Touchstone Exploration (OTC) (PBEGF) has released an update.
Touchstone Exploration Inc. has announced an agreement to acquire Trinity Exploration & Production Plc, an independent oil production company in Trinidad and Tobago. The all-share offer is valued at approximately £24.1 million, with Trinity shareholders receiving 1.5 new Touchstone shares for each Trinity share, representing a 71.9% premium over the closing price of Trinity shares. This strategic move aims to create a leading operator in Trinidad, enhancing production capabilities, reserve growth, and delivering increased shareholder value through expected synergies.
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