Touchstone Exploration Inc. (LON:TXP) CEO Paul Baay joins DirectorsTalk to discuss the completion of drilling the Chinook-1 exploration well on the Ortoire exploration block. Paul talks us through a significant natural gas discovery at Chinook, explains what this find means for the wider Trinidad stakeholders, what happens next, when investors can expect any further information on the contents of the well and other news investors can expect in the coming months.
Questions we asked Paul were:
- Can you talk us through what looks like an excellent announcement for Touchstone this morning with a significant natural gas discovery at Chinook?
- What does this find mean for your wider Trinidad stakeholders?
- What happens next at Chinook and when can investors expect any further information on the contents of the well?
- What other newsflow can we expect in the coming months from Touchstone?
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.