has the neighbouring operator just made a significant discovery?1 Aug 2019 15:01
"Touchstone Exploration – has the neighbouring operator just made a significant discovery? (TXP)"
"Written by Kevin Ramnarine, a former Minister of Energy and Energy Affairs, the article describes, “why natural gas exploration matters” to Trinidad and Tobago. This is a useful overview to anyone interested in Touchstone, with the company set to embark on a three well exploration campaign across its onshore Ortoire Block in that country. Two of the three wells, COHO-1 and the deeper ROYSTON-1, are targeting gas prospects, so the general relevance of the piece is obvious.
However, one paragraph in the article really stands out.
“Arising out of contracts signed for the 2014 land-based bid round, locally owned and operated company Lease Operators Ltd (LOL) has been conducting exploration drilling in the Rio Claro area in recent months. The understanding is the results for one exploration well are positive. This augurs well for land-based oil production and if successful will lead to an uptick in development drilling in the south east part of Trinidad. From the same group of 2014 contracts, there will soon be exploration drilling in the Ortoire area by Touchstone. Should LOL and Touchstone be successful in South East Trinidad, and I have every reason to believe they will be, they could add new oil production to the country’s declining output.”
I’ve emboldened the key points.... "
More on link here...
https://www.valuethemarkets.com/2019/08/01/touchstone-exploration-has-the-neighbouring-operator-just-made-a-significant-discovery-txp/
Thanks to Ben Turney
@Ben_Turney