Touchstone Exploration is looking to secure more time on one of its key Trinidad assets, with the country’s energy ministry reviewing a request to extend the exploration licence for the Ortoire onshore block.
Ortoire sits at the centre of Touchstone’s Trinidad strategy. The company describes itself as the country’s leading onshore hydrocarbons producer and holds an 80% interest in the block, with Heritage Petroleum holding the remaining stake. Extending the exploration period would give Touchstone additional time to advance work across acreage that has already become important to its upstream portfolio.
The ministry’s review means the matter remains subject to government approval. That introduces a timing consideration for the market, as the company’s ability to proceed under a new exploration term depends on the regulatory outcome. At the same time, the fact that the request is under review keeps Ortoire visible as a near-term point of focus for Touchstone’s Trinidad operations.
Onshore assets can offer a different risk profile from offshore exploration, particularly where a company already has local operating experience, established relationships and a clearer understanding of subsurface targets. Touchstone’s 80% operating interest gives it meaningful exposure to any progress, while also leaving it responsible for execution and funding obligations linked to the block.
Touchstone Exploration Inc (LON:TXP) is a Canadian-based, international upstream oil and gas company currently active in the Republic of Trinidad and Tobago. Primera Oil and Gas is the Trinidadian subsidiary of Touchstone.
