Touchstone Exploration Inc T.TXP

Alternate Symbol(s): PBEGF

Energy Oil & Gas E&P

Touchstone Exploration Inc. is a Canada-based company, which is engaged in the business of petroleum and natural gas exploration, development, acquisition and production. The Company is active in onshore properties located in the Republic of Trinidad and Tobago. It operates Trinidad-based upstream petroleum and natural gas activities under state exploration and production licenses with the Trinidad and Tobago Ministry of Energy and Energy Industries (MEEI), Lease Operatorship Agreements (LOAs) with Heritage Petroleum Company Limited and private subsurface and surface leases with individual landowners. It is focused on onshore oil and natural gas properties located in southern Trinidad. With interests in approximately 145,000 net working interest acres of core exploration and development rights. Its core focus is on exploration and development on the Ortoire block and development production on its five onshore lease operatorship properties (CO-1, WD-4, WD-8, Fyzabad, and Balata East).

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Touchstone Exploration Inc

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Comment by Geysiron Nov 03, 2010 2:19pm

467 Views

Post# 17652247

RE: Spin out of PMG

I am quite surprised. I knew it would happen sometime. Wright had mentioned his long-term goal of setting up all 4 companies as separate entities then retiring to South America. Didn't expect the split now though. Currently PBG has only the two wells producing oil. Maybe 200 barrels per day? Not much revenue without the dividends from PMG and PBN. The gurufocus article did mention that PBG would still have $105 million in annual dividends from Petrobakken.

Some of my PBG stock is in my U.S. IRA account. Am I right that on my new Petrominerales stock Canada will hold taxes on the dividends?

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