3rd Dec 2020 10:58
(Alliance News) - Touchstone Exploration Inc on Thursday announced it has completed drilling the Cascadura Deep-1 exploration well on the Ortoire exploration block in the Republic of Trinidad and Tobago.
Touchstone is an upstream oil and gas company currently active in the Republic of Trinidad and Tobago.
Touchstone said an aggregate 1,007 net feet of natural gas pay was identified in the overthrust sheets with and additional natural gas pay of approximately 308 net feet being encountered in two previously untested Herrera thrust sheets.
Chief Executive Paul Baay said: "I am pleased that the Ortoire block continues to outperform our expectations. The Cascadura Deep-1 well is the best well we have drilled on the Ortoire property to date and it has provided three key pieces of information, primarily that the Cascadura field has numerous targets with each one of the thrust sheets providing its own unique opportunity."
Touchstone shares were up 15% at 126.00 pence each in London on Thursday morning.
By Greg Roxburgh; [email protected]
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