CALGARY, ALBERTA–(Marketwired – Feb. 1, 2016) – Touchstone Exploration Inc. (“Touchstone” or the “Company”) (TSX:TXP) is pleased to announce that it has closed the sale of its Kerrobert facility, infrastructure and associated mineral rights. The disposition had an effective date of December 31, 2015.
The disposition included 6,739 acres of developed and undeveloped land at Kerrobert as well as mineral rights associated with 10,881 acres of undeveloped land around Edam, Saskatchewan. In addition to the mineral rights, the sale included all of the facilities, infrastructure, interests and decommissioning obligations related to the Kerrobert combustion project.
Following the disposition, the Company has an interest in 32,273 acres of undeveloped land in Saskatchewan focusing mainly on the Viking formation. Touchstone will continue to evaluate the potential to monetize, through dispositions or joint ventures, the Company’s remaining non-core Canadian assets and will focus future capital and technical efforts on developing its acreage in the Republic of Trinidad and Tobago.