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  2. Share Prices
  3. Touchstone Exploration Share Price
  4. Touchstone Exploration Share News
  5. Touchstone Lauds Cascadura Project's "Tremendous Potential"

Pin to quick picksTouchstone Exploration Share News (TXP)

Touchstone Exploration Information

Share Price Information for Touchstone Exploration (TXP)

London Stock Exchange
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Share Price: 38.75
Bid: 38.50
Ask: 39.00
Change: -0.05 (-0.13%)
Spread: 0.50 (1.299%)
Open: 38.75
High: 38.75
Low: 38.75
Prev. Close: 38.80
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Touchstone Lauds Cascadura Project's "Tremendous Potential"

Mon, 20th Jul 2020 15:20

(Alliance News) - Touchstone Exploration Inc shares climbed on Monday, after it reported a promising reserves estimate at its Cascadura project area located in Trinidad & Tobago.

Touchstone was trading 12% higher at 63.00 pence in London on Monday afternoon.

The best estimate for gross discovered petroleum at the asset is 398.5 billion cubic feet, with a high estimate at 571.5 billion cubic feet and a low estimate at 241.2 billion cubic feet.

The reserves evaluation was conducted independently by Canada-based GLJ Ltd.

"GLJ's independent evaluation of the Cascadura-1ST1 production test results and the subsequent reserves evaluation of the Cascadura Assessment Area confirms the tremendous potential of the Ortoire exploration block," Touchstone Chief Operating Officer James Shipka said.

"The team is currently working hard to design the facilities and infrastructure required to bring the Cascadura gas and liquids to market as quickly as possible."

By Eric Cunha; ericcunha@alliancenews.com

Copyright 2020 Alliance News Limited. All Rights Reserved.

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IN BRIEF: Touchstone hails successful results from Trinidad well drill

Touchstone Exploration Inc - Canadian-based oil and gas exploration company - Says the Cascadura-2 delineation well in Trinidad and Tobago was drilled to a total depth of 8,252 feet, with open hole logs and drilling data indicating a total sand thickness of approximately 900 feet in the targeted Herrera formation. Says that the Cascadura-3ST1 well has been cased, and production testing is scheduled to start in the third quarter of 2024 directly into the Cascadura natural gas facility. Chief Executive Officer Paul Baay said: "We are pleased with the successful results from the two delineation wells at Cascadura, with both wells demonstrating the quality and scale of the structure. In addition, the Cascadura-3ST1 well is the first to cross the C-fault to the east side of the structure, an area where reserves have not been previously assigned. The CO-374 development well is also noteworthy, as it has the highest net pay we have observed to date on our crude oil legacy blocks."

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