Touchstone has reported that Trinidad 1P reserves stayed at at 8.8 mmbbl and 2P reserves increased 4% to 15.5 mmbbl. With the pending acquisition of the five onshore blocks from Trinity Exploration & Production, we estimate the proforma 2P reserves at 21.4 mmbbl. Touchstone’s production volume covenant associated with its credit facility has been relaxed. However, the Company was required to make a mandatory prepayment of US$2 mm in March 2016 and another US$1 mm in April 2016e. Post prepayment ....
10 Mar 2016
Reports Reserve Growth in Trinidad and Update to its Credit Facility
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Reports Reserve Growth in Trinidad and Update to its Credit Facility
Touchstone Exploration Inc (TXP:LON) | 50.5 0 0.0% | Mkt Cap: 118.3m
- Published:
10 Mar 2016 -
Author:
Darren B. Engels -
Pages:
7
Touchstone has reported that Trinidad 1P reserves stayed at at 8.8 mmbbl and 2P reserves increased 4% to 15.5 mmbbl. With the pending acquisition of the five onshore blocks from Trinity Exploration & Production, we estimate the proforma 2P reserves at 21.4 mmbbl. Touchstone’s production volume covenant associated with its credit facility has been relaxed. However, the Company was required to make a mandatory prepayment of US$2 mm in March 2016 and another US$1 mm in April 2016e. Post prepayment ....