StockMarketWire.com - Trinidad-focused Touchstone Exploration swung to an annual profit, buoyed by higher output levels and oil prices.

Net earnings for the year through December amounted to $0.5m, compared to losses of $0.9m on-year.

'Following the £3.8m private placement post year-end, Touchstone is funded to commence drilling the first exploration well on our Ortoire block where there is a significant opportunity to achieve a step-change in future reserves and production,' chief executive Paul Baay said.

'We will take a measured approach to our 2019 capital drilling program as we focus on our exploration opportunities.'


At 9:34am: [LON:TXP] Touchstone Exploration Inc share price was 0p at 12.25p



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