Touchstone Exploration
Touchstone Exploration operates in the oil and natural gas exploration and production industry in Trinidad and Tobago, holding an 80% interest in the Ortoire exploration block. The company is committed to environmental stewardship and community engagement, and its shares are traded on the Toronto Stock Exchange and the AIM market of the London Stock Exchange under the symbol 'TXP'.
Company Overview
Touchstone Exploration operates in the oil and natural gas exploration and production industry in Trinidad and Tobago. It holds significant assets and interests, notably an 80% operated working interest in the Ortoire exploration block, which spans approximately 44,731 gross acres. The company is dedicated to rigorous exploration and production activities, fulfilling a six-year minimum work program for the Ortoire block, which includes technical reviews, a 2D seismic program, and a four-well drilling program. Touchstone Exploration is listed on the Toronto Stock Exchange and the AIM market of the London Stock Exchange under the symbol 'TXP'.
Ortoire Block Operations
Touchstone Exploration's Ortoire block operations form a critical part of its business strategy. The block covers roughly 44,731 gross acres and involves a long-term commitment to various exploratory activities. Among the identified locations are Coho, Cascadura, Chinook, and Royston, each with varying prospects. Coho-1 well shows potential for natural gas pay and proximity to a tie-in point for production. The Cascadura-1 well has revealed substantial hydrocarbon pay in the Cruse and Herrera formations. Chinook-1 well demonstrated significant natural gas pay and is undergoing an in-depth completion and testing process. The Royston prospect is a deep gas prospect targeting an estimated depth of 11,500 feet.
Commitment to Sustainability
Touchstone Exploration demonstrates a strong commitment to environmental stewardship and community engagement in Trinidad and Tobago. The company regularly publishes annual sustainability reports, highlighting its efforts in environmental and social governance. Touchstone also complies with the Extractive Sector Transparency Measures Act (ESTMA), releasing annual ESTMA reports. These documents provide transparency regarding the company's environmental and social impact, showcasing its dedication to responsible operations.
Acquisition of Trinity Exploration and Production
In a strategic move to enhance its asset and operational base, Touchstone Exploration acquired Trinity Exploration and Production PLC. This acquisition aligns with the company's expansion strategy, providing additional resources and capabilities. Through this acquisition, Touchstone aims to strengthen its position in the oil and natural gas exploration and production industry, particularly within the Trinidad and Tobago region.
