Re: Todays TXP presentation summary.
Adding to nocents' summary, is a poster from Stockhouse, Spitfire, who has prepared a list of comments made by CEO Paul, in London. I will be holding my shares for the immediate future!
Here were my notes:
1) Coho on production prior to y/e
2) Gas is expected (Ortoire) at Phoenix Park Industrial Complex
3) Thinks with rig modifications, heavier drilling fluid will be able to get to Casc Deep on Chinook
4) Has inventory of 21 additional drilling projects as of now on Ortoire, or 5 year program
5) Expects gas contract to be signed sometime next month to take all gas from Ortoire; contract valued at $1B; is not a take or pay contract model, discussion seems to be on pricing between industrial price on Trinidad and LNG pricing.
6) Still expects Cascadura deep prior to year end
7) Coho development-pipe on site and coated; separator being delivered
8) Oil Plays-208 drilling locations, or 20 year development inventory
9)Oil volumes produced $1MM US positive cf in first six months of year with unfavorable pricing
10) Looking at methods of gas capture on oil developments - capture and using as fuel for equipment or to generate steam for injection
11)Absolutely refused to comment on Chinook progress. Says we need wait until end of month before he will talk on.
12)COVID-two rig workers were infected, but protocols in place to isolate and keep on with drilling. Good so far, but cautioned on.
13) Might move to two rig model in 2021 if justified; second rig available on Trinidad, may be more suitable for one or the other-but upshot was maybe do Royston and gas development simultaneously, using LOC for development work. Internal CF for exploration wells.