Touchstone’s two development wells drilled on the WD-8 block were brought into production in mid-May and are collectively producing 175bbls/d, in line with expectations. Together, these wells provide immediate, stable cash flow which capitalises on current strong oil prices. Both wells were funded via an asset swap, whereby TXP traded its Fyzabad property in exchange for the funding of turnkey drilling costs associated with three development wells. The current production rate of 175bopd, far exc ....
