Touchstone Exploration Inc. (LON:TXP) CEO Paul Baay joins DirectorsTalk to discuss the spudding of the Cascadura Deep-1 exploration well on the Ortoire onshore exploration block and operational update. Paul talks us through the announcement, how with spudding being ahead of schedule it affects plans, the 9 month extension and what shareholders can expect over the next few months.
Touchstone Exploration Inc. is a Canadian-based, international upstream oil and gas company currently active in the Republic of Trinidad and Tobago. It is one of the largest independent onshore oil producers in Trinidad, with an experienced management and executive team that have a track record of delivering value to shareholders.
The Company’s strategy is to leverage the Board’s extensive oil recovery experience and capability to develop international onshore properties that create shareholder value.
In Trinidad, the Company’s interests in approximately 90,000 gross acres of exploration and development rights make it one of the largest independent onshore oil producers in Trinidad. Touchstone holds over 8,700 working interest acres of onshore producing properties that have known crude oil reserves as well as over 55,000 exploration and undeveloped working interest acres that are being evaluated.
Outside of its core Trinidad portfolio the Board continues to examine opportunities in jurisdictions that have stable political and fiscal regimes coupled with large defined original oil in place.