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BRIEF-Touchstone acquires producing assets of Trinity Exploration

Published 2015-10-21, 07:12 a/m
© Reuters.  BRIEF-Touchstone acquires producing assets of Trinity Exploration
TXP
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Oct 21 (Reuters) - Touchstone Exploration Inc TXP.TO :
* Touchstone announces agreement to acquire strategic onshore trinidad
producing assets
* Deal for $20.8 million
* Says expecting to fund the acquisition through cash on hand and its existing
bank facility
* Will be acquiring a 100% working interest in five blocks located in the
southern basin of the republic of Trinidad and Tobago
* Paid $2.08 million deposit to Trinity which is not refundable if deal fails
to close due to a breach of the agreement by co
* Says acquisition will immediately add three years of development drilling inventory to the company's portfolio

* Source text for Eikon ID:nMKWDMR7Sa

* Further company coverage TXP.TO

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