Touchstone Exploration Announces Progress in Cascadura Project

Touchstone Exploration Inc. (TSX:TXP)(LSE:TXP) provided an update on its operations, particularly focusing on the Cascadura natural gas facility. The facility's expansion and the construction of the flowline from Cascadura C to the facility are moving as scheduled, targeting initial production from the Cascadura-2ST1 and -3ST1 wells by the end of September 2024.

In Q2 2024, the company reported average net sales volumes of 5,432 boe/d. Current production averages approximately 5,711 boe/d, with the Cascadura-1ST1 and Cascadura Deep-1 wells generating about 4,082 boe/d.

Touchstone also highlighted the performance of the two CO-1 development wells that began production on May 27, 2024. Together, these wells currently produce around 212 bbls/d.

Significant progress has been made on the infrastructure linking Cascadura C with the natural gas facility, including the near-completion of critical road and bridge constructions and the advancing flowline construction. The additional natural gas separator and wellhead tie-in piping are also being prepared for installation.