Touchstone Exploration Inc NPV (DI) (TXP)

Sector:

Energy Producers

Index:

FTSE AIM All-Share

18.83p
   
  • Change Today:
      0.58p
  • 52 Week High: 38.00
  • 52 Week Low: 18.13
  • Currency: UK Pounds
  • Shares Issued: 311.46m
  • Volume: 107,605
  • Market Cap: £58.66m
  • Beta: 0.03

Touchstone Exploration positive on completion of Royston-1

By Josh White

Date: Friday 24 Sep 2021

LONDON (ShareCast) - (Sharecast News) - Touchstone Exploration has completed drilling the Royston-1 exploration well, it said on Friday, announcing that it encountered "substantial" hydrocarbon accumulations based on drilling and wireline log data.
The AIM-traded firm has an 80% operating working interest in the well, located on the Ortoire block onshore in Trinidad and Tobago, with Heritage Petroleum Company holding the remaining 20% working interest.

It said Royston-1 was drilled to a total depth of 10,700 feet, being the deepest exploration well drilled by Touchstone to date.

Mud logging and wireline logs indicated hydrocarbon accumulations in the Lower Cruse, Karamat and Herrera sections.

The company said the well encountered a total Herrera turbidite thickness of 1,014 feet, or 609 feet net sand, in two stacked thrust sheets.

An aggregate 393 gross feet of hydrocarbon pay was identified in two unique thrust sheets in the Herrera sands from 9,700 feet to total depth, with wireline logs indicating that the well was in hydrocarbon pay at total depth.

The well was currently being cased, and prepared for production testing of the Herrera Formation.

"The Royston-1 well was the fifth and final well of the first phase of our exploration drilling program on the Ortoire block, with logging data indicating better than expected results," said company president and chief executive officer Paul Baay.

"The amount of identified hydrocarbon pay further verifies the opportunity in the block for our future phase two exploration program. Prior to drilling, we targeted 200 feet of gross sand pay, with results almost doubling our expectations."

Baay said the company had started planning production testing operations in the Herrera Formation using the same equipment that verified the Cascadura discovery.

"With the assistance of the new seismic and upcoming production testing data, we anticipate this to be the largest geological structure identified on the block in the Herrera Formation."

At 1213 BST, shares in Touchstone Exploration were up 27.71% at 107.28p.

Email this article to a friend

or share it with one of these popular networks:


Note 1: Prices and trades are provided by Digital Look Corporate Solutions and are delayed by at least 15 minutes.

 

TXP Market Data

Currency UK Pounds
Share Price 18.83p
Change Today 0.58p
% Change 3.20 %
52 Week High 38.00
52 Week Low 18.13
Volume 107,605
Shares Issued 311.46m
Market Cap £58.66m
Beta 0.03

TXP Star Ratings

Compare performance with the sector and the market.
more star ratings
Key: vs Market vs Sector
Value
83.81% below the market average83.81% below the market average83.81% below the market average83.81% below the market average83.81% below the market average
94.37% below the sector average94.37% below the sector average94.37% below the sector average94.37% below the sector average94.37% below the sector average
Price Trend
82.89% below the market average82.89% below the market average82.89% below the market average82.89% below the market average82.89% below the market average
53.42% below the sector average53.42% below the sector average53.42% below the sector average53.42% below the sector average53.42% below the sector average
Income Not Available
Growth
15.95% above the market average15.95% above the market average15.95% above the market average15.95% above the market average15.95% above the market average
4.35% above the sector average4.35% above the sector average4.35% above the sector average4.35% above the sector average4.35% above the sector average

What The Brokers Say

Strong Buy 0
Buy 1
Neutral 0
Sell 0
Strong Sell 0
Total 1
buy
Broker recommendations should not be taken as investment advice, and are provided by the authorised brokers listed on this page.

TXP Dividends

No dividends found

Trades for 03-Jun-2025

Time Volume / Share Price
09:12 55,000 @ 18.50p
08:49 7,500 @ 18.95p
08:46 105 @ 18.99p
08:00 15,000 @ 18.63p
08:00 20,000 @ 18.63p

Top of Page