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Touchstone signs agreement to supply natural gas from the Ortoire Block
StockMarketWire.com
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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.
At 9:15am: (LON:TXP) Touchstone Exploration Inc share price was 0p at 104p
Story provided by StockMarketWire.com
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