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An announcement from Touchstone Exploration ( (TSE:TXP) ) is now available.
Touchstone Exploration has raised £15.375 million through a private placement of new common shares to fund its 2025 capital budget, focusing on the development of its Cascadura wells and the Central block in Trinidad. The company also secured a $30 million loan to finance its acquisition of Shell Trinidad Central Block Limited, which is expected to enhance its production capabilities and market presence in Trinidad’s natural gas sector.
More about Touchstone Exploration
Touchstone Exploration Inc. is a Calgary, Alberta based company involved in acquiring interests in petroleum and natural gas rights, as well as the exploration, development, production, and sale of petroleum and natural gas. The company is active in onshore properties in the Republic of Trinidad and Tobago, with its common 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: Strong Sell
Current Market Cap: £51.3M
See more insights into TXP stock on TipRanks’ Stock Analysis page.