Touchstone to Acquire Interests in Oil and Gas Properties in Trinidad and Tobago

- May 11th, 2011

Touchstone Exploration Inc. (NEX:TAB.U) reports that the company is to acquire interests in Oil and Gas properties in Trinidad and Tobago. The press release is quoted as saying: The proposed transaction is expected to add over 450 barrels of oil per day of production thereby doubling Touchstone’s current production base and hence offering material economies […]

Touchstone Exploration Inc. (NEX:TAB.U) reports that the company is to acquire interests in Oil and Gas properties in Trinidad and Tobago.

The press release is quoted as saying:

The proposed transaction is expected to add over 450 barrels of oil per day of production thereby doubling Touchstone’s current production base and hence offering material economies of scale. The Company’s field netbacks are expected to increase by over 35% from approximately $24.25 per barrel to over $33.00 per barrel on a proforma basis.

Click here to access the entire press release

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