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Touchstone exploration: an onshore success story
14 Hrs Ago
Touchstone’s discoveries, being onshore and close to existing NGC pipelines means that the development cost will be low and that the fields can be brought on production sooner than offshore gas fields. Photo courtesy the Geological Society of TT -
GEOLOGICAL SOCIETY
Touchstone’s share price was CAD$0.20 in January 2019; by January 2020 it had doubled to $0.40. But by January 2021, despite extenuating circumstances related to the covid19 pandemic, it was approximately CAD$2.50, over 12 times what it was worth two years prior. What caused this and why it is important to TT?
In 2011, CL Financial sold its oil producing subsidiary, the Primera Group, to Canada’s Touchstone Exploration Inc for approximately US$50 million. At the time, Primera had 16 oil and gas properties across southern Trinidad.
ChelPipe Group selling oil services division Rimera to controlling shareholder for 6.8 bln rubles
CHELYABINSK. March 9 (Interfax) - The ChelPipe Group is selling its oil services division to its controlling shareholder Andrei Komarov for 6.776 billion rubles, according to a company statement.
The purchase-sale agreement was signed on March 5 and states that payment for a 99.9999% stake in Rimera must be received within a month.
It was reported on March 4 that ChelPipe would sell JSC Rimera and the Rimera group s Alnas and Izhneftemash plants. It emerged on March 5 that Komarov was buying LLC Rimera-Alnas for 1.172 billion rubles. The decision to sell ChelPipe s shares in JSC Rimera and the stake in LLC Rimera-Almas to Andrei Komarov was reached in the framework of the Rimera Group s restructuring. As a result of the deal, Komarov will own 99.9% of JSC Rimera and will be the sole owner of LLC Rimera-Anas, ChelPipe told Interfax.