Touchstone Exploration Acquires Central Block Assets in Trinidad

Touchstone Exploration Inc., through its subsidiary Touchstone Exploration (Trinidad) Ltd., has entered an agreement to acquire Shell Trinidad Central Block Limited's share capital from BG Overseas Holdings Limited for $23 million. The acquisition is contingent upon regulatory approvals and is expected to conclude in the second quarter of 2025, with an effective date of January 1, 2025.

This acquisition includes a 65% operational interest in the Central block exploration and production licence in Trinidad and Tobago. The assets generate approximately 18 MMcf/d of natural gas and 200 bbls/d of natural gas liquids. The acquisition expands Touchstone's production by an estimated 2,080 boe/d and provides new development opportunities, including infill well drilling and deeper exploration prospects.

Paul Baay, Touchstone's CEO, highlighted the acquisition's strategic fit and its capacity to offer access to global LNG prices, aiming to boost production and LNG sales in 2025.