More good drilling news from Trinidad-focused oil and gas producer Touchstone Exploration Inc (LON: TXP). The results of the Cascadura-1ST1 on the Ortoire exploration block in Trinidad suggest a significant crude oil discovery. The share price has jumped by more than two-fifths to 19.75p. It has more than one year since it was that high.
The announcement is full of technical language. The well indicates 1,037 feet gross of oil pay. In reality, the result was much better than expected and this could be a large discovery. It still needs to be fully tested, though.
The Cascadura-1ST1 well w...
