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TXP

Touchstone Exploration Inc.

Touchstone has been producing oil in Trinidad since 2010 and is now one of the largest onshore independent oil producers in the country. The Company holds interests on producing and exploration properties in southern Trinidad.

The Company’s core focus is on developing production on its four onshore lease operatorship properties (Coora Block 1 & 2, WD-4 & WD-8) and its Fyzabad onshore property. The Company also has interests in a number of small undeveloped exploration properties and two larger exploration blocks. In 2019, the company plans to start a drilling campaign on one of the larger exploration blocks called the Ortoire Block.

The company has identified three targets located on Ortoire which it is looking to drill this year. The first target is Corosan, a natural gas prospect located just north of Shell’s Carapal Ridge discovery, which is scheduled to be drilled in June. Corosan could contain up to 50 billion cubic feet (Bcf) of gas which could effectively double the company’s current production. The second prospect is called Balata West, which Touchstone believes could support 30-40 wells producing 3,000-4,000bopd. However, the third prospect, called the Central Prospect, could well be the most prospective of all the Ortoire targets.

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