Touchstone Exploration (OTC) (PBEGF) has released an update.
Touchstone Exploration Inc. has reported a significant operational and financial transformation in Q1 2024, driven by the Cascadura field’s performance, which contributed around $20 million in operating netbacks. Despite a steeper initial decline in production than anticipated, the company is optimistic about maintaining its full-year guidance, with expectations of production increases towards the end of 2024. In addition, Touchstone has reached a preliminary agreement for the all-share acquisition of Trinity Exploration and Production Plc, promising enhanced scale, strength, and growth opportunities for the company.
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