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Touchstone Exploration gearing up to spud first Ortoire well in June

Touchstone Exploration Inc's (LON:TXP, TSE:TXP) Paul Baay and James Shipka update Proactive London's Andrew Scott on their 2018 results as well as the year ahead's exploration and development plans.

Production for the 12-month period averaged a rate of 1,718 barrels of oil per day, up 25% from 1,375 bopd in 2017.

So far this year Touchstone's reported oil sales of 1,994 barrels of oil per day in January and an increase to 2,179 bopd in February.

The company's now looking at growth through exploration - namely the Ortoire Block, where they're looking to spud their first well in June this year.

Quick facts: Touchstone Exploration Inc

Price: 43.75 GBX

AIM:TXP
Market: AIM
Market Cap: £70.31 m
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Touchstone Exploration now has the 'certainty' to accelerate its Ortoire...

Touchstone Exploration Inc's (LON:TXP) (TSE:TXP) Paul Baay speaks to Proactive London's Andrew Scott after announcing they've raised US$11.6mln (£9mln) through a share placing. The new funds have been earmarked for the acceleration of its  exploration activities in the Ortoire block.

1 day, 22 hours ago

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