Touchstone Exploration on a drilling roll at Ortoire project

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(, , , ) reported an increase in production from its base assets in Trinidad as it continued to work towards a four-well development programme in the fourth quarter of the year.

The group carried out a US$6.66mln exploration programme during the three months ended 30 June, primarily focused on well production testing at Cascadura Deep-1 and Chinook-1, together with various preparations for first drilling at the much-anticipated Royston prospect, including seismic shooting and pipeline installation.

Royston-1, the final minimum exploration commitment well at the Ortoire block, was spudded post-period, on August 12.

“The positive cashflow derived from our base assets and our strong liquidity position have allowed us to advance our exploration operations while we work towards initial natural gas production at our Coho and Cascadura discoveries,” said president and chief executive Paul Baay.

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