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Touchstone Exploration ( (TSE:TXP) ) has shared an update.
Touchstone Exploration Inc. has announced its acquisition of Shell Trinidad Central Block Limited, which includes a significant 65% operating interest in the Central block exploration and production licence in Trinidad and Tobago. This strategic acquisition, valued at $23 million, will enhance Touchstone’s production capabilities, providing access to both local and international LNG markets. The acquisition is expected to increase Touchstone’s production by approximately 2,080 boe/d and offers potential for further development through infill drilling and exploration. The deal is subject to regulatory approvals and funding arrangements, with completion anticipated in the second quarter of 2025.
More about Touchstone Exploration
Touchstone Exploration Inc. is a Calgary-based company involved in acquiring petroleum and natural gas rights, focusing on the exploration, development, production, and sale of these resources. The company is active in onshore properties in the Republic of 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: -48.15%
Average Trading Volume: 46,396
Technical Sentiment Consensus Rating: Buy
Current Market Cap: $66.85M
Find detailed analytics on TXP stock on TipRanks’ Stock Analysis page.
