Company
LON:TXP
Touchstone Exploration Inc is a Calgary, Alberta 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. The company is currently active in onshore properties located in the Republic of Trinidad and Tobago.
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“With the recovery of world oil prices, we are focusing on optimizing these mature assets through well recompletion and workover operations," said chief executive Paul Baay
It is the latest positive result to come from the Ortoire block in Trinidad
It was another active week in the junior oil and gas sector.
“Our priority is to bring our Coho and two Cascadura wells onto production as soon as possible while also drilling Royston-1," said chief executive Paul Baay
"The positive test results from Cascadura Deep-1 further expands the opportunity on the Ortoire block," said Paul Baay.
"This light oil discovery on the Ortoire property provides another level of opportunity for the company and is in line with our original Chinook exploration model which indicated the target was oil charged,” said chief executive Paul Baay
"The company is very well positioned for another year of growth as we move forward with our exploration, development and production program at Ortoire and across the wider portfolio," said Paul Baay
Production testing programme at Chinook-1 well confirms presence of hydrocarbons
The oil and gas group has extended the LOAs with Heritage Petroleum to March 31, 2021, from their previous expiration date of December 31, 2020
Here are some of the wells to watch out for in the coming year
"This agreement provides a stable, multi-decade revenue stream for Touchstone to fully develop the world-class asset at Ortoire,” said chief executive Paul Baay
NGC agreement provides a stable, multi-decade revenue stream for Touchstone to fully develop the field at Ortoire said SP Angel
“The Cascadura Deep-1 well is the best well we have drilled on the Ortoire property to date,” said chief executive Paul Baay
"The board's focus remains on our Ortoire property where exploration activities to date have significantly exceeded expectations,” said chief executive Paul Baay
It was another eventful week in the small-cap oil and gas sector.
“We are delighted by the support we have received from new and existing investors," said chief executive Paul Baay
The oil and gas firm said that as a result of the advancement of Cascadura, it is designing a program to commence testing of its Chinook-1 well before the end of 2020
Stockbroker Shore Capital reckons Touchstone offers an excellent opportunity.
Archive
A glance at some of the day's highlights from the Proactive Investors newswire
Chief executive Paul Baay pointed out that Chinook-1 has exceeded the company's pre-drill expectations
