STOCK WATCH

■ TRINIDAD-FOCUSED oiler Touchstone Exploration gushed after drilling results from one of its wells came in much better than expected.

Chief executive Paul Baay said that the results from the Royston-1 exploration well, in which the company owns an 80pc working interest, had been almost double previous expectations.

While it is not yet clear whether the discovery was oil or natural gas, Touchstone said drilling had uncovered a turbidite, a rock formation which is usually associated with oil reservoirs.

The group’s shares jumped 20.8pc, or 19.5p, to 103.5p.