Trinidad-focused oil and gas producer Touchstone Exploration (LON: TXP) has cash generating assets on the island, but it is the exploration activity that provides the upside for the share price.
The exploration is not the greenfield kind. The wells are near to previous wells drilled by Shell in the 1950s which showed signs of hydrocarbons.
The existing wells will help to finance some of the exploration spending and Touchstone has cash in the bank.
Trinidad has a history of oil and gas production and many oil majors are involved onshore and offshore, as well as other independents.
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