on Touchstone Exploration, Inc. (isin : CA89156L1085)
Touchstone Announces Expanded Bank Debt and a Drilling Update
Touchstone Exploration Inc., based in Calgary, has disclosed an augmentation in its bank debt and provided an update on its drilling operations. Its Trinidadian subsidiary finalized a term sheet increasing borrowing capacity by $13 million, enhancing its financial standing. This expansion comprises a new $10 million term loan and an increase in revolving loan capacity to $10 million, aiming to back the 2024 capital program.
Alongside financial updates, Touchstone has commenced drilling the Cascadura-3 and CO-374 wells, focusing on gas and crude oil in multiple formations. These operations build on the company’s strategic exploration and development endeavors in Trinidad and Tobago, highlighting its ongoing commitment to resource development.
R. E.
Copyright © 2024 FinanzWire, all reproduction and representation rights reserved.
Disclaimer: although drawn from the best sources, the information and analyzes disseminated by FinanzWire are provided for informational purposes only and in no way constitute an incentive to take a position on the financial markets.
Click here to consult the press release on which this article is based
See all Touchstone Exploration, Inc. news