A live online investor presentation and Q&A session by President and CEO Paul Baay, of Touchstone Exploration, hosted by ValueTheMarkets.com on Tue, 8th October 2019.
Touchstone's president and chief executive Paul Baay provided a comprehensive update on the business's plans at its 80pc-owned Ortoire Block on the east side of Trinidad. Baay highlighted the company's drilling progress at the 35,786 acre asset, which includes the recent, successful COHO-1 well targeting a gas prospect called Corosan as well as a second well called Cascadura gunning for a much larger prospective oil resource.
Baay provided investors with an update on Touchstone's financials and its output on the west of Trinidad, where it was producing 1,829bopd in August following a successful drilling campaign throughout 2018.
During the presentation, Baay took questions from shareholders, many of whom focused on Touchstone's cashflow and Ortoire's long-term, massive potential. Touchstone believes that the block sits on under-explored turbidite deposits, which have been responsible for some of the world's largest oil and gas discoveries over the past 30 years. Likewise, a report by GLJ Petroleum Consultants in January reinforced this potential by assigning the block and its prospects transformational volumes of prospective oil and gas.