The potential value of Touchstone Exploration’s asset base in Trinidad and Tobago is almost US$700 million.
President and Chief Executive Officer of Touchstone Exploration, Paul Baay, said the substantial potential of the company’s asset base in Trinidad was valued at approximately $671 million and $309 million on a before-tax and after-tax basis, respectively. This is with the Net Present Values discounted at 10% of future net revenues of its total proved plus probable reserves.
Mr. Baay noted the reserve estimates for 2024 reflect a material balance assessment approach based on data collected at Cascadura.
He added that the company plans to expand its potential from limited future crude oil drilling locations through further delineation and development in the Rio Claro block.
The statement highlighted Touchstone’s 2024 independent reserves evaluation, which was prepared by GLJ Ltd.
Touchstone Exploration’s common shares are traded on the Toronto Stock Exchange and the Alternative Investment Market of the London Stock Exchange. The company is incorporated under the laws of Alberta, Canada, with its head office located in Calgary, Alberta.