Touchstone Exploration Announces First Quarter 2017 Results and Commencement of Drilling Program

Touchstone Exploration Inc. (“Touchstone” or the “Company”) (TSX:TXP) announces its financial and operating results for the three months ended March 31, 2017.

As quoted in the press release:

2017 First Quarter Highlights

  • Achieved quarterly average crude oil sales of 1,280 barrels per day, representing an increase of 3% from the fourth quarter of 2016 and a decrease of 6% from the prior year comparative quarter.

  • Reduced quarterly per barrel operating expenses by 29% or $7.00 per barrel from the first quarter of 2016.

  • Realized Trinidad operating netback before realized derivatives of $23.66 per barrel, representing an increase of $21.12 from $2.54 recorded in the first quarter of 2016.

  • Reduced quarterly general and administrative costs by $634,000 or 31% from the 2016 first quarter.

Click here for the full text release

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