Touchstone Exploration Inc (LON:TXP) has announced that Primera Oil and Gas Limited (POGL), our wholly owned Trinidadian subsidiary, executed an Exploration and Production (Public Petroleum Rights) licence for the Rio Claro block on November 4, 2024.
The Rio Claro Licence has been formally entered into by POGL, the Government of Trinidad and Tobago, the Trinidad and Tobago Ministry of Energy and Energy Industries (“MEEI”), and a subsidiary of the National Gas Company of Trinidad and Tobago (“NGC”). POGL holds an 80 percent operating working interest in the Rio Claro Licence, while NGC retains the remaining 20 percent. Like the Company’s Charuma, Cipero and Ortoire licences, the Rio Claro Licence initially has a six-year exploration term, with the possibility of a 19-year extension for areas where commercial discoveries are approved by the MEEI.
