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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).


TSX:TXP - Post by User

Touchstone Exploration Inc
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Post by Proseleneson Nov 11, 2021 6:36pm
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Post# 34117362

From the Q3 MDA.......

From the Q3 MDA.......
This from the MDA page 25

https://touchstoneexploration.com/wp-content/uploads/2021/11/TXP-MDA-September-30-2021-FINAL.pdf

..........As at September30, 2021, Touchstone had a cash balance of $5,004,000, a working capital deficit of $4,657,000 and $7,500,000 drawn on its term credit facility.On October 1, 2021, the Company withdrew an additional $7,500,000 of the credit facility, resulting in a principal balance of $15,000,000 outstanding. Touchstone has the option to access the remaining $5,000,000available balance prior to December 31, 2021.The credit facility does not require the commencement of principal payments until September 2022, and financial covenants are not tested until the year ended December 31, 2022.The Company believes that available credit facility capacity combined with anticipated funds flow from operations will be sufficient to satisfy its 2021 and 2022 minimum work commitments and budgeted exploration activities...............
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