Toronto-listed Touchstone Exploration Inc announced that two of its indirect wholly-owned Trinidad subsidiaries, Touchstone Exploration (Trinidad) Ltd and Primera Oil and Gas Limited, have “entered into an agreement with The Bank of Nova Scotia, as administrative agent, collateral agent and initial lender, for a US$50 million credit facility maturing on December 2, 2017. Scotiabank T&T Ltd acted as sole lead arranger.”
Touchstone chief financial officer Scott Budau said in a statement: “The Trinidad-based credit facility provides us the financial flexibility to build upon our successful 2014 Trinidad drilling programme into 2015.”
Read the full story in the Trinidad and Tobago Guardian Newspaper here.