CALGARY, AB, Dec. 30, 2020 /CNW/ - Touchstone Exploration
Inc. ("Touchstone" or the "Company") (TSX: TXP) (LSE:
TXP) announces that it has extended the term of its Lease
Operatorship Agreements ("LOAs") with Heritage Petroleum Company
Limited ("Heritage") for its Coora-1, Coora-2, WD-4 and WD-8 blocks
to March 31, 2021.
The LOAs were originally set to expire on December 31, 2020 and have been extended under
existing terms and conditions while Touchstone and Heritage
progress on negotiations regarding new ten-year LOAs for each
property.
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".
Advisories
Forward-Looking Statements
Certain information provided in this news release 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 news release may include, but
is not limited to, statements relating to the Company's ongoing
negotiations regarding its LOAs and anticipated terms, finalization
and 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 2019 Annual
Information Form dated March 25, 2020
which has been filed on SEDAR and can be accessed at
www.sedar.com. The forward-looking statements contained in
this news release 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.
SOURCE Touchstone Exploration Inc.