Touchstone Exploration Inc has made a light oil discovery in the lowermost section of its Royston-1 exploration well and is hopeful of future developments in the area.
In a media statement on Monday, Touchstone Exploration said the test was the first of three planned production tests at the well in which there appeared to be a hydrocarbon pay based on mud gas logging and open hole logs.
The Royston-1 exploration well was initially drilled on August 12 at a total depth of 10,700 feet. The company said drilling samples and open hole wireline logs showed the well encountered a significant Herrera turbidite package with a total observed thickness of more than 1,000 feet.
Touchstone Exploration Inc (LON:TXP) is a Canadian-based, international upstream oil and gas company currently active in the Republic of Trinidad and Tobago.