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Touchstone Exploration announce 'signifiant' gas discovery at Chinook-1 exploration well in Trinidad

Touchstone Exploration's (LON:TXP, TSE:TXP) Paul Baay talks to Proactive about today's announcement of a significant gas discovery at the Chinook-1 exploration well in Trinidad.

Baay explains that a 'test crew' will need to go during the first quarter of next year to decipher the contents.

Chinook-1 was drilled down to 10,039 feet and has encountered some 589 feet of net gas pay across three sections in the Herrara sands, and also saw 20 feet separately in the shallower Cruse formation.

Baay also touches upon the the successful Cascadura gas discovery well, testing a separate structural formation to the south.

Quick facts: Touchstone Exploration Inc

Price: 108 GBX

AIM:TXP
Market: AIM
Market Cap: £225.4 m
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Touchstone Exploration raises US$30m for production at Ortoire project

Touchstone Exploration's (LON:TXP) Paul Baay explains why the company has decided to raise US$30m via a share placing. Baay talks through the reason for the funding, which is to advance ongoing and successful programmes within the Ortoire project. The Trinidad oil and gas firm is issuing...

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