Touchstone Exploration update on Cascadura and Royston

Touchstone Exploration
[shareaholic app="share_buttons" id_name="post_below_content"]

Touchstone Exploration Inc. (TSX, LON:TXP) provides an update on the construction of the Cascadura facility and Royston-1X production testing, ahead of our Annual General Meeting which will be held today at 10:30 a.m. (MDT). Touchstone has an 80 percent operating working interest in the Cascadura field and the Royston-1X well, which are located on the Ortoire block onshore in the Republic of Trinidad and Tobago. Heritage Petroleum Company Limited holds the remaining 20 percent working interest.

Cascadura

Construction of the Cascadura natural gas and liquids facility is progressing. We are currently undertaking pre-commissioning of the facility, which consists of testing all electronics, alarms, operating systems, flare and emergency shutdown systems, as well as purging air from the system using inert nitrogen gas. In parallel with these operations, on or about July 8, 2023, we will remove the downhole safety plugs from the Cascadura-1ST1 and Cascadura Deep-1 wells and commence facility commissioning operations.

Royston

We have completed the second production test of the Royston-1X well, which included three zones targeting a gross interval of 80 feet in the middle portion of the subthrust sheet of the Herrera Formation at depths between 10,604 and 11,020 feet. Each zone produced light crude oil, with wellhead shut in pressure up to 2,450 pounds per square inch. Production flowed to the surface at non-commercial rates. This section of the formation appears to be a low permeability reservoir, and further testing will not be conducted. The next well test will target a gross interval of 106 feet within the intermediate sheet, which is the primary target of the well.

Virtual Webinar Event

President and Chief Executive Officer, Paul Baay, will be presenting at the Shares / AJ Bell investor webinar on Wednesday, July 5, 2023 at 18:00 p.m. (BST). Following the presentations there will be a live question and answer session. Existing shareholders and potential investors can register to join the event for free via the following link: https://www.sharesmagazine.co.uk/events/event/shares-investor-webinar-0507.

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. Touchstone is currently active in onshore properties located in the Republic of Trinidad and Tobago. The Company’s common shares are traded on the Toronto Stock Exchange and the AIM market of the London Stock Exchange under the symbol “TXP”.

We’ll keep you in the loop!

Join 1,000's of investors who read our articles first

We don’t spam! Read our privacy policy for more info.

Twitter
LinkedIn
Facebook
Email
Reddit
Telegram
WhatsApp
Pocket
Find more news, interviews, share price & company profile here for:
Touchstone Exploration CEO Paul Baay reveals promising Cascadura field developments in Trinidad, discussing oil and gas discoveries and future plans.
Touchstone Exploration Inc (LON:TXP) has completed successful well testing in their Cascadura field, revealing significant natural gas and oil outputs.
Touchstone Exploration Inc secures an 80% interest in Trinidad's Rio Claro block, enhancing its exploration potential in the Herrera Formation fairway.
Touchstone Exploration Inc (LON:TSP) starts production at Cascadura C, enhancing gas capacity and boosting revenue with strategic infrastructure upgrades.
Touchstone Exploration Inc (LTSX, LSE: TXP) delivers a pivotal update, including breakthroughs in the Cascadura C wells, infrastructure advancements, and production surges at Balata East.
Touchstone Exploration Inc (LON:TXP) reports strong financial and production performance for the first half of 2024, highlighting significant growth and strategic adjustments.

Search

Search