Touchstone Exploration (TSE:TXP) has released an update.
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Touchstone Exploration Inc. has reported significant growth in its second quarter 2024 results, with production volumes and funds flow substantially increasing, thanks to the Cascadura natural gas and associated liquids volumes. Despite a steeper than expected decline in field production, the company has revised its average production forecast to 8,000 boe/d and anticipates an annual funds flow from operations of $28 million. Additionally, Touchstone has adjusted its drilling plans to further develop the Cascadura field, with new wells expected to be operational by the end of 2024.
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