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Touchstone Exploration extends lease operatorship agreements

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Touchstone Exploration Inc (LON:TXP) said it has extended the term of its lease operatorship agreements (LOAs) with Heritage Petroleum Company Limited for its Coora-1, Coora-2, WD-4 and WD-8 blocks in Trinidad & Tobago to March 31, 2021.

WATCH: Touchstone Exploration signs ‘biggest deal ever’ worth up to $2.2bln

The AIM-listed oil and gas firm added that the LOAs, which were initially due to expire on December 31, 2020, have been extended under the existing terms and conditions while the two firms continue to progress negotiations regarding new 10-year LOAs for each property.

Shares in Touchstone jumped 0.7% to 127.4p in early deals on Wednesday.

FTSE 100 sees solid post-Christmas gain, but closes off highs as US blue-chips see profit-taking

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