Touchstone will back in after payout on each well. Offshore leases have been taken in portions of Block 4, 17, 18 and 22 (an offshore block is approximately 5000 acres).
This project is being undertaken in conjunction with Louisiana Coastal Exploration Inc. The partnership has initially targeted prospect reserves of approximately 450 billion cubic feet of gas at depths from 5500 feet to 14,500 feet. Some of these targeted reserves are considered PUD's (Proved Undeveloped) and Probable. Drilling of the first well should commence July 15, 2003 and take 40 days to drill. The partnership has recognized potential deep prospects, which could exceed a trillion cubic feet of gas on its properties after complete development of the reserves.
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