Touchstone Exploration Inc. (LON:TXP) has provided an operational update on the Cascadura-5 development well, located on the Ortoire block onshore in the Republic of Trinidad and Tobago. Touchstone has an 80 percent operating working interest in the well, with Heritage Petroleum Company Limited holding the remaining 20 percent.
The Cas-5 well was spud on June 4, 2025, using Star Valley Drilling Rig #205 and was drilled to a total depth of 7,020 feet over 22 days. Following open-hole logging operations, the well was cased for future production.
The primary target of the Cas-5 well was the Herrera Gr7bc sands, which are prevalent in the Cascadura structure. Cas-5 is the second well drilled into the B block of the Cascadura structure and encountered approximately 620 feet of gross sand. The targeted reservoir intervals were observed approximately 300 feet updip of the Cascadura-2 well, which was drilled in the first quarter of 2024.
The original planned total depth of the well was 6,654 feet. Based on encouraging drill cuttings and mud logging data indicating continued hydrocarbon presence, drilling was extended to 7,020 feet. Wireline logging, mud logging, and drill cuttings data collectively suggest that hydrocarbon-bearing sands are present throughout the primary Gr7bc interval.
When funding is available, the drilling rig is expected to be mobilized to complete operations at the nearby Cascadura-4 well, which is currently cased to a depth of 3,200 feet. Cas-4 is also targeting the Herrera sands, with a planned total depth of approximately 6,500 feet.
Upon drilling Cas-4, the Company intends to complete and tie-in Cas-4 and Cas-5 into the Cascadura natural gas facility. All required tie-in equipment is currently on location.
Paul R. Baay, Touchstone Exploration President and Chief Executive Officer, commented:
“Cas-5 was drilled on schedule and on budget, with field-estimated costs of approximately US$5 million, despite extending the target depth. The performance of our new drilling team, along with the use of synthetic oil-based mud and managed pressure drilling, was instrumental in delivering a successful operation. We encountered no material issues during drilling, which we attribute to improvements implemented following previous challenges. The hydrocarbon intervals observed align with or exceed our pre-drill expectations and continue to enhance our understanding of the Cascadura structure as we integrate ongoing seismic interpretation.“
Placing update
The Company continues to evaluate its options regarding the unfunded placing commitments and will issue a further announcement as soon as practicable.
