ProfitQuotes.com
symbol lookup  commodity list
Bookmark This Page
Daily Dividend Report: JNJ,K,SCHW,CCI,DUK

Fri, 23 Oct 20:40:30 GMT
Wednesday Sector Leaders: Precious Metals, Agriculture & Farm Products

Wed, 21 Oct 16:03:11 GMT
Portfolio Channel
Free Energy Dividend Stock Report
Free Dividend Report - Top Ranked Stocks
Free Dividend Paying Gold/Metals Stocks Report
Get a quote box (like the one below) for your site!
ProfitQuotes.com Commodities Quotes
commodity quotes list
energy quotes  gold quotes
uranium stocks  
solar power stocks

wind power stocks

Industry focus:

advertising stocks,
space stocks,
aerospace stock,
aerospace sector,
list of aerospace companies,
largest chemical companies,
chemical stock,
chemical news,
best agriculture stocks,
ag stocks,
chinese agriculture stocks,
top agriculture companies,
agriculture stocks,
agricultural stocks,
agricultural stock,
stocks agriculture,
agriculture markets,
agriculture index,
agriculture industries,
agricultural investment,
agriculture investment,
agricultural industry,
farm stock,
airline stock symbols,
airline stock prices,
airline stock,
airlines stock,
clothing stock,
fashion stocks,
publicly traded fashion companies,
clothing company stocks,
apparel stock,
apparel companies,
application software stocks,
asset management stocks,
auto stocks,
auto industry stocks,
chinese auto stocks,
auto stock prices,
automotive stock,
auto parts stocks,
community bank stocks,
regional bank stocks,
canadian bank stocks,
banking stock,
national bank stocks,
commercial bank stock,
banks stock,
bank stock quote,
bank stocks,
banking industry,
alcohol stocks,
beverage stock,
global wine stocks,
wine stocks,
liquor stock,
biotech stocks list,
biotechnology investing,
public biotech companies,
top biotech stocks,
nanotechnology stock,
largest biotech companies,
biotechnology stock,
biotech investing,
investing in biotech,
best biotech companies,
bio stocks,
biotech sector,
biotechnology investment,
biopharma companies,
new biotech companies,
biotech investment,
biotechnology industries,
nanotech stocks,
biotech stocks,
biotechnology articles,
biotechnology news,
business stocks,
service stocks,
chemical companies,
chemical industries,
chemical industry,
chemical company,
chemicals company,
cigarette stock,
cigarette company stocks,
cigarette stock symbols,
tobacco company stocks,
tobacco stock,
cigar stocks,
communications stocks,
communication stock,
computer peripherals companies,
computer peripherals,
computers stocks,
computer stock,
computer web,
internet stocks,
construction stocks,
machinery stocks,
builders stocks,
building stocks,
consumer goods stocks,
consumer services stocks,
consumer services companies,
lending stocks,
mortgage banking,
lending companies,
mortgage bankers,
loan services,
mortgage services,
mortgage bank,
loan bank,
defense stocks,
defensive stock,
department store stocks,
diagnostic company,
diagnostic companies,
pharmaceuticals stocks,
drug stocks,
drug company stocks,
pharma stock,
education stocks,
college stock,
electric utility stocks,
electric company stocks,
electric utilities stocks,
utility stocks,
utilities stocks,
power equipment companies,
electrical supply companies,
electronic stocks,
entertainment stock,
movie stocks,
movies companies,
movie company,
cefs,
open ended and closed ended mutual funds,
closed ended investment,
closed ended fund,
bonds fund,
closed end,
food stock,
game stock,
gambling stocks,
casino stocks,
gaming stocks list,
gaming stocks,
gas utility companies,
gas company stocks,
construction industries,
builders contractors,
construction services,
construction industry,
grocery store stocks,
supermarket stock,
drug store stocks,
home stocks,
furniture stock,
home improvement stocks,
medical company stocks,
top medical stocks,
medical stock,
hospital stock,
medical supply stocks,
medical technology stocks,
medical device stocks,
medical equipment stocks,
copper mining,
palladium mining stocks,
mining metals,
mining,
mining news,
gold exploration,
mining share price,
lithium mines,
mining industries,
international mining companies,
mining information,
molybdenum mining companies,
nickel mining companies,
metals and mining stocks,
gold and silver mining stocks,
copper mining companies,
rare earth mining companies,
rare metals stocks,
rare earth stocks,
