Touchstone Exploration Inc has completed drilling the Cascadura Deep-1 exploration well on the Ortoire exploration block, onshore in T&T, noting that it encountered significant hydrocarbon accumulations based on drilling and wireline log data.
The company said wireline logs indicated natural gas pay totalling approximately 1,315 net feet in four unique thrust sheets in the Herrera sands from a depth of 5,455 feet to total depth.
Drilling was suspended prior to the planned total depth of 10,600 feet due to high pressure gas zones encountered while drilling, the company said.
The Cascadura Deep-1 exploration well was spud on October 27.
Paul R Baay, president and CEO, noted that he was pleased the Ortoire block continues to outperform expectations.
“The Cascadura Deep-1 well is the best well we have drilled on the Ortoire property to date and it has provided three key pieces of information, primarily that the Cascadura field has numerous targets with each one of the thrust sheets providing its own unique opportunity,” Baay said.
He added it has also shown that the system is hydrocarbon charged and that in time the company will require more drilling horsepower to evaluate the deeper zones.
The company’s CEO James Shipk said the Cascadura Deep-1 exploration well confirms that this is a unique structure with tremendous potential.
“Although we were unable to drill to our planned total depth, the information gathered while drilling and the hydrocarbon accumulations encountered are truly exceptional.
“Not only did we encounter a massive section of turbidite deposits nearly 3,000 feet thick, we established the intermediate thrust sheet as a viable reservoir and expanded the known boundaries of the sands tested in the Cascadura-1ST1 well,” Shipk said.
The Cascadura Deep-1 well is the fourth of the amended five well exploration commitment under Touchstone’s Ortoire Exploration and Production Licence.
The company has an 80 per cent working interest in the licence but is responsible for 100 per cent of the drilling, completion and testing costs associated with the initial five exploration wells. Heritage Petroleum Company Ltd holds the remaining 20 per cent working interest.