Touchstone Enters Natural Gas Sales Deal With NGC

(Touchstone, 18.Dec.2020) — Touchstone Exploration Inc. executed a long-term natural gas sales agreement with the National Gas Company of Trinidad and Tobago Limited (NGC) for all future natural gas production from the Ortoire block (Touchstone 80% working interest operator, Heritage Petroleum Company Limited 20% working interest).

Operational Update

Touchstone has mobilized a service rig to the Chinook-1 location to perform a comprehensive completion and production testing program. The Company expects to perform three production tests to evaluate reservoir pressures and hydrocarbon deliverability of the Herrera sands observed while drilling and defined by open hole wireline logs. The first test will evaluate the previously untested subthrust Herrera sands, while the other tests are expected to investigate the potential of the intermediate and overthrust Herrera sand intervals. We anticipate final results from the Chinnok-1 production testing program in the first quarter of 2021.

Following testing at Chinook-1, the service rig is expected to immediately move to the Cascadura Deep-1 location. The Cascadura Deep-1 production testing program is anticipated to include flow and buildup testing of three zones of interest. The first two tests plan to evaluate sands observed in two previously untested thrust sheets in the intermediate Herrera that are below the sands observed in the Cascadura1ST1 well, while the third test will assess the base of the sands which were observed but not fully penetrated in the Cascadura-1ST1 well.