18 December 2020 | 09:15am
StockMarketWire.com - Touchstone Exploration has signed a natural gas supply agreement with the National Gas Company of Trinidad and Tobago for all future natural gas production from the Ortoire Block.
Primera Oil and Gas, a subsidiary of Touchstone will supply gas from the Ortoire Block, initially from the Coho-1 field.
Paul Baay chief executive of Touchston, said: ‘This agreement provides a stable, multi-decade revenue stream for Touchstone to fully develop the world-class asset at Ortoire. This transforms the company from being an exploration company to one that is a full cycle energy provider.
‘The structure of the agreement provides the shareholders of Touchstone with a predictable cash flow and earnings stream for years to come while minimising the capital required to maximise the resource.’
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Touchstone Exploration Inc. (TSX, LON:TXP) has announced that it’s indirect wholly-owned subsidiary has executed a long-term natural gas sales agreement with the National Gas Company of Trinidad and Tobago Limited for all future natural gas production from the Ortoire block (Touchstone 80% working interest operator, Heritage Petroleum Company Limited 20% working interest).
The National Gas Company of Trinidad and Tobago Limited (NGC) signed a natural gas supply agreement with Primera Oil and Gas Limited, a subsidiary of Canadian energy exploration company Touchstone Exploration on Friday 18th December 2020. Primera, acting on behalf of its Joint Venture partner Heritage Petroleum Company Limited, will supply gas from the Ortoire Block, initially from the Coho-1 field.
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