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RNS Number : 4382R
Touchstone Exploration Inc.
06 July 2022
CASCADURA EIA REVIEW PROCESS UPDATE
CALGARY, ALBERTA (July 6, 2022) - Touchstone Exploration Inc. (
" Touchstone " or the " Company " ) (TSX, LSE: TXP) provides a
further update on the status of the Cascadura Environmental Impact
Assessment ("EIA") in support of an application for a Certificate
of Environmental Clearance, which must be approved by the Trinidad
and Tobago Environmental Management Authority ("EMA") to conduct
development operations within the Cascadura area in the Company's
Ortoire block. Touchstone has an 80 percent operating working
interest in Ortoire block, with Heritage Petroleum Company Limited
holding the remaining 20 percent working interest.
Further to the Company's announcement on June 27, 2022, and in
accordance with the EMA's regulated review process, Touchstone
continues to engage with the EMA and respond to its queries to
support the Cascadura area EIA application.
The Company received an initial EIA Review and Assessment Report
("RAR") from the EMA on May 5, 2022 and responded to the requests
raised on May 15, 2022. Following receipt of a second RAR on June
24, 2022, Touchstone has submitted a partial response and will be
meeting with the EMA to clarify the remaining aspects to ensure
that the queries are addressed by the Company. Touchstone will
provide further feedback to the EMA as appropriate following this
meeting. The EMA has noted that a determination will be made within
thirty working days of receiving a complete response to the second
RAR.
The EIA application was initially submitted on December 23, 2021
and pursuant to applicable legislation was to be determined by the
EMA within 80 working days, unless extended while the EMA seeks
further information or clarifications. The latest RAR represents
the second extended date from the EMA beyond the original 80
working days review period.
As noted in the Company's announcement on June 27, 2022, the
forecasted onstream date of the Cascadura facility will be
established by the timing of receipt of the approved EIA
application, and the Company will update stakeholders as
appropriate.
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 / Henry Fitzgerald O'Connor / Thomas Diehl Tel: +44
(0) 207 523 8000
Camarco (Financial PR)
Billy Clegg / Emily Hall / Lily Pettifar Tel: +44 (0) 203 781
8330
Advisories
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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