Touchstone Exploration Inc (2) (TSX:TXP)
Shares Issued 233,427,560
Last Close 9/15/2023 $1.16
Monday September 18 2023 - News Release
Mr. Paul Baay reports
TOUCHSTONE PROVIDES CASCADURA PRODUCTION UPDATE
Touchstone Exploration Inc. has provided an update regarding natural gas and liquids production volumes from the recently commissioned Cascadura facility. Touchstone has an 80-per-cent operating working interest in the Cascadura field, which is located on the Ortoire block onshore in the Republic of Trinidad and Tobago. Heritage Petroleum Company Ltd. holds the remaining 20-per-cent working interest.
Touchstone achieved its forecasted Cascadura gross natural gas production rate of 60 million cubic feet per day on Sept. 15, 2023. The Cascadura-1ST1 well is currently contributing approximately 40 million cubic feet per day while the Cascadura Deep-1 well is contributing approximately 20 million cubic feet per day of gross natural gas volumes. In addition, the wells are currently producing an aggregate 1,400 barrels per day of field estimated gross natural gas liquids volumes.
Paul Baay, president and chief executive officer, commented: "I am very pleased that we have reached our gross target rate of 60 million cubic feet per day at Cascadura after our first week of operations. The performance of the wells, both of which are being choked at surface, is in line with expectations and the surface facility is currently operating at approximately 67 per cent of its capacity."
About Touchstone Exploration Inc.
Touchstone Exploration is a company based in Calgary, Alta., 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. Touchstone is currently active in onshore properties located in the Republic of Trinidad and Tobago. The company's common shares are traded on the Toronto Stock Exchange and the AIM (Alternative Investment Market) of the London Stock Exchange under the symbol TXP.
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