metals stocks,
welding stock,
nonprecious metals,
non metallic mining,
office supplies companies,
office supply companies,
oil services stocks,
oil pipeline stocks,
gas pipeline stocks,
gas pipeline companies,
pipeline companies,
natural gas pipeline companies,
oil services companies,
oil field services,
oil service stocks,
natural gas pipelines,
oilfield service companies,
oil and gas pipeline companies,
oil gas pipeline,
oil exploration stocks,
oil exploration sector,
oil exploration companies,
oil drilling stocks,
oil drilling companies,
oil production companies,
china oil companies,
brazil oil companies,
china oil stocks,
brazil oil stocks,
oil companies,
oil stocks,
oil drilling,
oil exploration,
offshore oil drilling companies,
list of oil drilling companies,
oil and gas exploration,
oil and gas drilling,
oil and gas stocks,
oil and gas drilling companies,
oil refining companies,
oil marketing companies,
oil refining stocks,
oil refining sector,
oil refinery companies,
oil refinery stocks,
major oil companies,
oil sector,
oil refinery,
oil refinery company,
oil company,
oil marketing company,
oil refining company,
oil refining industry,
major oil companies list,
oil and gas companies,
crude oil stocks,
packaging companies,
container companies,
packaging stocks,
packaging sector,
container sector,
pulp stocks,
paper stocks,
timber stocks,
pulp companies,
paper companies,
timber companies,
timber trusts,
cardboard companies,
paper sector,
timber sector,
paper companies list,
silver mining companies,
gold mining companies,
gold mining sector,
precious metal stocks,
mining companies,
exploration sector,
mining sector,
exploration stocks,
mining stocks,
silver stocks,
gold stocks,
gold mining stocks,
silver mining stocks,
silver mining company,
canadian mining companies,
gold mining,
gold mining company,
mining company,
list of mining companies,
gold stocks list,
largest gold mining companies,
silver mining,
printing companies,
printing stocks,
printing sector,
newspaper stocks,
newspaper sector,
newspaper companies,
publishing stocks,
publishing sector,
publishing companies,
digital media companies,
digital media stocks,
digital media sector,
book publishing companies,
digital media company,
publishing company,
railroad stocks,
railroad sector,
railroad companies,
railroad company,
railroad investment,
major railroad companies,
real estate companies,
real estate stock,
real estate public companies,
real estate investing,
real estate investments,
real estate sector,
commercial real estate investing,
real estate investment firms,
real estate investing guide,
REITs,
real estate investment trust,
REIT sector,
REIT stocks,
REITs sector,
REITs stock,
public REITs,
real estate investment trusts,
real estate investment trust companies,
real estate investment trusts REITs,
real estate investment companies,
real estate investment company,
real estate investment trust REIT,
rubber stocks,
plastic stocks,
rubber companies,
plastic companies,
rubber sector,
plastic sector,
plastic manufacturing companies,
rubber company,
plastic company,
semiconductor stocks,
semiconductor investments,
semi stocks,
semiconductor companies,
semiconductor sector,
shipping stocks,
dry bulk stocks,
container stocks,
dry bulk shipping,
dry bulk shipping companies,
tanker stocks,
shipping companies,
shipping sector,
specialty retail,
retail stocks,
retail investing,
retail store stocks,
consumer stocks,
consumer investment,
retail companies,
retail sector,
sports stocks,
sports investing,
sporting goods stocks,
sports investments,
sporting goods companies,
sporting goods sector,
stock message boards,
television stocks,
television investment,
radio stocks,
radio invest,
media stocks,
media invest,
media investment,
media investing,
television companies,
television sector,
radio sector,
radio companies,
media companies,
media sector,
textile stocks,
apparel stocks,
textile investment,
textile companies,
textile sector,
apparel sector,
freight investment,
transportation investment,
truck investment ,
freight stocks,
transportation stocks,
trucking stocks,
trucking companies,
trucking sector,
waste management stocks,
waste stocks,
recycling stocks,
waste investment,
waste companies,
waste sector,
water stocks,
water utilities,
water investing,
water investment,
water companies,
water sector

