Touchstone Exploration Inc. announce its average daily production for the fiscal year ending September 30, 2013 was 1,727 barrels per day, which represents a 49% increase from the 1,159 barrels per day achieved in the 2012 fiscal year. Field-estimated production for the month of October was 1,750 barrels per day, with seven additional wells presently offline awaiting work-over or recompletion programs. All of these wells are expected to add to production volumes over the next sixty days.
During the fourth quarter the Company successfully drilled CO-362 and CO-365 on its Coora block. Both of these wells have subsequently been completed and are presently producing at a combined average of approximately 175 barrels per day. These initial results demonstrate the potential of the Coora block to add low risk, economically attractive future drilling locations, of which nineteen have currently been identified. Furthermore, FR-1736 located on the WD-8 property was being drilled during year-end and has since been cased for completion. This well is anticipated to be completed and placed on production in late November.