PANAMA CITY, PANAMA (Piero Stewart, Energy Analytics Institute, 13.May.2025, Words: 303) — Touchstone Exploration Trinidad Ltd. (TETL) entered into a share purchase agreement (SPA) to acquire 100% of the share capital of a Trinidad-based company from a third party.
At closing, TETL will pay $23mn in cash, in addition to the acquired entity’s 31 Dec. 2024 cash and abandonment fund balances, subject to customary purchase price adjustments. The total estimated consideration is $28.5mn. Completion of the acquisition remains subject to the satisfaction or waiver of certain outstanding conditions precedent, Touchstone announced on 13 May 2025 in an official statement.
