TOUCHSTONE Exploration has encountered natural gas in four zones in its first onshore exploration well in Trinidad.
The company said the Coho-1 was drilled to a total depth of 8,560 feet in 28 days and was currently being cased for further evaluation.
Touchstone said well logs indicated significant prospective natural gas pay in four unique sand packages in the Herrera sands.The upper Herrera Gr7b and Gr7c sands had indications of a total of 105 feet of net gas pay at measured depths between 5,486 and 7,240 feet.
The drilling rig would now move to the company’s second exploration well on the Ortoire block.
The company’s chief executive Paul R 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.
“This result gives the board and management a great deal of confidence to move directly to the Cascadura location which will test a separate structure targeting significant oil prospects in a similar geological setting.”
Last Wednesday at a United National Congress Pavement Report in Rio Claro, former energy minister Kevin Ramnarine predicted major oil and gas discoveries in south east Trinidad.
He said on October 31, 2014, three companies Range Resources of the UK, Touchstone Operators of Canada and Lease Operators Limited of Trinidad were awarded three blocks by the Ministry of Energy.
Ramnarine, who was Minister of Energy between 2011 and 2015, said, “Five years later…there is unprecedented levels of exploration taking place all around you (in Rio Claro) as a result of the contracts that were signed.”
He predicted major discoveries by Touchstone in the Ortoire Block and Lease Operators in the Rio Claro Block.