Touchstone expands presence in Trinidad and Tobago with Trinity acquisition

Canada-based Touchstone Exploration has set the wheels in motion to acquire all of the issued and to be issued ordinary share capital of the Aberdeen-headquartered Trinity Exploration and Production, which has a portfolio of onshore and offshore oil assets located solely in Trinidad and Tobago. The Canadian player claims this will position it as a key player in the country’s oil and gas sector.

This acquisition is estimated to represent an implied value of around $30.1 million, based upon the closing Touchstone share price of 41.25 pence on AIM on April 30, 2024, and approximately 24.91% of the Canadian firm’s currently outstanding shares will be issued. Trinity’s board of directors has confirmed its intention to recommend unanimously to shareholders to vote in favor of the acquisition.

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.

Click to view all articles for the EPIC:
Or click to view the full company profile:
Facebook
X
LinkedIn
Touchstone Exploration

More articles like this

Touchstone Exploration

Touchstone Exploration maximise energy potential

Touchstone Exploration’s expanding exploration portfolio boasts 137,312 acres, with strategic assets such as Ortoire and Cipero holding significant potential for energy resources and long-term growth.

Touchstone Exploration

Touchstone Exploration advances growth in Trinidad

Touchstone Exploration solidifies its position in Trinidad’s energy sector with the recent acquisition of the Rio Claro block through its subsidiary, Primera Oil and Gas. Exciting new opportunities await.