Very usefull links


News links




Dow Jones

Oil price



Views and News





Touchstone Exploration's very optimistic in Trinidad & Tobago economic environment -CEO




By Rapheal John-Lall

Petroleumworld 06 14 2018

Touchstone Exploration's strong financial performance reflects its optimism in T&T's economic environment, CEO Paul Baay said yesterday.

“We have spent almost US$71 million in Trinidad and Tobago over the last seven years onshore. Our goal is to be the largest onshore producer here in Trinidad and Tobago,” he said in an interview following the company's annual general meeting at the Hyatt Regency, Port-of-Spain.

Touchstone, which is headquartered in Canada and listed on the London and Toronto Stock Exchanges, is one of the largest independent onshore oil producers in T&T.

Commenting on the company's financial performance in the last fiscal year, Baay said: “We had about US$4.5 million in cash flow this year. That is up by about $250,000 from the year before, so we have seen a huge improvement and when we look forward into the next year, we are looking at about US$14 million in 2018.”

He attributed the company's strong performance to their drilling activity. “We have drilled wells that produced better than what we thought and with rising oil prices over the last year, the wells have come on much better than we had targeted and we have got the operating costs down. It is turning into a very profitable organisation,” he said.

Baay is optimistic about doing business in T&T and the future.

“It is going to be our most active time in seven years. Our programme is going to double from ten to 20 wells next year. We will go from a $4 million to about a $20 million capital budget next year,” he said.

“Part of that is that there are world class oil and gas reserves onshore in Trinidad.”


Twitter: @petroleumworld1

Hit your target - Advertise with Us

Story by Rapheal John-Lall from Trinidad & Tobago Guardian
06 13 2018

We invite all our readers to share with us
their views and comments about this article.
Write to

By using this link, you agree to allow PW
to publish your comments on our letters page.

Any question or suggestions,
please write to:

Best Viewed with IE 5.01+ Windows NT 4.0, '95,
'98,ME,XP, Vista, Windows 7,8,10 +/ 800x600 pixels


November 13 - 15, 2018.

Gubkin University, Moscow
SPE Student Chapter











Editor & Publisher:Elio Ohep/
Contact Email:

CopyRight © 1999-2016, Paul Ohep F. - All Rights Reserved. Legal Information

PW in Top 100 Energy Sites

CopyRight©1999-2017, Petroleumworld ™  / Elio Ohep - All rights reservedThis site is a public free site and it contains copyrighted material the use of which has not always been specifically authorized by the copyright owner.We are making such material available in our efforts to advance understanding of business, environmental, political, human rights, economic, democracy, scientific, and social justice issues, etc. We believe this constitutes a 'fair use' of any such copyrighted material as provided for in section 107 of the US Copyright Law. In accordance with Title 17 U.S.C. Section 107, the material on this site is distributed without profit to those who have chosen to view the included information for research, information, and educational purposes. For more information go to: If you wish to use copyrighted material from this site for purposes of your own that go beyond 'fair use', you must obtain permission fromPetroleumworld or the copyright owner of the material.