coho-1 supports initial gross production rates between 10 to 12 MMcf/d per day (approximately 1,667 to 2,000 boe/d) with Cascadura now set to provide a further step change. Given these results, the Company will focus on multiple tie-in scenarios in order to maximize economic value. The Ortoire exploration block continues to consistently and dramatically outperform expectations and presents an exciting new opportunity for both Touchstone and the onshore oil and gas industry in Trinidad."
Cascadura-1ST1 Testing
As previously announced, the Cascadura-1 exploration well on the Ortoire exploration block, onshore in the Republic of Trinidad and Tobago (Touchstone 80% working interest operator, Heritage Petroleum Company Limited 20% working interest) was sidetracked (ST1) and drilled to a total depth of 6,350 feet. Cased hole wireline logs and drilling samples indicated approximately 1,037 feet of prospective hydrocarbon pay in the Cruse and Herrera formations at depths between 1,030 and 6,350 feet. The first stage of the initial production test of the Cascadura-1ST1 well was designed to evaluate the lowest 162 feet of prospective pay found in the Herrera Gr7c and Herrera Gr7a formations between 6,056 and 6,218 feet. This interval was completed on January 17, 2020, and testing was suspended due to high pressures and natural gas volumes encountered on the clean-up flow.
The Company subsequently mobilized an international well testing company to assist in the evaluation of the high-pressure natural gas well. Natural gas production testing commenced on February 4, 2020 with flow tests spanning a total of 36 hours, comprised of an initial clean-up flow period, followed by an initial shut-in period and a four-step rate test, including a final 14-hour extended flow test.
Cascadura-1ST1 achieved a peak production rate in excess of 5,736 boe/d during the extended flow test period. This production rate included 30.2 MMcf/d of natural gas and 710 bbls/d of natural gas liquids. The flowing pressure of the well during this stage of testing was 3,305 psi through a 40/64" choke. During the final 14-hour extended flow test period, the well averaged a production rate in excess of 5,180 boe/d including 26.9 MMcf/d of natural gas and 694 bbls/d of natural gas liquids. The flowing pressure of the well during this test period was 3,319 psi through a 40/64" choke, resulting in an estimated 20% draw down. A total of 28.6 million cubic feet of natural gas (4,770 barrels of oil equivalent) was produced during testing, with 680 barrels of natural gas liquids and 38 barrels of water.
During the final extended flow test, Cascadura-1ST1 yielded an average of 54° API natural gas liquids at a ratio of approximately 26 barrels of free natural gas liquids per million cubic feet of natural gas produced. Field analysis of the produced gas indicated liquids rich natural gas with no hydrogen sulfide content. Additional testing of fluid samples will be conducted to accurately assess the gas and associated liquids composition.
The well is now expected to be shut-in for an extended pressure build-up survey. This build-up period is anticipated to take two weeks, after which the Company plans to complete and test the second stage of the Herrera Gr7bc formation targeting approximately 450 feet of pay immediately above the first test interval.
James Shipka, Chief Operating Officer, commented:
"The exceptional performance of the initial Cascadura test demonstrates the tremendous potential of the high-quality Herrera turbidites on the Ortoire block. The Coho and Cascadura discoveries have proven our turbidite model and indicate that the main sand fairway extends through a large portion of the Ortoire block. These discoveries provide further confidence as we move forward with two further exploration wells at our Chinook and Royston prospects which are targeting separate structures along the same geological trend."|
Sukk. Når har NORTH tenkt å la oss i minoriteten få lov til å profittere litt på denne (og andre) posisjoner ? Gi meg noen tegn på liv. Please.
Kommer jo litt ann på hvordan du ser på selskapet.
Jeg ser på selskapet som ett fond som er rettet mot olje og hvor rabatten er relativ stor i forhold til selskapsverdi. Videre så er det jo en gang slik at slike selskaper alltid handles med rabatt. spørsmålet er jo om rabatten er for stor eller liten.
TXP viser seg å være en svært god investering og dette er typen investeringer hvor vi vanlige normalt sett ikke har tilgang til før lenge etterpå.
I tillegg til dette så mangler vi jo avklaring på ca 115 million fra skattemydighetene. Dette har dratt betydelig lengre ut i tid enn hva jeg har sett for meg.
Når det gjelder det siste forholdet så kan det være mulig at skatteetaten ikke vil foreta seg noe før det foreligger dom fra HR i denne saken som etter etatens vurdering kan ha noen fellesnevnere:
Domstol:
Norges Høyesterett
Rettsmøtetype:
Ankeforhandling
Saksnr: 19-120229SIV-HRET
Sakstype: Sivil sak, anke over dom
Saken gjelder: Petroleumsrett. Om morselskapsgaranti omfatter krav om tilbakebetaling av urettmessig utbetalt leterefusjon.
Parter: Skeie Technology AS - Staten v/Finansdepartementet
Advokater: Kyrre Eggen - Anders Flaatin Wilhelmsen; Ole Kristian Rigland; Regjeringsadvokaten
Rettens leder: Indreberg, Hilde
Start- sluttdato: 25.02.2020 - 28.02.2020
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Interessant. Hvem blir kjøpt opp etterhvert ? REACH mon tro ? hm…
Denne har jeg gått og ventet på! Her er det en gjeng som satser og godt er det.
