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It is the latest positive result to come from the Ortoire block in Trinidad Touchstone Exploration Inc (LON:TXP) provided an update on the Cascadura Deep-1 well, in the Ortoire block in Trinidad, which has been boosted by new well pressure data. The company, in a statement, noted that pressure gauges were recovered from the well on May 17 and analysis of the data confirms Cascadura Deep as a significant ‘liquids rich’ discovery. Touchstone’s findings indicate a pool of “significant size and reserves potential”. Data from the pressure build-up test revealed that the formation was damaged to some extent during drilling, but the company said it is confident that the well will require no stimulation and that flow rates will be consistent with those during testing (which previously peaked at 4,567 barrels of oil equivalent per day). ....
Touchstone exploration: an onshore success story 14 Hrs Ago Touchstone’s discoveries, being onshore and close to existing NGC pipelines means that the development cost will be low and that the fields can be brought on production sooner than offshore gas fields. Photo courtesy the Geological Society of TT - GEOLOGICAL SOCIETY Touchstone’s share price was CAD$0.20 in January 2019; by January 2020 it had doubled to $0.40. But by January 2021, despite extenuating circumstances related to the covid19 pandemic, it was approximately CAD$2.50, over 12 times what it was worth two years prior. What caused this and why it is important to TT? In 2011, CL Financial sold its oil producing subsidiary, the Primera Group, to Canada’s Touchstone Exploration Inc for approximately US$50 million. At the time, Primera had 16 oil and gas properties across southern Trinidad. ....
Follow Jamie on: It was another active week in the junior oil and gas sector. Touchstone Exploration Inc (LON:TXP, TSE:TXP) confirmed its first-quarter results in-line with expectations as sales averaged 1,297 barrels per day and it advanced high-priority testing of wells in the Ortoire block. Bringing the more prolific Ortoire wells to production has been the company’s focus, as it positions itself as a natural gas producer. The wells were drilled in the fourth quarter of 2020 and in the first quarter of 2021 the company carried out production testing of the Chinook-1 and Cascadura Deep-1, along with preparations for new drilling. As announced recently, the Cascadura Deep well tested with a peak rate of 4,567 barrels oil equivalent per day. ....
Touchstone Exploration s first quarter in-line with expectations as Ortoire progress remains priority “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 Touchstone Exploration Inc (LON:TXP, TSE:TXP) confirmed its first-quarter results in-line with expectations as sales averaged 1,297 barrels per day and it advanced high-priority testing of wells in the Ortoire block. Bringing the more prolific Ortoire wells to production has been the company’s focus, as it positions itself as a natural gas producer. The wells were drilled in the fourth quarter of 2020 and in the first quarter of 2021 the company carried out production testing of the Chinook-1 and Cascadura Deep-1, along with preparations for new drilling. ....