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

May. 16, 2017 08:58AM PST

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 …

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.

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