An update from Touchstone Exploration regarding progress on the tie-in of Cascadura 5 gas well was posted on Instagram this morning
instagram.com
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Also, a shareholder on the Touchstone Exploration Discord forum spoke with TXP CEO Paul Baay yesterday, Oct. 20 2025 and posted a summary of the conversation.
Some good news on current increased production from the recently acquired Central Block.
A reminder that any production from the Central Block above the current contracted 22,000 mcf/d
exposes Touchstone to the World LNG pricing, currently around $11.00 mcf. Processing fees at Point
Fortin are approx $2.00/mcf so TXP would receive approx $9.00/mcf on any production over 22,000 mcf.
Here's the summary of the conversation that was posted on the Discord forum yesterday :
"Just had a phone call with PB, emailed him last night and he arranged the call today, so fair play on that front.
I have typed out some key points quickly that were discussed. So if have missed anything or any slight errors then apologies. But thought worth sharing
Cb pad – cement poured, rig move in next week or so, spud November (confident on this) target number around 10mmscfd and should all (a majority) be at higher pricing based on the optimization work already done (see below)
Cas 5 hook up going well, should be very close to the target (by end of October)
CB was 17mmscfd when took it over, up to 23mmscfd at the weekend so above the magic 22mmscfd, but needs to be that or above on average for the full month, key thing is any new well there would be at higher pricing due to optimization work they’ve done
On the financing, multiple plates spinning, not likely it will go into next year, will be a solution this year, still option of waiver however probability of that doesn’t sound super high, looking at joint ventures etc, if did a raise then would be rights issue and option for existing shareholder, also aware while they try explore other avenues and the SP drops it makes it harder.
Ideally would get more II and also even one of these on the BOD, fresh blood and suggest longer term holder, not just flipping placement shares.
Q3 CB still messy (but presume better than Q2) as previously mentioned but Q4 should show full picture, reason for this was still one off costs, one was the compound for example at approx half a million
Cost cutting internally where possible, PB will be doing the social media side of things and did stress to him the “easy wins” that can be achieved with this that he agreed on, I think we will see some in next week or so. Has been (sounded significant) cuts in Calgary and Trinidad.
Had 8 days in the last year that wasn’t in the blackout period, chairman sitting ready with approx. 100k CAD to purchase, same with PB, so expect them at some point, something to do with within certain time frame of the quarterly I believe it was that stopped the chairman recently as his order didn’t fill before the deadline
Cas 4 they shouldn’t have gone back in to that well, should’ve started fresh but cost saving, was honest said their mistake and will learn from it. But on that I asked whether they would revise guidance currently if had the opportunity on predicted flow from Cas 4 and said no.
Board remuneration I believe he said has been cut by 40%
High level plan is Cas 5 on imminently, Cas 4 still a while away (don’t want to shut Cas 5 in to bring Cas 4 on) asked what the way round this was and Paul mentioned Cas plant due maintenance period of a few days, if Cas 4 ready to go then likely brought on then. Can do this maintenance work within 6 months of approx. now so are flexible there. NOT saying Cas 4 will be 6 months away
Asked about the higher pricing PB mentioned at CB for the 3-4 day period when one of the trains was shut, they haven’t had the price but will share when they get it, will give an idea of what that higher pricing looks like above 22mmscfd.
He did mention Perenco but had been in touch regarding gas pricing etc, as the assests they have recently taken over are the domestic pricing, basically asking about the contract (higher priced) we have now at CB, and any way they could sell the gas to txp and txp put it through CB facility. Think that was the gist, obviously not an imminent thing but shows the lucrative pricing at CB.
Probably missed some things as was a lot of info so will add in coming days if remember anything and again if any slight errors apologies there was a lot to remember !
Confident that the compressor at Cascadura will be a huge improvement, Q2 next year"
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