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Touchstone Exploration Inc

Touchstone to target world class oil and gas reserves after fundraise

Paul Baay, CEO of Touchstone Exploration (LON:TXP) tells Proactive London that its £3.8mln fundraise had the backing of the company's two biggest institutional shareholders. 

The capital injection will fund exploration at the Ortoire Block in Trinidad.  Baay explains the programme is a potential step change and the company is targeting "very large gas reserves and very large oil reserves."

He added, “If we have a great deal of success, we could have a multi-year drilling programme and that’s a problem I’m happy to deal with down the road.”

Quick facts: Touchstone Exploration Inc

Price: £0.14

Market: AIM
Market Cap: £22.9 m
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Touchstone declare 'solid quarter production' in Q3 results.

Trinidad-focused Touchstone Exploration  (LON:TXP, TSE:TXP) tell Proactive London investors that Q3 results are impressive with strong cashflow and good production in the field backing it up. Crude oil production averaged 1,758 barrels per day in the third quarter as the group's...

on 15/11/18

2 min read