REG - Touchstone Explrtn. - COMPLETION OF THE CASCADURA EIA

Touchstone ExplorationAnnouncement

08/08/2022 07:00

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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 (http://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 (http://www.sedar.com/) ) and on the
Company's website (www.touchstoneexploration.com
(http://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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