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Touchstone Exploration pushing ahead with 2018 drill programme

Paul Baay, chief executive of Touchstone Exploration Inc (LON:TXP, TSE:TXP), tells Proactive Investors they've optimised the wells drilled in 2017 as well as updated on the 2018 drill programme.

Oil sales averaged 1,521 and 1,552 barrels per day for the months of January and February respectively, at average prices of US$61.17 and US$57.79 per barrel.

Baay says the four wells drilled last year have maintained strong production with the new wells yielding an average of 280 bopd.

Field production is currently seen at around 1,705 bopd, and the batch of new wells are flowing around 400 bopd.

Quick facts: Touchstone Exploration Inc

Price: 125.5 GBX

Market: AIM
Market Cap: £261.92 m

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on 03/26/2020

2 min read