Touchstone Exploration Advances Acquisition of Shell Trinidad Central Block

The latest announcement is out from Touchstone Exploration ( (TSE:TXP) ).

Touchstone Exploration Inc. has provided an update on its acquisition of Shell Trinidad Central Block Limited (STCBL), which holds a significant working interest in Trinidad’s Central block exploration and production license. The acquisition, valued at $23 million, is expected to close in the second quarter of 2025, following the extension of the long-stop date to May 12, 2025. The completion is contingent upon satisfying or waiving conditions precedent, with all regulatory approvals already secured and financing discussions progressing with the company’s lender. This acquisition is poised to enhance Touchstone’s operational capabilities and market position in Trinidad’s energy sector.

More about Touchstone Exploration

Touchstone Exploration Inc. is a Calgary, Alberta-based company involved in acquiring interests in petroleum and natural gas rights, as well as the exploration, development, production, and sale of these resources. The company is active in onshore properties in Trinidad and Tobago and trades on the Toronto Stock Exchange and the AIM market of the London Stock Exchange under the symbol ‘TXP’.

YTD Price Performance: -21.52%

Average Trading Volume: 23,882

Technical Sentiment Signal: Buy

Current Market Cap: $60.48M

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