Touchstone completes exploration of Coho-1 well

Touchstone Exploration has reported positive results from its first exploration well Coho-1, which has been drilled to a total depth of 8,560ft.

The well has encountered four zones with prospective natural gas accumulations on the Ortoire exploration block located onshore in the Republic of Trinidad and Tobago.

Further evaluation of the Coho-1 well is currently in progress. The well logs indicate significant prospective natural gas pay in four sand packages in the Herrera sands.

Upper Herrera Gr7b and Gr7c sands have indicated a total of 105ft of net gas pay at measured depths between 5,486 and 7,240ft.

Touchstone said that the Well Services Petroleum Rig #80 will now be moved to its second exploration well on the Ortoire block.

The company noted that the well logs indicated four gas-bearing packages in the Herrera member of the Mid-Miocene aged Cipero formation.

Furthermore, logging discovered the presence of oil sands in the lower Herrera Gr7b repeat section at a depth of 7,788ft.

Touchstone Exploration president and CEO Paul Baay said: “Although Coho-1 targeted the smallest prospect in our Ortoire exploration inventory, the initial drilling results represent significant potential growth for the company.

“The presence of hydrocarbons in the turbidite sands of the Herrera confirms that our geological model is correct, and our drilling operations confirm that our team can drill future wells in a safe, timely and cost-efficient manner.”

The company is planning to start a comprehensive testing plan to analyse the economic impact of the prospective gas sands.

Touchstone Exploration chief operating officer James Shipka said: “The primary objective in Coho-1 was natural gas but oil noted in the repeat section of the well confirms the presence of previously unproven hydrocarbons and confirms the potential for further exploration targets in the lower Herrera sand sheets within the Ortoire exploration block.”

The Coho-1 is one of the first two of four exploration wells under the company’s Ortoire exploration and production licence.