Touchstone Exploration Inc. has commenced drilling the Cascadura-3 development well and the CO-374 development well. Cascadura-3 was spud on March 1, 2024 from its Cascadura C surface location on the Ortoire block in which the company has an 80% working interest. The well is targeting gas-charged sands in the Herrera formation northeast of the recently drilled Cascadura-2 well and is expected to be drilled to an anticipated total depth of 7,000 feet using Star Valley Rig #205.

CO-374 was spud on February 28, 2024 on its CO-1 block, in which the company has a 100% working interest. The well is targeting crude oil-charged sands in the Cruse and Forest formations and is expected to be drilled to a total depth of 6,600 feet using PCSL Rig #8. The Cascadura-2 well has been successfully cased after it encountered wellbore instability issues due to high gas pressures which resulted in the need to sidetrack a portion of the well. Operations are proceeding on the road and pipeline right-of-way which will tie-in the Cascadura development wells to its Cascadura natural gas facility.

This project includes the preparation of the Cascadura B surface location, which has been approved for the drilling of up to four additional development wells.