logo-loader
viewTouchstone Exploration Inc

Touchstone to target world class oil and gas reserves after fundraise

Paul Baay, CEO of Touchstone Exploration (LON:TXP) tells Proactive London that its £3.8mln fundraise had the backing of the company's two biggest institutional shareholders. 

The capital injection will fund exploration at the Ortoire Block in Trinidad.  Baay explains the programme is a potential step change and the company is targeting "very large gas reserves and very large oil reserves."

He added, “If we have a great deal of success, we could have a multi-year drilling programme and that’s a problem I’m happy to deal with down the road.”

Quick facts: Touchstone Exploration Inc

Price: 13.75 GBX

AIM:TXP
Market: AIM
Market Cap: £22.09 m
Follow

Add related topics to MyProactive

Create your account: sign up and get ahead on news and events

NO INVESTMENT ADVICE

The Company is a publisher. You understand and agree that no content published on the Site constitutes a recommendation that any particular security, portfolio of securities, transaction, or investment strategy is...

In exchange for publishing services rendered by the Company on behalf of Touchstone Exploration Inc named herein, including the promotion by the Company of Touchstone Exploration Inc in any Content on the Site, the...

FOR OUR FULL DISCLAIMER CLICK HERE

Watch

Full interview: Coho-1 well to double Touchstone Exploration's daily...

Touchstone Exploration Inc's (LON:TXP; TSE:TXP) Paul Baay speaks to Proactive London's Andrew Scott after announcing a higher-than-expected production rate from its Coho-1 well, onshore Trinidad. Output peaked at 19.8mln cubic feet (MMCFD) of sweet natural gas, the equivalent of 3,300...

3 weeks, 5 days ago

2 min read