On Thursday, ValueTheMarkets hosted Touchstone Exploration’s (LSE:TXP) president and chief executive Paul Baay, chief operating officer James Shipka, and chief financial officer Scott Budau in a recorded presentation and Q&A session.
The team began by outlining their plans for the highly prospective Ortoire exploration block in Trinidad – where they have enjoyed huge amounts of success over the past year.
Throughout the presentation and subsequent investor Q&A session, Baay said Touchstone would next move on to drilling the Chinook well at Ortoire before heading on to drill a second, deeper exploration well on the block’s Cascadura field. By this point, the firm will have met its drilling commitments for 2020.
The company plans to drill its Royston location at Ortoire next year.
Elsewhere, Touchstone’s management revealed that the organization is completing further testing on its Cascadura-1ST1 well and discovery, and is also starting work on tying in its Coho-1 well so it can begin to generate revenues from gas sales.
Baay, Shipka, and Budau also provided an update on Touchstone’s recently-announced framework agreement with Trinidad and Tobago’s national gas company concerning the development, sale and purchase of natural gas and natural gas liquids produced from the Ortoire Block.
Finally, they reiterated the firm’s strong financial situation following the announcement of a US$20 million, seven-year term loan agreement with Republic Bank Limited towards the end of last month.
To view the presentation in full, please click below…
