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Be the first with the news that moves the market- Touchstone Exploration Inc. (TXP) has provided an update on the status of the Cascadura environmental impact assessment (EIA)
- The assessment is related to an application for a certificate of environmental clearance to develop the Cascadura area in the company’s Ortoire block
- Trinidad and Tobago government officials have requested further information while the application is still processing
- A determination may be made within thirty working days of receiving a complete response to the second review
- Touchstone Exploration Inc. (TXP) is down 3.96 per cent trading at $0.97 per share as of 3:23 p.m. ET
The Trinidad and Tobago Environmental Management Authority (EMA) is reviewing Touchstone Exploration’s (TXP) EIA for the Cascadura area.
Touchstone received an initial environmental impact review and assessment report (RAR) from the EMA back in May, to which it immediately responded. Upon receipt of a second review, Touchstone submitted a partial response and will meet with the EMA to ensure any remaining inquiries are addressed.
Touchstone expects a determination within thirty working days of receiving a complete response to the second RAR.
The assessment is related to an application for a certificate of environmental clearance to develop the Cascadura area in the company’s Ortoire block.
Touchstone has an 80 percent operating working interest in Ortoire block, with Heritage Petroleum Company Limited holding the remaining 20 percent working interest.
As previously illustrated by the company, the forecasted onstream date of the Cascadura facility will be established by the timing of receipt of the approved application.
Touchstone is a Calgary-based company acquiring interests in petroleum and natural gas.
Touchstone Exploration Inc. (TXP) is down 3.96 per cent, trading at $0.97 per share at 3:23 p.m. ET.
