Touchstone Exploration Receives Trinidad Certificate of Environmental Clearance
17 August 2022 - 10:19AM
Dow Jones News
By Anthony O. Goriainoff
Touchstone Exploration Inc. shares rose Wednesday after the
company said it received a certificate of environmental clearance,
or CEC, from the government of Trinidad and Tobago within the
Cascadura area of the Ortoire block, where it has an 80% operating
working interest in the license.
Shares at 0733 GMT were up 14.50 pence, or 15%, at 112.50
pence.
The London-listed Canadian company--which acquires interests in
petroleum and natural-gas rights--said that the CEC approved the
construction of a multiwell surface production facility, and that
it includes the drilling of eight wells as well as the installation
of the associated pipelines and infrastructure.
The company said this positive outcome allowed it to establish a
clear and measurable five-year development plan.
"This is a major step forward for the Cascadura project as we
progress from the exploration phase to the development and
production phase.... We are working with our local contractors, and
construction is underway at local fabrication shops for various
aspects of the facility with all major facility components already
delivered to Trinidad," Chief Executive Paul Baay said.
Write to Anthony O. Goriainoff at
anthony.orunagoriainoff@dowjones.com
(END) Dow Jones Newswires
August 17, 2022 04:04 ET (08:04 GMT)
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