Touchstone Exploration (OTC) (TSE:TXP) has released an update.
Touchstone Exploration reports a significant increase in first quarter 2024 production, mainly attributed to the Cascadura field, despite an 18% decrease from the previous quarter due to natural declines. The company’s financials indicate a robust operating netback of $20 million from Cascadura, and they have also announced an all-share acquisition of Trinity Exploration to bolster growth. Despite initial challenges with the Cascadura wells, Touchstone reaffirms its full-year production guidance, anticipating stronger performance towards the end of the year.
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