Touchstone Exploration Announces Initial Production from Cascadura C
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CALGARY, AB / ACCESSWIRE / November 4, 2024 / Touchstone Exploration Inc. ("Touchstone", "we", "our" or the "Company") (TSX:TXP)(LSE:TXP) announces initial production from the Cascadura C well pad.
Touchstone has safely commissioned the flowline connecting our Cascadura C surface location to the Cascadura natural gas processing plant, which ties in our Cascadura-2ST1 and Cascadura-3ST1 wells. Additionally, a new natural gas separator has been installed and brought online, expanding the plant's gross natural gas processing capacity to approximately 140 million cubic feet per day.
We are currently conducting production testing operations on the Cascadura-2ST1 well and expect to advance to the Cascadura-3ST1 well thereafter. Isochronal tests will be performed on both wells to evaluate their production capacity and refine future production models. These tests involve flowing each well at various choke sizes to measure flow rates and pressures, followed by pressure buildup periods to assess reservoir performance. During this testing phase, all produced gas will be processed and sold. We expect to complete testing operations within the next two weeks, after which both the Cascadura-2ST1 and Cascadura-3ST1 wells will enter continuous production. Touchstone will provide additional flow rate details once testing concludes.
Paul R. Baay, President and Chief Executive Officer, commented:
"We are excited to announce the commencement of production from the Cascadura C pad, marking a significant milestone as tested volumes from these wells begin generating revenue. Following these well tests, our focus will be on determining optimal production levels to maximize recovery from this portion of the structure. Positioned at the boundary of our reserves booking, these wells offer an exciting opportunity to expand our reserves potential across the field as we continue to evaluate the Cascadura structure to the east.
With the recent flowline installation and facility expansions, we have established strategic infrastructure throughout the Cascadura field, creating efficiencies that are expected to greatly reduce future cycle times from drilling to production."
Touchstone Exploration Inc.
Touchstone Exploration Inc. is a Calgary, Alberta based company engaged in the business of acquiring interests in petroleum and natural gas rights and the exploration, development, production and sale of petroleum and natural gas. Touchstone is currently active in onshore properties located in the Republic of Trinidad and Tobago. The Company's common shares are traded on the Toronto Stock Exchange and the AIM market of the London Stock Exchange under the symbol "TXP". For further information about Touchstone, please visit our website at www.touchstoneexploration.com or contact:
Mr. Paul Baay, President and Chief Executive Officer
Mr. Brian Hollingshead, Executive Vice President Engineering and Business Development
Tel: +1 (403) 750-4405
Advisories
Working Interest
Touchstone has an 80 percent operating working interest in the Cascadura field, which is located on the Ortoire block onshore in the Republic of Trinidad and Tobago. Heritage Petroleum Company Limited holds the remaining 20 percent working interest.
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Decent increase in share price on London AIM market today with this news release.
Should be a steady flow of news and updates for the next few months.
GLTA ! |
