Touchstone Exploration, through its Trinidadian subsidiary, has secured a significant financial boost, underlining its commitment to expanding operations and exploration activities.
This strategic move involves an increase in borrowing capacity of $13 million, facilitated by an amended bank loan agreement with its Trinidad-based lender. The additional funds are earmarked for financing the company’s ambitious 2024 capital program, which includes drilling operations in the promising Ortoire block.
The Amended Bank Loan introduces a new five-year $10 million term loan facility and enhances the existing $10 million revolving loan facility, alongside the unchanged seven-year term loan facility.
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.