Home Oil & Gas Electricity Metals Treasuries Stocks My Portfolios Forex
News - Full Story
 Related Quotes
 Touchstone Exploration Inc  1.79   0.01  0.56%
 Enter Symbols: 
Touchstone Announces Significant Natural Gas Discovery at Chinook

CALGARY, AB, Oct. 14, 2020 /CNW/ - Touchstone Exploration Inc. ("Touchstone", "we", "our", "us" or the "Company") (TSX: TXP) (LSE: TXP) reports that the Company has completed drilling the Chinook-1 exploration well on the Ortoire exploration block, onshore in the Republic of Trinidad and Tobago (Touchstone 80% working interest operator, Heritage Petroleum Company Limited 20% working interest) and is pleased to announce that the well encountered significant hydrocarbon accumulations based on wireline log data. Chinook-1 is the Company'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.

Highlights

  • Chinook-1 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.

  • Wireline logs indicated significant natural gas pay totalling approximately 589 net feet in three unique thrust sheets in the Herrera sands.

  • Additional natural gas pay of approximately 20 net feet was encountered in the shallower Cruse formation.

  • Completion and testing of the well is expected to be undertaken during the first quarter of 2021.

  • We expect the drilling rig to mobilize to our Cascadura Deep location prior to the end of the month.

Drilling samples and open hole wireline logs indicated that the Chinook-1 well encountered a significant Herrera turbidite package with a total thickness of 2,000 feet containing over 1,480 feet of sand. Open hole well logs and drilling samples indicated that these sands contain an aggregate 589 net feet of natural gas pay in three unique thrust sheets. The well encountered 341 net feet of hydrocarbon pay in the Gr7a section of the overthrust Herrera sands at measured depths between 8,154 and 8,710 feet. The overthrust Gr7a sands were the Company's primary target originally identified in the offsetting BW-7X well. 180 net feet of hydrocarbon pay was identified in the Gr7bc section of the intermediate Herrera sands at measured depths between 8,850 and 9,750 feet. The sands encountered in this thrust sheet also correlate to the offsetting BW-7X well and were the Company's secondary target. 68 net feet of hydrocarbon pay was identified in the Gr7bc section in a subthrust sheet of Herrera sands at measured depths between 9,750 and 10,003 feet. This represents a previously unknown thrust sheet as no sands of this depth were previously penetrated in the offsetting wells.

In addition to the Herrera sandstones and the associated hydrocarbon discoveries, an additional 20 net feet of hydrocarbon pay was identified in the Cruse formation at depths between 2,996 and 3,021 feet. This represents a new discovery in the area that was not observed in offsetting well data.

In the first quarter of 2021, the Company expects to initiate a comprehensive completion and testing plan to evaluate the economic potential of the hydrocarbon sands. We expect the drilling rig to move to the Cascadura Deep location prior to the end of the month.

Paul R. Baay, President and Chief Executive Officer, commented:

"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. With both the shallow and deepest zones being new to the area, it also identified future exploration opportunities. The Company's 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. I would like to thank our contractors, suppliers, government officials and our staff who have worked together to keep us moving forward during these challenging times."       

James Shipka, Chief Operating Officer, stated:

"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. 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. We intend to replicate these drilling practices moving forward given Chinook-1 demonstrated our ability to successfully conduct complex operations in a safe manner while strictly adhering to restrictions imposed during the ongoing COVID 19 pandemic."

