Touchstone Exploration’s latest reserves evaluation has revealed a compelling valuation that underscores the company’s growth trajectory in Trinidad and Tobago. With future development plans already in motion, investors now have a clearer view of the significant upside embedded in the company’s portfolio.
Touchstone Exploration has confirmed that the potential value of its asset base in Trinidad and Tobago stands at nearly US$700 million. President and CEO Paul Baay revealed that the company’s total proved plus probable reserves carry a Net Present Value of approximately US$671 million before tax and US$309 million after tax, both discounted at 10%. This valuation showcases the economic strength of Touchstone’s reserves and reaffirms the strategic importance of its assets in the region.
Baay highlighted that the 2024 reserve estimates are based on a material balance assessment, specifically informed by comprehensive data collected at the Cascadura site. This methodical approach enhances confidence in the valuation and points to the quality and scale of the reservoir.
To build on this momentum, Touchstone is targeting further development in the Rio Claro block. The company plans to move beyond its limited current oil drilling opportunities by advancing delineation and exploration efforts in the area. These initiatives are designed to expand the resource base and unlock additional long-term value.
The 2024 independent reserves evaluation, which was carried out by leading engineering firm GLJ Ltd., strengthens the credibility of Touchstone’s projections and provides a solid foundation for future investor confidence.
Touchstone Exploration Inc (LON:TXP) is a Canadian-based, international upstream oil and gas company currently active in the Republic of Trinidad and Tobago. Primera Oil and Gas is the Trinidadian subsidiary of Touchstone.
