Touchstone exploration: an onshore success story
14 Hrs Ago
Touchstone’s discoveries, being onshore and close to existing NGC pipelines means that the development cost will be low and that the fields can be brought on production sooner than offshore gas fields. Photo courtesy the Geological Society of TT -
GEOLOGICAL SOCIETY
Touchstone’s share price was CAD$0.20 in January 2019; by January 2020 it had doubled to $0.40. But by January 2021, despite extenuating circumstances related to the covid19 pandemic, it was approximately CAD$2.50, over 12 times what it was worth two years prior. What caused this and why it is important to TT?
In 2011, CL Financial sold its oil producing subsidiary, the Primera Group, to Canada’s Touchstone Exploration Inc for approximately US$50 million. At the time, Primera had 16 oil and gas properties across southern Trinidad.