Chinook-1 Drilling

The Chinook-1 exploration well was spud on August 13, 2020 using Well Services Petroleum Ltd. Rig #80. The well was designed to explore the potential for a thick section of Herrera sandstones in the SW-NE trending Chinook anticline, which is located approximately 1.5 kilometres south of the Cascadura anticline and our associated gas discovery. The primary target of the Chinook well was the Gr7a overthrust Herrera sands near the crest of the structure at an approximate measured depth of 8,100 feet, which is capped by thick Karamat shales. The well was intended to further evaluate a secondary target of stacked or repeated intervals of Gr7bc intermediate Herrera sands from approximately 8,800 feet to a planned total depth of 9,870 feet. The well was drilled to a total measured depth of 10,039 feet (true vertical depth of 9,776 feet) on October 11, 2020 and was extended past its originally planned depth due to hydrocarbon shows at 9,820 feet.

Despite being spud a mere 1.5 kilometres south of Cascadura, the Chinook anticline is separate from, and distinctly different than the Cascadura anticline to the north. The structural mapping on the Herrera interval reveals that Cascadura and Chinook are two anticlines converging toward each other, with Cascadura being a tighter but heavily stacked fold, thereby making it a taller structure, while Chinook is interpreted to be a simpler, broader fold.

The Chinook-1 well is the third of a four well exploration commitment under Touchstone's Ortoire Exploration and Production Licence. The Company has an 80% working interest in the licence but is responsible for 100% of the drilling, completion and testing costs associated with the initial four exploration wells. Heritage Petroleum Company Limited holds the remaining 20% working interest. Touchstone has no reserves associated with the Chinook-1 well included in the Company's December 31, 2019 independent reserves report.

Further testing is required to determine the economic viability and potential of the well, and the Company plans to commence completion and production testing operations during the first quarter of 2021.

Touchstone Exploration Inc.

Touchstone Exploration Inc. 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. Touchstone is currently active in onshore properties located in the Republic of Trinidad and Tobago. The Company's common shares are traded on the Toronto Stock Exchange and the AIM market of the London Stock Exchange under the symbol "TXP".

Advisories

Forward-Looking Statements

Certain information provided in this news release may constitute forward-looking statements within the meaning of applicable securities laws. Forward-looking information in this news release may include, but is not limited to, statements relating to the quality and quantity of prospective hydrocarbon accumulations; the Company's exploration plans and strategies, including with respect to future well drilling, well completions and production testing, the timing and the potential commercial production viability thereof; and the sufficiency of resources and available financing to fund future exploration drilling, completions and production testing operations. Although the Company believes that the expectations and assumptions on which the forward-looking statements are based are reasonable, undue reliance should not be placed on the forward-looking statements because the Company can give no assurance that they will prove to be correct. Since forward-looking statements address future events and conditions, by their very nature they involve inherent risks and uncertainties. Actual results could differ materially from those currently anticipated due to a number of factors and risks. Certain of these risks are set out in more detail in the Company's 2019 Annual Information Form dated March 25, 2020 which has been filed on SEDAR and can be accessed at www.sedar.com. The forward-looking statements contained in this news release are made as of the date hereof, and except as may be required by applicable securities laws, the Company assumes no obligation to update publicly or revise any forward-looking statements made herein or otherwise, whether as a result of new information, future events or otherwise.

SOURCE Touchstone Exploration Inc.

Cision View original content to download multimedia: http://www.newswire.ca/en/releases/archive/October2020/14/c6447.html

<  back


TickerTech.com Private-label branded pages powered by TickerTech.com. Copyright © 2020 Ticker Technologies, All Rights Reserved. Quote data is at least 20 minutes delayed. NYMEX/COMEX data is at least 30 minutes delayed. Please read other important disclaimer information.
"When profit is unshared it's less likely to grow greater." - Malcolm Forbes
Google
 

© Ticker Technologies, all rights reserved. Profitquotes.com is wholly owned by Ticker Technologies and serves to demonstrate the company's products to prospective clients. All quotes are in US Eastern Time (EST) and delayed at least 15 minutes. NYMEX/COMEX data delayed at least 30 minutes. Data is presented for informational purposes only and not intended for investment purposes. Nothing on this site should be considered advice, opinions, recommendations, or endorsements from ProfitQuotes.com or Ticker Technologies, Inc. Full Disclaimer.