Touchstone Secures Rio Claro Licence for Exploration in Trinidad

Touchstone Exploration Inc. has announced the successful execution of an Exploration and Production licence for the Rio Claro block in Trinidad. This agreement, signed on November 4, 2024, involves Touchstone's subsidiary Primera Oil and Gas Limited and the Government of Trinidad and Tobago, along with other entities. Touchstone holds an 80% operating interest, while the National Gas Company of Trinidad and Tobago retains 20%.

The Rio Claro Licence shares proximity with Touchstone's Ortoire block, enhancing the company's strategic focus on the promising Herrera Formation. The seismic data suggests potential extensions of the Cascadura discovery into Rio Claro, presenting new opportunities for resource integration into Touchstone's existing infrastructure.

Paul R Baay, CEO, sees significant potential in this licence, highlighting plans to drill the first well from the Cascadura site. The acquisition also grants Touchstone control over the Kraken Cretaceous prospect, strengthening its exploration prospects in the region.