Ex­plo­ration Inc ("Touch­stone Eplo­ration" or the "Com­pa­ny") has an­nounced that its first ex­plo­ration well has en­coun­tered four zones with prospec­tive nat­ur­al gas ac­cu­mu­la­tions on the Or­toire ex­plo­ration block, on­shore in T&T.

The com­pa­ny’s pres­i­dent and CEO Paul R. Baay said al­though the Co­ho-1 project tar­get­ed the small­est prospect in the Or­toire ex­plo­ration in­ven­to­ry, the ini­tial drilling re­sults rep­re­sent sig­nif­i­cant po­ten­tial growth for the com­pa­ny.

He said the pres­ence of hy­dro­car­bons in the tur­bidite sands of the Her­rera con­firms that the com­pa­ny's ge­o­log­i­cal mod­el is cor­rect and its drilling op­er­a­tions al­so con­firm that the com­pa­ny's team can drill fu­ture wells in a safe, time­ly and cost-ef­fi­cient man­ner.

“This re­sult gives the board and man­age­ment a great deal of con­fi­dence to move di­rect­ly to the Cas­cadu­ra lo­ca­tion which will test a sep­a­rate struc­ture tar­get­ing sig­nif­i­cant oil prospects in a sim­i­lar ge­o­log­i­cal set­ting," Baay added.

Co­ho-1 was drilled to a to­tal depth of 8,560 feet in 28 days and is cur­rent­ly be­ing cased for fur­ther eval­u­a­tion.

Up­per Her­rera Gr7b and Gr7c sands have in­di­ca­tions of a to­tal of 105 feet of net gas pay at mea­sured depths be­tween 5,486 and 7,240 feet.

The drilling rig will now be mov­ing to the com­pa­ny's sec­ond ex­plo­ration well on the Or­toire block.

Ex­plo­ration Inc’s Co­ho-1 site at Or­toire where they have dis­cov­ered large nat­ur­al gas de­posits af­ter less than a month’s drilling.