Touchstone acquires Trinity Exploration in $30.1m all-stock deal

Touchstone Exploration has agreed to acquire Trinity Exploration and Production, a crude oil exploration, development and production company operating in Trinidad and Tobago, in an all-stock deal worth around $30.1m.

Trinity Exploration and Production holds producing assets both onshore and offshore along the east and west coasts of Trinidad. It is publicly traded on the AIM market of the London Stock Exchange (LSE).

The deal is projected to yield a combined producing portfolio ranging from approximately 11,700 to 12,400boe/d, based on the 2024 average daily production guidance from each company.

Touchstone Exploration Inc (LON:TXP) is a Canadian-based, international upstream oil and gas company currently active in the Republic of Trinidad and Tobago. Primera Oil and Gas is the Trinidadian subsidiary of Touchstone.

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