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Touchstone Exploration Inc. Announces Royston-1X Reaches Total Depth
CALGARY, AB / ACCESSWIRE / March 2, 2023 / Touchstone Exploration Inc. ("Touchstone", "we", "our...
About this update from Touchstone Exploration Inc
[{"type":"text","content":"Touchstone Exploration Inc. Announces Royston-1X Reaches Total DepthCALGARY, AB / ACCESSWIRE / March 2, 2023 / Touchstone Exploration Inc. (\"Touchstone\", \"we\", \"our\", \"us\" or the \"Company\") (TSX:TXP)(LSE:TXP) reports that the Company has completed drilling the Royston-1X exploration well and is pleased to announce that the well encountered substantial sands in the targeted Herrera Formation. Touchstone has an 80 percent operating working interest in the well, which is located on the Ortoire block onshore in the Republic of Trinidad and Tobago. Heritage Petroleum Company Limited (\"Heritage\") holds the remaining 20 percent working interest.Highlights•Royston-1X was drilled to a total depth of 11,316 feet and is the deepest exploration well drilled by Touchstone.•Exceeding pre-drill expectations, the well encountered an encouraging total Herrera turbidite thickness of 1,664 feet with an estimated 765 feet of net sand penetrated.•Mud logging and wireline logs indicate hydrocarbon accumulations in the targeted Herrera sections.•Drilling operations took approximately 25 days which was ahead of schedule and on budget.•The well is currently being cased and prepared for production testing.Paul Baay, President and Chief Executive Officer, commented:\"We are encouraged by the Royston-1X drilling results yet remain cautiously optimistic until production testing is completed. Not only is this the deepest well we have drilled to date but it also is the deepest well drilled onshore Trinidad in the last 15 years. The fact that the well was drilled ahead of schedule and within our budget can be attributed to the best-in-class industry standards that Touchstone is driving within Trinidad, both through the introduction of new equipment, as well as additional expertise that we have added to our technical team.We are encouraged by the hydrocarbon indications internally interpreted from openhole wireline logs, which show that the well successfully intersected the Herrera Formation through the subthrust level in one of the thickest turbidite sections observed in any of our previous wells. Once the drilling pad is completed at our Cascadura C location, the drilling rig will be moved off the Royston location, and we will commence a comprehensive testing program that is currently anticipated to begin in Apri...