Touchstone Exploration Announces Operational Progress in Trinidad

Touchstone Exploration Inc., a Calgary-based oil and natural gas company, has shared an update on its operations, highlighting the drilling of the Cascadura-3ST1 and CO-374 wells in Trinidad and Tobago. The Cascadura-3ST1 delineation well, reaching a depth of 8,252 feet, showed promising signs with a total sand thickness of around 900 feet in the Herrera Formation. This well is now prepared for production testing into the existing Cascadura natural gas facility in the third quarter of 2024.

In parallel, the construction of a flowline to connect this new well to the gas processing facility is underway, with an expected completion around the same time. The facility itself is set to expand, with procurement for the expansion already started. Turning to the CO-374 development well, it achieved a depth of 5,684 feet, revealing significant hydrocarbon presence in both the Forest and Cruse Formations, and is now cased for future crude oil production. Not to be overlooked, the CO-375 well, aiming for a 6,500 feet depth, has also commenced drilling.

The company reported an average net sales volume of 7,015 barrels of oil equivalent per day (boe/d) for the first quarter of 2024, with significant contributions from the Cascadura field. Touchstone's CEO, Paul Baay, expressed satisfaction with the drilling results, highlighting the potential of their assets and the company's ongoing efforts to optimize production.