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Touchstone in Trinidad gas find.

GEISHA KOWLESSAR-ALONZO

[email protected]

Touchstone Exploration Inc has made a significant onshore gas discovery at its Chinook-1 exploration well on its Ortoire exploration block according to a statement from the company.

Touchstone reported yesterday that drilling on the well was completed and significant hydrocarbon accumulations, based on wireline log data, were encountered.

Chinook-1 is Touchstone’s third exploration well drilled on the Ortoire exploration block and the third hydrocarbon discovery since commencing the Ortoire exploration drilling program in August 2019.

The well was drilled to a total depth of 10,039 feet to test a separate structural formation 1.5 kilometres south from the successful Cascadura gas discovery.

The company said wireline logs indicated significant natural gas pay totalling approximately 589 net feet in three unique thrust sheets in the Herrera sands.

Additionally, it noted, natural gas pay of approximately 20 net feet was encountered in the shallower Cruse formation.

The company added it expects to initiate a comprehensive completion and testing plan to evaluate the economic potential of the hydrocarbon sands in the first quarter of 2021.

“The results from the Chinook well exceeded pre-drill expectations. The successful exploration well further confirms the geological model developed by our team and is expected to provide significant development opportunities in the Chinook area,”

Paul R. Baay, president and chief executive officer of Touchstone said.

Touchstone said it expects the drilling rig to mobilise to its Cascadura Deep location prior to the end of the month, adding that with both the shallow and deepest zones being new to the area, it also identified future exploration opportunities.

The company said focus is now on the drilling of the Cascadura Deep exploration well, which will impact the timing of Chinook-1 production testing operations to ensure the safety of operations.

Baay also thanked contractors, suppliers, Government officials and staff who he said kept the company moving forward during these challenging times.

James Shipka, Chief Operating Officer noted that Chinook-1 is one of the deepest wells drilled onshore in almost 10 years.

“We continue to see the significant and growing potential of the Ortoire exploration block with Chinook-1 encountering over 2,000 feet of turbidite deposits, nearly 1,500 feet of developed sands and a total of over 600 feet of natural gas pay,” Shipka said.

He added that at a depth of 10,039 feet, Chinook-1 is one of the deepest wells drilled onshore Trinidad in almost a decade and verifies the evolution of our drilling practices since commencing our exploration program.

“For Chinook-1, we employed a synthetic oil-based mud system that assisted in drilling while reducing formation damage and incorporated a top drive onto the drilling rig to aid in drilling to greater depths,”Shipka said.

Touchstone is a Calgary based company engaged in the business of acquiring interests in petroleum and natural gas rights and the exploration, development, production and sale of petroleum and natural gas, according to its website.