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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: 52 GBX

AIM:TXP
Market: AIM
Market Cap: £95.41 m
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Touchstone Exploration CEO welcomes confirmation of 40-50 MMcf/d production...

Touchstone Exploration (LON:TXP) CEO Paul Baay speaks to Proactive London's Andrew Scott after completing the final phase of testing on the Cascadura well in Trinidad, with two intervals both flowing above 5,000 barrels oil equivalent per day (boepd). Touchstone says analysis of the absolute...

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