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Touchstone Exploration inks agreement for gas sales from the Ortoire block, onshore Trinidad

It follows the successes at the Coho and Cascadura discovery wells

Touchstone Exploration Inc - Touchstone Exploration inks agreement for Ortoire block gas sales

Touchstone Exploration Inc (LON:TXP) (TSE:TXP) announced, in a statement after Monday’s close, that it has signed a framework agreement for the sale of natural gas and gas liquids produced from the Ortoire block, onshore Trinidad.

The agreement is signed with the National Gas Company of Trinidad and Tobago and Heritage Petroleum Company.

READ: Touchstone plans to press ahead with Chinook well

Touchstone has so far enjoyed success in its first two wells at Ortoire with the Coho and Cascadura discovery wells exceeding expectations. It intends to drill the third target, Chinook, in due course.

The Ortoire assets are expected to significantly boost production volumes as they as matured.

In March, with its financial results statement, Touchstone noted that it had immediately responded to the significant global economic uncertainty created by the coronavirus (COVID-19) pandemic and the unprecedented decline in crude oil prices.

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Price: 50 GBX

AIM:TXP
Market: AIM
Market Cap: £91.74 m
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