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Oilman Jim's Private Blog


Touchstone Exploration - Closing of Trinidad based US$20 million term loan

CALGARY, ALBERTA (June 16, 2020) - Touchstone Exploration Inc. ("Touchstone"or the"Company") (TSX, LSE: TXP) announces that on June 15, 2020 the conditions precedent were satisfied in respect of its previously announced US$20 million, seven-year term loan agreement (the "Term Loan") with Republic Bank Limited. Touchstone withdrew US$15 million to satisfy obligations relating to prepaying the Company's former C$20 million credit facility. Pursuant to the Term Loan, Touchstone has the option to withdraw the remaining US$5 million available balance prior to June 15, 2021.

Touchstone Exploration Inc.

Touchstone Exploration Inc. is a Calgary 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 " .

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