Touchstone Exploration Inc (PBEGF)

[pro_s2009]

Fantastic news for TXP.

Bottom section now confirmed flowing light oil. Big upside. Two main gas targets now to be tested. This is significant upside for TXP as they were still in pay at TD and so this oil section goes deeper and is thicker. Also good for de risking the deeper Krakken target.

Its all upside as this was not even a target pre-drill, only the two sections testing next for gas were the targets.



https://www.londonstockexchange.com/news-article/TXP/light-oil-discovery-in-first-of-3-royston-1-tests/15202662?showDisclaimer=true

"Paul Baay, President and Chief Executive Officer, commented:

"We are excited to discover a promising new light oil pool in the deepest test section of the Royston well, adding further potential to the future development opportunity in the Royston area, as light oil can be easily and economically developed alongside any gas development. The initial test confirms the large hydrocarbon column in the well, and we interpret the following two primary testing targets to be liquids rich natural gas. These results exceed pre-test expectations, as a flowing light oil opportunity with significant development potential from the bottom 100 feet of the wellbore is a major addition to the Royston area opportunity. We have the potential to further evaluate the intermediate Herrera in future drilling programs by penetrating the intermediate sheet when we drill and assess the underlying Cretaceous prospect. These results further amplify our onshore opportunities in Trinidad.""