Proactive weekly oil & gas highlights: Touchstone Exploration, Tower Resources, Deltic Energy, Westmount Energy, i3 Energy, DGOC ...
It was an interesting week in the small-cap oil and gas sector.
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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It was an interesting week in the small-cap oil and gas sector.
Flat this morning, crude oil will likely to be the same for the week, one which has seen interesting inventory draws and better economic stats than might have been expected. US leaders have set the pattern usually followed by the political
The broker has a target price of 91p on the Trinidad-focused oiler
"The spudding of the Chinook well marks the next phase of our Ortoire block exploration program," said chief executive Paul Baay
It was a fairly busy week in the small-cap oil and gas sector with a sprinkling of deals and fundings.
“We could not have envisioned a better start from the first two wells of the Ortoire exploration programme," said chief executive Paul Baay
House broker Shore Capital had positive comments following this morning's latest well results out of Trinidad.
Archive
A glance at some of the day's highlights from the Proactive Investors newswire
"We are extremely pleased with the final testing data," said chief operating officer James Shipka
"We are pleased to be able to source local financing from Republic Bank, the largest lender in Trinidad and the Caribbean,” said CFO Scott Budau
Base production and netbacks from existing production are resilient, said Shore.
Crude production continues and the Ortoire block's 'first gas' is slated for later this year
It follows the successes at the Coho and Cascadura discovery wells
Chinook would be the latest of three new wells that promise to significantly boost production
It was another busy week for the small-cap oil and gas sector
Two tests have yielded aggregate flow rates above 10,000 boepd and the company is now working to bring the well to production as soon as possible
It was another busy week of updates in the junior oil and gas sector
Touchstone on Friday upgraded reserves and said new testing was slated at Cascadura this weekend.
September's expectation beating Coho discovery in the Ortoire block was followed by a potentially more significant find in December's Cascadura well.
It was a busy week of project updates and a number of funding deals.