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Touchstone Exploration ( (TSE:TXP) ) has issued an update.
Touchstone Exploration Inc. reported its second quarter 2025 results, highlighting a strategic acquisition of Shell Trinidad Central Block Limited, which added significant natural gas production and access to global LNG pricing. Despite this, the company experienced a decrease in petroleum and natural gas sales by 22% compared to the previous year, leading to a net loss of $0.71 million. The acquisition increased net debt to $63.89 million, and the company raised $5.22 million through a private placement to support its development program. Post-period, Touchstone closed a $12.5 million convertible debenture offering to fund ongoing projects and reduce payables, reflecting a focus on enhancing cash flows and maintaining capital discipline.
More about Touchstone Exploration
Touchstone Exploration Inc. operates in the oil and gas industry, focusing on the exploration and production of petroleum and natural gas. The company is primarily engaged in the development of its core assets and aims to maximize value through strategic acquisitions and disciplined capital investments.
For an in-depth examination of TXP stock, go to TipRanks’ Overview page.