RE:New Press Release - Touchstone Announces Third Quarter 2023 Financial and Operating Results and Provides an Operational UpdateThe cash is finally piling up and it seems like the company will move in to a new era with more developments.
First out is Royston.
"Touchstone has designed a work program for the Royston-1X well that will isolate and evaluate the two uppermost zones in the wellbore and expects to commence testing prior to the end of the year." "The fourth production test evaluated the overthrust sheet in the upper Herrera X Formation at depths between 9,591 and 9,662 feet. 38.1 degree API gravity oil was encountered, with a maximum shut-in pressure of 2,438 psi.
The final production test targeted the Karamat Formation at depths between 9,318 and 9,346 feet. Once again, light, sweet oil was recovered with a maximum shut-in pressure observed at surface of 2,230 psi."