Touchstone Exploration Inc
Touchstone Exploration Inc. ("Touchstone" or the "Corporation") is a Canadian public oil and gas company focusing on International operations. Through its direct and indirect wholly-owned subsidiaries in Barbados and Trinidad (Touchstone Exploration (Barbados) LTD. and Territorial Services Limited), the Corporation is engaged in the exploration and development of its oil and gas properties located in Trinidad. The primary business of the Corporation is the acquisition, exploration and development of prospective oil and gas properties in Trinidad and, when deemed appropriate, the Caribbean region.
The islands of Trinidad and Tobago are located between the Atlantic Ocean and the Caribbean sea, northeast of Venezuela. The southern tip of the island lies only 11 kilometers from the Venezuelan mainland, while the island of Tobago lies approximately 30 kilometers northeast of Trinidad. Trinidad is the Caribbean's largest producer of oil and natural gas. According to the 2008 BP Statistical Energy Survey, Trinidad had proved oil reserves of 0.793 billion barrels at the end of 2007 and produced an average of 154.1 thousand barrels of crude oil per day.
Further, Trinidad is situated at the triple junction formed by the meeting of three plates, the Caribbean, South American and North Atlantic Plates. As a result, this small island and its surroundings is one of the most geologically complex areas of the world. The interaction of these plates at the triple junction, with each other and the plates surrounding them has resulted in the formation of folded (anticlines) and faulted structures, ideal structure traps for the accumulation of petroleum.
To date, most wells have been drilled to structural traps or combination structural/ Stratigraphic traps. The high porosity and permeability of sedimentary rocks, which are required characteristics of all good reservoir rocks, influence their ability to store and produce fluids. In Trinidad all the reservoirs are Sandstones. In other parts of the world, e.g. Mexico and the Middle East, some of the major reservoirs are carbonate limestone. The source rock from which most of the oil is generated is the Cretaceous age Naparima Hill Formation. The rocks of this formation outcrop at three locations in Trinidad, but the most accessible location is the San Fernando Hill which can be seen from any of the entrances into San Fernando.