The Cascadura gas development in Trinidad & Tobago ‘is the de facto step-change in expected earnings power’ for Touchstone Exploration Inc (AIM:TXP, TSX:TXP, OTC:PBEGF).
That, at least, is the conclusion of the London arm of US investment bank Stifel.
Its analysts provided a brief assessment of prospects after the company on Monday filed for environmental sign-off for the onshore development.
Stifel is expecting the two wells from Cascadura to add 37.5mln cubic feet each of gas (plus liquids) to Touchstone’s daily production profile.
It currently isn’t changing its financial projections until the work is signed off – which should occur before September 15.