(via NewsDirect)
Baay says that the development marks a major production leap, with an increase from 2,000 to over 10,000 barrels oil equivalent per day (boepd) anticipated in the coming weeks. The news positions Touchstone as the leading onshore independent producer in
He explains that the added cash flow is set to fully support future drilling endeavours. While Baay acknowledges that the
Baay addresses recent drilling at the the Royston-1X well which encountered light oil but requires further testing for economic viability.
The company is transitioning from exploration to a development phase, focusing on maximising opportunities in oil and gas and expanding its acreage position through government partnerships.
He says that with all the capacity ready to use, "what [Touchstone] really needs to do is to drill to fill [it]."
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