Touchstone Exploration to acquire Trinity Exploration in $30.1 million deal

Touchstone Exploration Inc., Calgary, has agreed to acquire Trinity Exploration and Production Plc in an all-share deal with an implied value of about $30.1 million.

Trinity is a crude oil exploration, development, and production company with onshore and offshore assets solely in the Republic of Trinidad and Tobago.

The combination would create “a Trinidadian operator of scale with a significant inventory of onshore and offshore exploration and development assets,” Touchstone said in a release May 1, and “combined funds flow from operations from an increased production base will allow the combined company to invest in multiple development programs concurrently.”

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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