Touchstone Exploration Inc (AIM:TXP, TSX:TXP, OTC:PBEGF) CEO Paul Baay takes Proactive's Stephen Gunnion through recent updates at the Cascadura C field and a new land package deal in Rio Claro, Trinidad. Baay emphasised that Touchstone's new drilling initiative, "drill to fill," marks the beginning of the push to utilise existing facilities fully. The two initial wells at Cascadura C pad are significant steps in developing the eastern edge of the Ortoire block, with testing directly linked to immediate revenue generation, thanks to integration with production lines.
Baay highlighted the strategic importance of the Rio Claro land acquisition, positioned adjacent to the Cascadura wells, as an expansion that supports long-term drilling and production. This addition allows Touchstone to extend the play, contributing both shallow and deeper drilling opportunities. According to Baay, these developments fit within Touchstone’s overall goal of resource optimization and increased output.
In terms of next steps, Baay pointed to two significant milestones: anticipated announcements of flow test results from the current wells by year-end, and the start of a sustained development drilling program at the Cascadura site. "The advantage now is we can drill both the Ortoire block and the Rio block," Baay shared, outlining the timeline for upcoming projects.