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Touchstone Exploration Inc T.TXP

Alternate Symbol(s):  PBEGF

Touchstone Exploration Inc. is a Canada-based company engaged in the business of acquiring interests in petroleum and natural gas rights and the exploration, development, production and sale of petroleum and natural gas. The Company is active in onshore properties located in the Republic of Trinidad and Tobago. It operates Trinidad-based upstream petroleum and natural gas activities under state exploration and production licenses with the Trinidad and Tobago Ministry of Energy and Energy Industries (MEEI), Lease Operatorship Agreements (LOAs) with Heritage Petroleum Company Limited and private subsurface and surface leases with individual landowners. Its main exploration focus is the Ortoire exploration block. The Ortoire exploration block covers about 44,731 gross acres on the east side of Trinidad. Its other exploration prospects include Royston, Coho, Cascadura, and Chinook. The Royston location is targeting a deep gas prospect with an estimated target depth of about 11,500 feet.


TSX:TXP - Post by User

Post by Proseleneson Feb 02, 2021 11:25pm
340 Views
Post# 32455273

Interview with Paul in the papers....

Interview with Paul in the papers....
A good interview with Paul.

Extracts below with my comments....for the full interview click the link.....

https://trinidadexpress.com/business/local/touchstone-celebrating-oil-and-gas-milestones/article_ab46b658-65b1-11eb-baa7-07ee2b415b65.html


Coho-1 online in April.

Definitely looks like oil drilling in the SouthWest (waiting on new 10 year agreements to be signed off) with 5 to 10 oil wells drilled in 2021 from an inventory of 200.  Oil breaks even at 28$ and any oil wells make a lot of money. In terms of the benchmark with Brent crude the Canadian firm produce, he explained that the company sells it to Heritage Petroleum and then they pay them every month, which works out to be 12 to 13 per cent discount to Brent.

Casca on line Q4 2021.

Baay said within the Ortoire Block, the Coho-1 exploration well was spud on August 7, 2019, and is expected to come on stream in April this year with about 10 million cubic feet a day of natural gas. And in the fourth quarter of 2021, the Cascadura-1 well will come on stream with 100 million cubic feet a day of natural gas and 2,000 barrels a day of oil.

“Assuming there is more success in the block, and a couple more exploratory wells that we have to drill, the company can see themselves over the next 24 months adding over 200 million cubic feet a day and somewhere around 4,000 barrels a day of oil.”

Baay said in his 30 years’ experience in the oil and gas sector the Ortoire block has surpassed his expectations, as the trajectory from 10 million to 200 million cubic feet a day is the advantage of drilling onshore, which means it can come on stream more quickly.
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