CALGARY, ALBERTA (February 19, 2020) - Touchstone Exploration Inc. (“Touchstone”, “we”, “us” or the “Company”) (TSX / LSE: TXP) announces a proposed placing (the “Placing”) of a minimum of US$9.1 million (approximately £7.0 million) through the issue of common shares of no par value (the “Placing Shares”) with institutional investors in the United Kingdom at a minimum price of 38 pence per Placing Share (approximately C$0.66) (the “Placing Price”). The Placing Price represents a 14.6 percent and 8.3 percent discount to 44.47 pence and 41.46 pence, being the five and ten day volume weighted average price of the Company’s common shares on the AIM market of the London Stock Exchange (“AIM”) as of February 18, 2020, respectively. In the event of excess demand, the Company reserves the right to increase the size of the Placing. The Placing is being completed by way of an accelerated bookbuild. Shore Capital is acting as sole bookrunner in connection with the Placing.
Background to the Placing and Use of Proceeds
The Company commenced its exploration program on the Ortoire block, onshore in the Republic of Trinidad and Tobago (Touchstone 80% working interest) in the second half of 2019, drilling two gross exploration wells (1.6 net). Coho-1, the first natural gas prospect, had an encouraging production test that exceeded the Company’s expectations. Touchstone completed drilling its second Ortoire exploration prospect, Cascadura-1, in December 2019, and the first stage of production testing in February 2020 confirmed a substantial liquids-rich gas discovery.
On the basis of the successful results from the first two Ortoire exploration wells, the Company is launching the Placing in order to support the drilling of a further Ortoire exploration well at the Chinook prospect, which is targeting a separate structure along the same geological trend. The net proceeds of the Placing are also expected to be used to complete the second stage of the Cascadura-1ST1 production test and provide additional working capital for the Company while it progresses the Ortoire exploration program. Subject to the result of the Placing, operational cashflows from ongoing production and prevailing commodity pricing, the Company intends to undertake drilling of the fourth exploration well at the Royston prospect on the Ortoire block and continue well recompletions on its current development properties in 2020.
Details of the Placing
The Placing is being completed within the Company’s existing share issuance authorities. Shore Capital and Corporate Limited and Shore Capital Stockbrokers Limited (together, “Shore Capital”) will be conducting an accelerated bookbuilding process in respect of the Placing (the “Bookbuild”). The book will open with immediate effect. Shore Capital has entered into an agreement with Touchstone (the “Placing Agreement”) under which, subject to the conditions set out therein, Shore Capital will agree to use its respective reasonable endeavours to procure subscribers for the Placing Shares at the Placing Price. The Placing is subject to the terms and conditions set out in the Appendix to this announcement. Members of the public are not entitled to participate in the Placing.
The Placing Shares will, when issued, be credited as fully paid and will rank pari passu in all respects with Touchstone’s existing issued common shares of no par value each (“Common Shares”). Details of the final number of Placing Shares and the Placing Price will be announced as soon as practicable after the closing of the Bookbuild.
Application will be made for the Placing Shares to be admitted to trading on the Toronto Stock Exchange (“TSX”) and AIM (“Admission”). It is expected that Admission will take place at or around 8.00 a.m. (London time) on February 26, 2020 (or such later date as may be agreed between the Company and Shore Capital). The Placing is conditional upon, inter alia, Admission becoming effective. The Placing is also conditional upon the Placing Agreement not being terminated in accordance with its terms.
All Placing Shares will be freely transferable outside of Canada; however, the Placing Shares are subject to a four-month and one day restricted hold period in Canada which will prevent such Placing Shares from being resold in Canada, through a Canadian exchange or otherwise, during the restricted period without an exemption from the Canadian prospectus requirement.
This announcement should be read in its entirety. In particular, you should read and understand the information provided in the “Important Notice” section of this announcement.
About Touchstone
Touchstone Exploration Inc. is a Calgary based company engaged in the business of acquiring interests in petroleum and natural gas rights and the exploration, development, production and sale of petroleum and natural gas. Touchstone is currently active in onshore properties located in the Republic of Trinidad and Tobago. The Company’s common shares are traded on the Toronto Stock Exchange and the AIM market of the London Stock Exchange under the symbol “TXP”.
For further information about Touchstone, please visit our website at www.touchstoneexploration.com or contact:
The Placing includes a subscription by North Energy ASA, an 8.9 percent shareholder of the Company, in respect of 3,750,000 Placing Shares. Following Admission, North Energy ASA will hold 17,990,250 common shares, representing 9.8 percent of the enlarged share capital of the Company.
The participation in the Placing by North Energy ASA is considered to be a related party transaction under Rule 13 of the AIM Rules for Companies. The Independent Directors consider, having consulted with the Company’s Nominated Advisor, Shore Capital, that the terms of the related party transactions are fair and reasonable insofar as shareholders are concerned.
North Energy ASA - Results for the fourth quarter 2019
North Energy ASA - Results for the fourth quarter 2019
På tide å sjekke Top50 for NORTH 