Investor deep dive
Touchstone Exploration prepares to spud at Ortoire block, production jumps in first quarter
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