Touchstone Exploration ( (TSE:TXP) ) has shared an announcement.
Touchstone Exploration Inc. has successfully raised £15.375 million through a private placement of 75 million new common shares, aimed at financing development activities and providing additional working capital. The company has also secured debt financing to acquire Shell Trinidad Central Block Limited, which is expected to significantly enhance Touchstone’s production capabilities and reserves, potentially increasing production to between 8,000 and 9,000 boe/d in the latter half of 2025.
More about Touchstone Exploration
Touchstone Exploration Inc. is a Calgary, Alberta-based company involved in acquiring petroleum and natural gas rights, and the exploration, development, production, and sale of these resources. The company is active in onshore properties in Trinidad and Tobago, with its shares traded on the Toronto Stock Exchange and the AIM market of the London Stock Exchange under the symbol ‘TXP’.
Average Trading Volume: 515,510
Technical Sentiment Signal: Sell
Current Market Cap: £51.3M
For detailed information about TXP stock, go to TipRanks’ Stock Analysis page.