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RNS Number : 1675V
Touchstone Exploration Inc.
08 August 2022
COMPLETION OF THE CASCADURA ENVIRONMENTAL IMPACT ASSESSMENT
CALGARY, ALBERTA (August 8, 2022) - Touchstone Exploration Inc.
( " Touchstone ", "we", "our", "us" or the " Company " ) (TSX, LSE:
TXP) announces that the Trinidad and Tobago Environmental
Management Authority ("EMA") has confirmed that no further
information is required regarding the Cascadura Environmental
Impact Assessment ("EIA"). The Cascadura EIA supports the Company's
application for a Certificate of Environmental Clearance ("CEC") to
conduct development operations within the Cascadura area of the
Ortoire block.
The EMA confirmed that the following designated activities of
the CEC have been deemed applicable to the proposed Cascadura
project: exploration for crude oil and natural gas; establishment
of a facility for primary or secondary production of crude oil,
condensate or associated gas; establishment of a facility for
natural gas or condensate production; establishment of
infrastructure for pipeline systems; and establishment of
infrastructure for storage of petroleum or liquid petroleum gas or
their derivatives. These represent all of the necessary activities
for commercial production at Cascadura pursuant to Touchstone's
application.
Touchstone submitted the remaining EIA documentation on August
3, 2022, and the EMA responded on August 5, 2022 stating that the
submitted information was reviewed and was deemed to be adequate to
determine the outcome of the Company's CEC application. Pursuant to
statutory CEC rules, the EMA confirmed that a final CEC
determination will be made by September 15, 2022.
Touchstone has an 80 percent operating working interest in the
Ortoire block, with Heritage Petroleum Company Limited holding the
remaining 20 percent working interest.
Paul Baay, President and Chief Executive Officer, commented:
"We are excited that the EMA has accepted our EIA documentation
and will process our CEC application in the near future. I would
like to thank our team for their perseverance and diligence in
submitting a complete response thereby ensuring no further delays.
We look forward to updating our stakeholders in due course."
Touchstone Exploration Inc.
Touchstone Exploration Inc. is a Calgary, Alberta based company
engaged in the business of acquiring interests in petroleum and
natural gas rights and the exploration, development, production and
sale of petroleum and natural gas. Touchstone is currently active
in onshore properties located in the Republic of Trinidad and
Tobago. The Company's common shares are traded on the Toronto Stock
Exchange and the AIM market of the London Stock Exchange under the
symbol " TXP " .
For further information about Touchstone, please visit our
website at www.touchstoneexploration.com or contact:
Touchstone Exploration Inc.
Mr. Paul Baay, President and Chief Executive Officer Tel: +1
(403) 750-4487
Mr. James Shipka, Chief Operating Officer
Mr. Scott Budau, Chief Financial Officer
Shore Capital (Nominated Advisor and Joint Broker)
Daniel Bush / Toby Gibbs / Iain Sexton Tel: +44 (0) 207 408
4090
Canaccord Genuity (Joint Broker)
Adam James / Gordon Hamilton Tel: +44 (0) 207 523 8000
Camarco (Financial PR)
Billy Clegg / Emily Hall / Lily Pettifar Tel: +44 (0) 203 781
8330
Advisory
Forward-Looking Statements
Certain information provided in this announcement may constitute
forward-looking statements and information (collectively,
"forward-looking statements") within the meaning of applicable
securities laws. Such forward-looking statements include, without
limitation, forecasts, estimates, expectations and objectives for
future operations that are subject to assumptions, risks and
uncertainties, many of which are beyond the control of the Company.
Forward-looking statements are statements that are not historical
facts and are generally, but not always, identified by the words
"expects", "plans", "anticipates", "believes", "intends",
"estimates", "projects", "potential" and similar expressions, or
are events or conditions that "will", "would", "may", "could" or
"should" occur or be achieved.
Forward-looking statements in this announcement may include, but
are not limited to, statements relating to Touchstone's development
and exploration plans and strategies, including the expectation of
regulatory approvals and the timing thereof. Although the Company
believes that the expectations and assumptions on which the
forward-looking statements are based are reasonable, undue reliance
should not be placed on the forward-looking statements because the
Company can give no assurance that they will prove to be correct.
Since forward-looking statements address future events and
conditions, by their very nature they involve inherent risks and
uncertainties. Actual results could differ materially from those
currently anticipated due to a number of factors and risks. Certain
of these risks are set out in more detail in the Company's 2021
Annual Information Form dated March 25, 2022 which is available
under the Company's profile on SEDAR ( www.sedar.com ) and on the
Company's website ( www.touchstoneexploration.com ). The
forward-looking statements contained in this announcement are made
as of the date hereof, and except as may be required by applicable
securities laws, the Company assumes no obligation to update
publicly or revise any forward-looking statements made herein or
otherwise, whether as a result of new information, future events or
otherwise.
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END
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(END) Dow Jones Newswires
August 08, 2022 02:00 ET (06:00 GMT)
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