Touchstone Exploration Inc. (LSE:TXP) provided an operational update on its Ortoire block activities, reporting that the Cascadura-4ST2X well encountered gas-charged sands, prompting an early halt to drilling. Despite this, the company plans to complete the well for production and has commenced completion operations on the Cascadura-5 well.
In addition, Touchstone has agreed to divest its non-core Fyzabad oil property, with proceeds earmarked for drilling three new wells in its WD-8 and WD-4 blocks. This move reflects a strategic focus on scaling high-potential assets while optimizing its portfolio.
About Touchstone Exploration
Touchstone Exploration is a Calgary-based oil and gas company engaged in acquiring, developing, and producing petroleum and natural gas. The company’s operations are primarily onshore in Trinidad and Tobago, with shares listed on the Toronto Stock Exchange and the AIM market of the London Stock Exchange under the symbol TXP.
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