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.
