Exploration boost for Touchstone Exploration

Shifting its spending from development activities into exploration appears to have paid off for Trinidad-focused oil and gas producer Touchstone Exploration Inc (LON: TXP). Production test results from the Coho-1 exploration well are better than expected, although the test was for a limited time, and the share price rose 1.75p to 13.25p.

The downside of the spending on exploration has been a decline in production and cash flow from production assets. However, the Coho-1 well in the Ortoire ex...

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Andrew Hore is the publisher of AIM Journal, which is an online monthly publication covering the Alternative Investment Market.